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Has anyone received the quick refunds to be made by the IRS when Form 7200 was faxed to the IRS?

IL-Tax-Pro
Level 3

I faxed a form 7200 for an advance refund for a client on 3rd quarter Form 941.  That was on 7/31/2020, almost 90 days ago.   How long are these taking?

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5 Comments 5
IRonMaN
Level 15

"How long are these taking?"

Sounds like at least 90 days.  

The IRS has been trying to dig out of the paper pile that they got buried under earlier this year.  Everybody just needs to have a little extra patience these days.


Slava Ukraini!
IL-Tax-Pro
Level 3

3 months ago, the IRS was telling practitioners to fax in Form 7200 to get a quick refund, rather than putting the overpayment on Form 941 to be sent to the client.

The IRS practitioner liaisons today do not even know that these fast Form 7200 refunds are not being processed.

Since they are ignoring Form 7200, I am asking for full refunds on 3rd Quarter 941s being done at this time.

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Accountant-Man
Level 13

At an IRS webinar today, the host said that the 13 million piece backlog of paper mail from March is now down to 6 million piece backlog.

I faxed my F7200 on 4/16/20 and received a check 5/29/20. (I think)

** I'm still a champion... of the world! Even without The Lounge.
sjrcpa
Level 15

A couple of weeks ago I heard, from an IRS person on a webinar, that the backlog was down to 5 million pieces. They are losing ground.

The more I know, the more I don't know.
Skylane
Level 11
Level 11

@IRonMaN  Slight correction < The IRS has been trying to dig out of the paper pile that they got buried under in 2003.....>

If at first you don’t succeed…..find a workaround