Tax Refunds

[Kabow]

A previous client filed her own taxes  for 2020, She used Turbo tax, This was accepted by the IRS on Feb12th. She still has not received her refund.

Does anyone know how the payments are running or is there a way to get an answer on this other than "Where's my refund"?

Thanks everyone!

Kabow

[qbteachmt]

Yes, that's what she should use.

Are you signed up for IRS e-news to your email? There are a lot of government newsletters you can select to get. For instance, I get payroll, retirement, NFP, local government, IRS, CFPB, etc.

This came in yesterday:

COVID Tax Tip 2021-39: Here’s how taxpayers can track the status of their refund

And here it is, on the web:

https://www.irs.gov/newsroom/heres-how-taxpayers-can-track-the-status-of-their-refund

"Here’s how taxpayers can track the status of their refund

Tracking the status of a tax refund is easy with the Where's My Refund? tool. It’s conveniently accessible at IRS.gov or through the IRS2Go App.

Taxpayers can start checking their refund status within 24 hours after an e-filed return is received.

Refund timing
Where's My Refund provides a personalized date after the return is processed and a refund is approved. While most tax refunds are issued within 21 days, some may take longer if the return requires additional review.

Here are some reasons a tax refund may take longer:

• The return may include errors or be incomplete.
• The return could be affected by identity theft or fraud.
• Many banks do not process payments on weekends or holidays.

Claiming the recovery rebate credit on a 2020 tax return will not delay processing of a tax return. However, it is important that taxpayers claim the correct amount. If a correction is needed, there may be a slight delay in processing the return. If corrections are made, the IRS will send the taxpayer notice explaining any changes. The recovery rebate credit will be included in the tax refund.

The IRS will contact taxpayers by mail if more information is needed to process their tax return.

Fast and easy refund updates
Taxpayers can start checking on the status of their return within 24 hours after the IRS acknowledges receipt of an electronically filed return or four weeks after the taxpayer mails a paper return. The tool's tracker displays progress in three phases:

1. Return received
2. Refund approved
3. Refund sent"

[baflowers]

This doesn't really answer as to why returns that were accepted Feb 13th are not issuing refunds. these are repeat clients, nothing new, no outstanding W2's. I have several that "are still processing". I've seen no alerts, no newsletters responding to this issue. Is the IRS out of money? I have the normal high W2's that have to be verified but repeat tax returns for small families? 

[qbteachmt]

"This doesn't really answer as to why returns that were accepted Feb 13th"

You need to confirm IRS status, to know if anything was an issue for the processing. That's why you use the methods I posted, which was provided by the IRS.

"are not issuing refunds."

You've confirmed the refund has been denied, then? Or, are you stating "not issued" when it simply hasn't happened yet? Because things are a bit busy at the IRS, thanks to Congress and late changes to the tax year and the effects carried over from last year.

"these are repeat clients," <== meaningless to the IRS

"nothing new," <== meaningless to the tax year filing

"no outstanding W2's." <== I don't even know what an "outstanding" W-2 would be

"I have several that "are still processing"." <== Perfect

"I've seen no alerts, no newsletters responding to this issue."

The IRS has issued notifications. Are you not signed up for their e-newsletters? On this forum, just a day or so ago, someone mentioned that an IRS agent told them they were just now opening mail from Aug 2020.

"Is the IRS out of money?"

Uh...the IRS doesn't "have" money. The US Treasury has money.

"I have the normal high W2's that have to be verified but repeat tax returns for small families?"

That has no bearing on the status of the return, which you already verified has been sent, received, accepted, and in process.