It’s true, talk to most tax preparers and they will tell you, this tax season they’ve seen a slow down compared to previous seasons. According to Bloomberg News, the U.S. Internal Revenue Service has reported receiving 5.7 million fewer individual returns than at a comparable point last year. That’s an 8.5 percent drop. No one knows exactly why this is happening, but some executives in the tax industry give various explanations.
- Plain old procrastination. It might be that more taxpayers are just waiting longer to file their returns.
- The political atmosphere. Many undocumented immigrants may be fearful of filing and leaving a paper trail that the government can use to find and deport them.
- Some refunds are being delayed this year. Many taxpayers who normally rush to file taxes and get their refunds may not be in a hurry anymore since their refunds might be delayed anyway.
- Taxpayers might be confused by the PATH Act. Many taxpayer’s might mistakenly think that the rule changes affect them and are delaying filing their tax returns.