From Yahoo Finance: 2025-03-22 08:00:00

With less than a month until the April 15 tax-filing deadline, taxpayers are debating whether to seek an extension. The IRS is facing significant job cuts, raising concerns about processing delays. Tax preparers advise filing early to avoid potential issues. The agency has received 70.3 million returns so far this year.

Millions of taxpayers typically seek extensions, but this year may not be the best time due to IRS staff reductions. Tax professionals warn against waiting and urge clients to file promptly. The agency expects nearly 20.3 million extension requests this year. Concerns linger about potential delays and service disruptions.

Wealthier Americans, with more complex tax situations, often take extensions to gather all necessary documents. Accountants are advising clients to file early to avoid processing bottlenecks. The IRS’s recent job cuts have sparked worry about service quality and taxpayer experience after Tax Day. Speedy filing is encouraged to prevent delays.

Taxpayers are urged to file accurately and promptly to avoid potential processing delays. The IRS has faced challenges in recent years due to staff reductions and backlog issues. Online filing and payment are recommended to streamline the process and prevent delays. Tax professionals emphasize the importance of timely and accurate filing this year.



Read more at Yahoo Finance: Why you should think twice before claiming an income-tax extension. ‘This is not the year to do your normal procrastinating.’