Ed Renn featured in Accounting Today's "IRS Having Difficulty Processing Power of Attorney Forms"

Article 21 January 2022 Experience: Private client
Tax

Ed Renn was featured in the recent article, ‘IRS Having Difficulty Processing Power of Attorney Forms,’ which was published by Accounting Today on January 20, 2022. The article discusses the current backlog of tax returns the IRS is facing, and a host of other challenges involved.

Ed comments that “The CARES Act created a lot of new laws and a lot of new responsibilities for them that they simply didn’t have any procedures or staff for, and somehow they got it done. Last year as part of Biden’s proposals we suddenly had refundable Child Tax Credits and the change to the Employee Retention Tax Credit on the employer’s side. All of that came along in 2021. It just kept changing and morphing. I think they’ve done a relatively good job. That said, they’ve got 6 million unprocessed returns primarily from 2020 still floating around out there. The 941’s are slow and any amended returns — any 941-X or 1040-X — are ridiculously slow.”

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