2 ms·
There are two problems with that: The one that affects most people is that the IRS system is "eventually consistent", but they do not currently have the inform
by sokoloff 3y ago
There are two problems with that:
The one that affects most people is that the IRS system is "eventually consistent", but they do not currently have the information needed to file your return on the date your return is due.
If you don't believe me, request your transcript-of-records* on your account filing date. Then request it again in early fall. The latter will, IME, be complete while the former will not.
* - https://www.irs.gov/individuals/get-transcript https://www.irs.gov/individuals/get-transcript
The one that affects only a subset of people is that many deductible items that go into tax returns are never shared with the IRS at all and only the taxpayer knows about them (today).
- jedberg 3y agoYou're technically correct, but in most cases the date the original form was filed with the IRS was around the deadline. It just takes them a while to upload them all. But we could also just make the filing deadline October for individuals. Most of those late arriving forms are K1s for partnerships that only file in April.