Sagewell Financial’s CEO Sam Zimmerman provided tax tips for seniors to AARP’s Senior Planet as the tax deadline approaches.
Ed. Note: The following excerpt is taken from AARP’s Senior Planet (the entire article can be found here)
WORK & MONEY
By Rodney A. Brooks Monday, April 11, 2022 No Comments Share This:
With the filing deadline looming ahead, it’s the perfect opportunity to look at what changes might be in store for retirees and seniors.
If there was ever a year to move to digital tax filing, it’s this year.
The IRS says it is still dealing with a backlog of 24 million returns from last year, the result of staffing shortages and the pandemic.
“It was reported they were 24 million applications behind last year,” says Sam Zimmerman, CEO of Sagewell Financial in Cambridge, Massachusetts. “Tax filing is backed up in a way that we haven’t seen in some time.” He said the most- to-be-affected are returns filed non-digitally.
What that means for retirees and seniors is if you have been putting off e-filing their tax returns, this is the year to step into the 21st century. In addition, filers should expect longer delays, Zimmerman says.
More Tax Tips… (READ THE REST OF THE ARTICLE HERE ON AARP SENIOR PLANET)
Rodney A. Brooks is the former deputy managing editor/Money at USA TODAY. His retirement columns appear in U.S. News & World Report and Senior Planet.com. He has written for National Geographic, The Washington Post and USA TODAY. The author of “Fixing the Racial Wealth Gap,” Brooks has testified before the U.S. Senate Special Committee on Aging. His website is www.rodneyabrooks.com.