The National Taxpayer Advocate (NTA), Erin M. Collins, has released her 2021 Annual Report to Congress. The NTA called the calendar year 2021 the most challenging year taxpayers and tax professionals have ever experienced. The report states that tens of millions of taxpayers experienced delays in the processing of their returns, and with 77 percent of individual taxpayers receiving refunds.

The IRS has reminded taxpayers of reporting and potential tax obligations from working in the gig economy, making virtual currency transactions, earning foreign-source income, or holding certain foreign assets. The information available on IRS.gov and instructions on Form 1040 can help taxpayers in understanding and meeting these requirements. Generally, income earned from the gig economy is taxable and must be reported to the IRS. The gig economy is the activity where people earn income providing on-demand work, services or goods.