How does the IRS process tax returns?
How does the IRS process millions of tax returns through out the county so fast? Even if they were to hire tons of temp employees to review W2 forms and approve tax return checks; it would take forever. How can they cover so many returns so fast?
btw…I know the checks are printed and stuffed by computers/machine.
mudbug
Posted 5 months ago
“fast” is a relative term. In England they take your taxes right out of your paycheck and you don’t even file a return. IRS paper returns are batched in piles of 100 for processing which takes 6 weeks for the pile. The 30-year old computer system takes 30 days to register any input/change. Electronic returns are done by computer and average 7-10 days. Two years later things are checked for accuracy and completeness. Bills are sent for discrepencies at that time (plus interest). This process is hardly “fast”. It is wasteful and needs updating.
Judy
Posted 5 months ago
Most returns are processed by computers and no human ever looks at them. The computers are programmed to kick out any returns that look strange, for a human to look at.
Also, it takes around a year before even all the computer checking is done. Only some pretty basic checks are done before refunds are sent out, other things are checked later and if errors are found, the person is billed for any additional tax or receives a refund for overpayments.
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How does the IRS process millions of tax returns through out the county so fast? Even if they were to hire tons of temp employees to review W2 forms and approve tax return checks; it would take forever. How can they cover so many returns so fast?
btw…I know the checks are printed and stuffed by computers/machine.
- Being Human DVD Box Set Season 3
- Big Shots DVD Box Set Season 1
- However, the most important problem that your product resolves might be different for males and females, different age ranges, or even Dodgers and Yankees fans
- Ralph Lauren Polo Outlet endure ages
- It makes me feel very uncomfortable about investing and trading in the US markets when the SEC does something like this
mudbug
Posted 5 months ago
“fast” is a relative term. In England they take your taxes right out of your paycheck and you don’t even file a return. IRS paper returns are batched in piles of 100 for processing which takes 6 weeks for the pile. The 30-year old computer system takes 30 days to register any input/change. Electronic returns are done by computer and average 7-10 days. Two years later things are checked for accuracy and completeness. Bills are sent for discrepencies at that time (plus interest). This process is hardly “fast”. It is wasteful and needs updating.
Judy
Posted 5 months ago
Most returns are processed by computers and no human ever looks at them. The computers are programmed to kick out any returns that look strange, for a human to look at.
Also, it takes around a year before even all the computer checking is done. Only some pretty basic checks are done before refunds are sent out, other things are checked later and if errors are found, the person is billed for any additional tax or receives a refund for overpayments.
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Steve D
Posted 5 months ago
Computers – processing of e-filed forms is almost instantaneous. The computer’s check the math, check the withholdings against employer-filed W-2s and 1099′s, and look for items that seem to be out of whack (i.e., too many contributions, shady deductions, or questionable deductions).