Happy Monday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.
Happy Wednesday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.
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THE BIG DEAL IRS watchdog: Millions had major problems getting tax refunds, stimulus payments: The IRS “generally performed well” carrying out last year’s tax-filing season and issuing the first round of coronavirus stimulus payments, but millions of taxpayers encountered significant problems, according to a report issued Wednesday by the agency s in-house watchdog.
The COVID-19 pandemic led the IRS last spring during the middle of the filing season to temporarily close mail facilities, call centers and taxpayer assistance centers.
Around the same time, the IRS was tasked with issuing relief payments of up to $1,200 per adult and $500 per child that were authorized by the CARES Act.