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IRS interest rates increase for the third quarter of 2022 IR-2022-107, May 20, 2022 — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning July 1, 2022.
The IRS as of August 19 had 8.
7 million unprocessed individual tax returns it has received in 2022, a mix of returns for 2021 and late-filed returns for previous tax years, the agency said in an update on its backlog of returns and taxpayer correspondence.
Data on IRS Mistakes In fact, a 2017 study by the Treasury Inspector General for Tax Administration found that the IRS makes errors in less than 1% of the returns it processes.
That means that for every 10,000 tax returns filed, the IRS makes an error on just 100 of them.
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