MINNEAPOLIS — The tax deadline is fast approaching and it's a good time to check in and see how things are going.
"It has actually been easier than the last couple of years,” Goodney & Associates CPA Ann Etter says.
For CPA's like Etter this tax season has been easier to manage than the first two years of the pandemic.
CPA’s have fewer tax law changes and stimulus checks to worry about this year.
The IRS however…
"We are seeing that the IRS is still pretty far behind,” Etter says.
The IRS says they're dealing with staffing shortages and a backlog of returns from previous years.
That's why it may take a little longer to process your tax return, if you haven't filed it already.
"We are seeing a longer turnaround time for people to get their refunds,” Etter explains.
Etter says most people will receive their refunds within three to four weeks, which isn't too much longer than usual, but if there's a mistake in your paperwork, she says fixing it could take the IRS an additional four to eight weeks.
"We've seen an uptick in in the IRS sending notices and people having errors in their returns."
Etter says a lot of the mistakes involve the Child Tax Credit.
Last year taxpayers had the option to receive some of that money early and they either forgot about it or didn't claim it correctly.
She says there was also a stimulus payment last year that some people may have forgotten about.
However, here in Minnesota...
"Everything is going very smoothly for us,” Assistant Department of Revenue Commissioner Justin Nieman says.
The Minnesota Department of Revenue doesn't have to worry about those stimulus payments and child tax credits.
Nieman says state refunds are mostly on time this year.
"Most of the returns that we have received have been processed in three weeks,” Nieman says.
So, it's possible that your state refund could show up in your bank account one day, and you might not see your federal refund for a few days, weeks or even a month or more, if you made a mistake on your taxes.
You can track your refund on the IRS website.
Just visit IRS.gov and click on the section that says, “Where’s my Refund.”
The tax deadline is April 18.
If you're worried you might not make it, you can file an extension, but that extension is just to give you more time to file the paperwork.
If you owe money you still have to pay by the deadline to avoid fees and penalties from the IRS.