“The reason people’s returns are changing this year is that they’re no longer accounting for stimulus payments and other credits,” tax expert Howard Gleckman of the Urban-Brookings Tax Policy Center said in an interview with The Hill. An IRS official told The Hill that not all refunds f...
However, this is not a normal year since the IRS extended the filing deadline for the first time ever, until July 15. Consequently, the agency said it will pay interest as if its refunds are late starting on April 15. ‘EXTREME DELAYS,’ BACKLOGGED TAX RETURNS: WHEN WILL YOUR REFUND AR...
theturnaround timefor tax return processing has sped up tremendously over the years, especially since the introduction of the IRS electronic filing, or e-file, system. Most returns today are processed within three weeks, with many filers receiving their refunds even sooner...
Lisa Greene-Lewis is here, TurboTax expert and CPA, to explain to us. I mean, refunds are almost like becoming an expected thing that you get in the mail. And now we're saying, maybe not so much this year. What's going on?
Changes to the tax code mean your refund could be noticeably bigger. Updated Mon, Dec 30 2024 3:16 PM EST Dan Avery The deadline for most Americans to file their federal tax return has passed. And while the IRS is still processing paperwork, refunds for tax year 2023 are tracking conside...
Each year, the IRS announces changes to certain tax breaks, like refunds and deductions, and it's possible this year's adjustments could affect you. 1. Marginal tax rate brackets changed Whether your income went north or south—or even stayed the same—the rate at which your income is taxe...
That's not a lot, but it's quite a bit better than the goose egg you'll get from the IRS. "It takes some planning and some discipline, but it can definitely be worth it," says Wallace. "70 bucks is 70 bucks." Want to make extra money outside of your day job?...
Here's why some taxpayers are receiving the "Payment status not available" response,accordingto the IRS and Treasury. You recently filed your 2019 return If you recently filed your 2019 tax return, the IRS is processing your tax filing. That could result in a "Payment status not available" ...
If Republican hard-liners can’t come to terms with the Biden administration and a government shutdown occurs, it could cripple the IRS’s ability to process the nation’s tax returns. “Most likely it’s going to impact IRS processing the return and issuing out refunds,” Brewer said. “...
The Biggest Roadblock To A Quick Refund Is The IRS's Continuing Backlogs And Delays AsCBSNews.compoints out, with this tax season now in progress, taxpayers could see a repeat of last year's snarls in processing, when more than30 million taxpayershad their returns and refunds held up by ...