Many tax filers are facingextended delaysin getting their tax refund as the IRS continues to deal with backlogs and processingadjustmentsto returns that incorrectly claimed the CTC or EITC. If its been more than 21days and you cannot get updatesto find out what is happening with your tax ref...
A Note for Those Claiming the EITC or Additional Child Tax Credit Those who claim either theEarned Income Tax Credit (EITC)orAdditional Child Tax Credit(ACTC) may see a refund delay due to rule changes from the PATH Act. Under the PATH Act, the IRS is not able to issue a refund invol...
The IRS started processing tax returns for the 2023 tax season from the week ofJanuary 23rd(as predicted by this site a few months ago!). Important 2023 tax deadlines and dates are shown in the chart below. The filing deadline for the regular tax season will beApril...
And the part I really don’t understand is this: IRS Commissioner Werfel told reporters last Friday, “If there’s a change that impacts your return, we will make the change, and we will send you the update — whether it’s an additional refund or otherwise — without you having to tak...
On October 19, 2023, the IRS announced a process which is intended to allow employers who were pressured or misled by marketers or promoters into filing ineligible claims for the Employee Retention Credit (ERC), but who have not yet received a refund, to withdraw their claim. This process pe...
As the IRS notes, for nine out of ten tax filers it takes a maximum of 21 days to receive a tax refund (when eligible) after their tax return has been accepted. But this is still just an estimate based on past IRS refund schedules and not a guarantee. Fu
Credit is the refund claimed for the tax paid on a vehicle that was either • Sold, • Destroyed or stolen before June 1 and not used during the remainder of the period, or • Used during the prior period 5,000 miles or less (7,500 miles or less for agricultural vehicles) ...
However, if the amount of excise tax is below certain levels, the IRS allows you to delay payment until you accumulate a sufficient excise tax liability. With TurboTax Live Business, get unlimited expert help while you do your taxes, or let a tax expert file completely for you, start to ...
This leads to concern of taxpayers reporting the proper amounts of the advance Child Tax Credits they received as well as stimulus three; reporting the wrong amount will delay your refund. The IRS received 6.2 million responses to proposed adjustments, taking 199 days on average to process them...
While an IRS review and audit will likely delay refund payments, the good news is that an IRS audit is not a reason to panic if you have notpurposelyprovided incorrect information. You can normally resolve this by responding to the IRS notice with ev...