LAS VEGAS (KTNV) — As the April 15 tax deadline approaches, many Americans still have pressing questions about the filing process, potential delays, and how economic uncertainty might impact their returns.
I spoke with financial expert Brad Zucker to address viewers' concerns, offering insights into refund delays, e-filing fees, and smart ways to use tax refunds.
IRS Delays & Workforce Cuts Could Impact Refund Processing
With recent layoffs at the IRS and hiring freezes, taxpayers are experiencing longer processing times. Zucker says that while e-filing is the fastest option, ensuring refunds within three weeks, those who opt for paper filing could face delays of four weeks or more.
“There have been 7,000 layoffs at the IRS, mostly employees with less than a year of service. With hiring freezes in place and a push to bring remote workers back to the office, more early retirements are expected, creating further processing slowdowns,” Zucker explains.
Is There a Charge for E-Filing?
A common viewer question was whether e-filing now carries a fee. Zucker clarifies that most taxpayers qualify for free e-filing based on income levels.
“If your adjusted gross income is $84,000 or less, you qualify for free e-filing on the IRS website. However, those with higher incomes may face a small charge,” Zucker says.
Do Seniors Have to Report Extra Income?
For taxpayers over 65, reporting additional income depends on total earnings. Zucker explains that there’s no age limit for taxable income, but income thresholds determine whether filing is required.
“If you're single and earn less than $11,950, or if you’re married filing jointly with an income below $24,000, you fall into a zero-tax bracket and don’t need to file a return,” Zucker states.
Smart Ways to Use Your Tax Refund
With economic uncertainty and recession fears, some viewers asked how to best use their tax refunds. Zucker suggests four key strategies:
- Pay Off High-Interest Debt – Using refunds to reduce credit card balances or making extra mortgage payments can save money in the long run.
- Build an Emergency Fund – Having reserves for unexpected expenses—like medical bills or car repairs—prevents tapping into retirement savings.
- Invest in Education or Career Growth – Using refunds for certifications or higher education can lead to better job opportunities and increased earnings.
- Plan for Retirement – Contributing to 401(k) plans or other retirement savings while the stock market is low allows for long-term financial growth.
“We’re in a market downturn right now, but buying low and holding investments long-term is key. If you’re still working, this is a great time to maximize your retirement contributions,” Zucker advises.
Have More Questions?
KTNV will continue answering tax-related questions leading up to April 15. If we didn’t get to your question, email Shakeria.Hawkins@KTNV.com for more information.
WATCH | Here's our first interview with Zucker regarding filing this tax season
