tax returns — or risk facing a financial penalty.This year, the IRS extended the traditional tax-filing deadline from April 15 to May 17, giving most taxpayers an extra month to prepare their filings amid a slew of pandemic-related policy changes included in the $1.9 trillion American Rescue Plan.
As of May 7, the IRS had processed about 116 million returns. By comparison, it had received about 126.7 million returns. The agency has issued roughly 84 million refunds so far, down 3.2% from this point in 2020.If you haven’t filed yet, here’s what you need to know:If you haven’t filed your taxes yet, don’t worry — there’s still time to request an extension to Oct.