Refund Cycle

[erchess]

A return was accepted on Monday 1/30 so per my reading of the Refund Cycle Chart I told the client that while this could not be guaranteed the refund would most likely be direct deposited on 2/8. Now I just went to the Where's My Refund Utility and it says: "We have received your tax return and it is being processed. Unless there is a processing delay or you owe other taxes, you should receive your refund by February 14, 2012." I realize that nothing is for sure when it comes to the arrival of a tax refund but would it be fair to say that there are relatively low odds the refund will get in on 2/8?

[JG EA]

There was a notice that the IRS was delayed in giving refunds because of their new system or something.

I've been telling everyone that they are having problems and so the dates are just an estimate.

[WhiteOleander]

I tell my clients that I'm like an electronic mailman. (mail person?) I can get the return to the IRS. What they do after that is totally out of my control.

[S T]

My notices to clients

I am using a two week notice to clients for direct deposit from the efile date, if it arrives earlier that is great, and clients are happy, but if later, we will check on. I don't have the time right now to check on MY REFUND if it was not deposited in one week

JG is correct, IRS was on one week schedule, then a Bulletin was released, that refunds were delayed due to extra checking for fraud and Identity issues, or something like that.

Sandy

[Y2KEA]

I submitted a return which should have deposited to the TP last Friday. IRS said the same thing except should post by 2/7. They must still be working out the bugs for this year.

[BP.]

Refunds are all over the map this year. Some earlier, some later. I'm giving clients the chart date, but telling them the date is more fluid than prior years, so I'm also making sure people have the refund hotline number and also the website info to track their refund.

[Edward]

IRS made the following comments regarding the problem:

"If you filed electronically, you should expect a refund to be issued 20-21`days after the IRS accepts the return. Please do not call our toll-free number as our representatives cannot provide further info before processing is complete nor expedite processing. You may continue to check the web site for the latest refund info. The info at this web-site contains the same info provided on our automated telephone application. The web-site "Where's my Refund" will usually have info about your refund 72 hours after the IRS acknowledges receipt of your e-filed return, or three to four weeks after mailing a paper return. Check back weekly, on Wednesdays, for any updates to your refund information." Seems as tho they are changing the dates again!!!

[erchess]

TY for all responses

Unfortunately getting tax refunds will never be as easy and predictable as withdrawing funds from one's own financial account because the tax refund is not indisputably the taxpayer's money and even if it is there could be a legally prior claim on it. Unfortunately some taxpayers put themselves in a situation where they're hurting if a refund does not come through on the earliest possible date.

[ChEAr$]

Unfortunately getting tax refunds will never be as easy and predictable as withdrawing funds from one's own financial account because the tax refund is not indisputably the taxpayer's money and even if it is there could be a legally prior claim on it. Unfortunately some taxpayers put themselves in a situation where they're hurting if a refund does not come through on the earliest possible date.

Yep, and I am glad they are not my clients.