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I try to add tax blog articles weekly on tax topics that may be interesting to you. Please browse. If there is a topic you would like to see here or would like to more information on, please contact me.
Where’s My Refund? It’s been 6 weeks, 10 weeks, 12 weeks
Refunds are taking longer this year. Refunds are delayed if the 2020 tax year return:
- Claims Child Tax Credit. . For children under the age of 17 or a reduced amount for College Students or disabled children. . Refunds are subject to extra scrutiny because of fraud.
- Earned Income Credit . . . for working taxpayers with lower income with or without children IRS is mandated by law to hold these returns for review. Again fraud is an issue.
- Shows Unemployment income AND was filed before March 15, 2021. There was a tax law change. If taxable income was under $150,000 then up to $10,200 of unemployment income isn’t taxed. IRS must recalculate the new lower income and lower tax due because of the unemployment income status change and add the difference to the refund.
- Shows inaccurate information . If incorrect stimulus payment amounts were reported on the tax return, the IRS manually looks up the Stimulus payment amount distributed. Slows down return and refund processing.
- Is affected by IRS software issues. According to the IRS Agent I spoke to on June 4, 2021 sometimes a tax return will land in the wrong division, and the return is held by accident. In this situation, it can take 10 to 12 weeks from the Efiling date for the return to be fully processed. IRS is dealing with outdated computer system (funding cuts) and they still haven’t fully reopened because of COVID.
If “Get My Refund” program provides no information, then go to www.IRS.gov and set up a taxpayer online account. After the account is active, pull an 2020 tax year ACCOUNT TRANSCRIPT. Account Transcript portion of the IRS website is usually updated quicker than the Get My Refund app.
If still no information, call the IRS at 1 800-829-1040 first thing in the morning (7:00 a. m.). Use option 2, taxpayer’s accounts stay on the line until an IRS Agent answers. Record the date of the call and the Agent Name and badge number that answers the inquiry.
If no info, contact your tax professional and ask them to contact the IRS Practitioner Priority line on your behalf. . . .Patience is the order of the day. . .. . .