Treasury Department Warns Of Looming Tax Disaster As It Lacks Funding And Resources
President Joe Biden’s Treasury Department is sounding the alarm and warning that it may not have sufficient resources to handle 2021 tax filings.
The IRS delayed tax deadlines in both 2020 and 2021 due to the COVID-19 pandemic, and staffers are now concerned about a lack of funding and other resources ahead of this tax season. Watchdog groups are also warning Americans that they can expect delays in receiving their tax refunds.
“Things might be more challenging even than what we anticipate — and what we anticipate is very, very challenging,” one Treasury official said.
A looming tax disaster would only be the latest bad news for the president in recent weeks, as he has record-low approval ratings on the one-year anniversary of his inauguration.
The president’s legislative agenda is dead in the water in Congress, with members of his own party arguing against the spending in his Build Back Better Act as well as his push to federalize election laws.
Biden’s recent push to eradicate the filibuster also came to a screeching halt courtesy of Democratic Sens. Kyrsten Sinema of Arizona and Joe Manchin of West Virginia.
Still, Biden claimed in his White House press conference on Wednesday that the first year of his presidency has gone better than anyone expected.
“I didn’t overpromise,” Biden said. “I have probably outperformed what anybody thought would happen.”
“Everything’s changing. It’s getting better. Look, I didn’t overpromise, but I think if you take a look at what we’ve been able to do, you’d have to acknowledge we made enormous progress,” he added.