Why is my 2014 refund still processing?

2014 IRS Tax Refund Schedule wrong for you?

By the stats, the current tax season has been quite a success. The Internal Revenue Service is reporting that, despite an abbreviated season, they are processing tax returns and issuing tax refunds at a much faster pace than last year. Why is my 2014 refund still processing?

Of course, all of the numbers in the world don’t matter when the one number you’re counting on – your own refund – is affected.

This season, I’ve heard from a number of taxpayers experiencing tax refund delays (though certainly nothing near last year’s education credit snafu). Initially, the trouble seemed to focus on those 1121 codes. The IRS was made aware of the problem and did issue a statement, saying: Continue reading…

Millions of taxpayers have already received big refund checks, as the 2014 tax filing season seems to be humming along without a hitch. IRS issuing many refund checks already.

It’s not too surprising that this filing season is running more smoothly than last year, when the IRS lagged the previous year’s pace for issuing refunds throughout most of the filing season. The agency had to put off accepting certain tax forms until as late as March because it was updating its systems following the tax-code revamps caused by the fiscal-cliff legislation.

But taxpayers are also submitting their returns more quickly. The IRS received more than 27 million returns as of Feb. 7, up 2.5% from the same time in 2013. Nearly 96% of those were filed electronically. Samuel Hale, 21, a college student near Fort Worth, Texas, says his refund was deposited into his checking account Friday morning, a week after he filed his return electronically using online software. “I was very surprised,” says Hale, who couldn’t file his return until April last year because of a missing W-2 form.

In an interesting shift, the data shows more taxpayers are doing their own returns so far this tax season. Roughly half of the returns submitted, or 13.3 million, were self prepared, up 14.7% from last year. Typically, about 60% of returns are handled by a tax pro, according to IRS data.

Of course, not all taxpayers have been able to file their returns yet. Some people are still waiting on paperwork from their brokers, employers or colleges that they need to report all income and claim certain tax breaks. And some people aren’t eager to file their returns. Taxpayers who need to cut a check to the IRS generally wait until closer to April 15 to file.

Taxpayers can track their refunds using the  “Where’s My Refund?” tool starting 24 hours after filing electronically, or four weeks after mailing in a return. About 90% of refunds are issued within 21 days, though some may be delayed if there is an issue with the return.

Discuss this and more on the Income Tax Forums.

Tax Refund 2014 – 2/14/2014 turbo tax netspend

It’s that time of year again. You know, the time of year where you’re relegated to doing a lot of waiting. And waiting. It’s hard, I know, between the delayed opening for tax season and the terrible weather that we’re experiencing in parts of the country. Things are moving kind of slow. Plus side? They are moving. Here’s the skinny so far:

I know, you’re already fretting about where your refund might be. The good news is that I’ve heard that refund checks are slowly making their way to your bank accounts. If you’re wondering where yours might be, you can check the“Where’s My Refund?” online tool at IRS: you can check on your status within 24 hours after the Internal Revenue Service has received your e-filed return or four weeks after you mail a paper return. The system is available pretty much all of the time but it does shut down from time to time for updating, specifically the system is unavailable every Monday from 12:00 am (Midnight) to 3:00 am EST.

There are three stages of refund claims according to the system: (1) Return Received, (2) Refund Approved and (3) Refund Sent.

Return Received means… well, you can figure that one out.

Refund Approved means that the IRS has processed your return and your refund has been approved. The IRS will send your refund to your bank via direct deposit or directly to you in the mail if you requested a paper check. The fastest way to get your refund is by using direct deposit.

Refund Sent means that your refund is on the way. If the IRS has sent your refund to your bank or other financial institution for direct deposit, it may take 1 – 5 days to deposit the funds into your account. If you requested a paper check, it could take several weeks for your check to arrive in the mail; the same time frame applies to debit cards.

Expect to see your refund in hand within 21 days though, anecdotal, if you use a combination of e-filing and direct deposits, last year taxpayers reported receiving their refunds with ten days of filing (fingers crossed). The system is only updated once a day (usually at night) so the IRS is imploring you to only check once a day – so many folks checked repeatedly last year that it crashed the system.

If you have limited access to internet, the IRS does have phone and walk-in updates for refunds. With limited available resources, they’re not excited about picking up the phone – but they will (maybe). But you will have to wait. They can only answer questions in person or by phone if it’s been 21 days or more since you filed electronically, or more than 6 weeks since you mailed your paper return.

It’s possible your tax return may require additional review and take longer. This can happen when the return has errors or is missing information. Take the extra time to double-check the return before you send it so that you can avoid any obvious and silly mistakes, like forgetting to sign the return. If there are other issues, like duplicate claims for dependents (happens with divorces quite often), injured spouse claims or identity theft or fraud, the IRS will have to investigate a little and that will slow your refund.

If you need to file an amended return, be prepared to wait. Processing times alone for amended returns can take up to sixteen weeks. You can check on the status of refunds related to amended returns by using the “Where’s My Amended Return?” tool on the IRS website.

And that brings up another issue: certain returns are a bit complicated. And processing times are longer for those returns. And you don’t want to wait. I know that you don’t want to wait because I’ve seen your emails – you know, the ones with all of your creative strategies for getting your refunds faster than you are supposed to. So let me help you out: don’t cheat to get your money faster. It’s simply not smart.

Yes, I’ve seen and heard all of the tricks. Filing as HOH to get the refund now and amending later. Filing with more dependents than you’re entitled to and figuring it out later. Overstating deductions. Understating income. And I know that you’re going to explain to me that it’s fine because you know your Uncle Jimmy did it and he got away with it. Well, super for Uncle Jimmy. But the reality is that lying on your return is wrong. It’s also criminal.

Even assuming that you don’t get charged criminally for fraud, the IRS does track patterns of tax behaviors. And if they notice that you happen to be the taxpayer who files for refund each February and amends each April, you’ll eventually be flagged. And in addition to slowing future refunds, you’ll also get socked with a pretty nasty punch. Trust me. These are the clients who end up in my office with a tax liability nearly two or three times the original amount owed once the penalties and interest have been piled on. It’s not smart. It’s wrong. And it’s completely not worth it.

So there you have it. The quick and dirty state of tax refunds for 2014 to date. Unlike last year’s fiasco with the educational credits, I haven’t heard of any patterns of errors on the part of IRS or any specific software companies. I’m constantly checking for you and I’ll be posting updates as they are made available.

Until then, be patient, be diligent and try not to rub that whole you’re-getting-a-refund thing in our faces. Some of us might be a little bitter.

Learn about Topic 152. Discuss this on the Income Tax Forums.

First IRS 2014 Direct Deposits Just Went Out.

February 6th, 2014, 12:00A.M. the I.R.S. sent out thousands of tax payments to individuals who filed before January 31st, 2014. Some individuals who filed before January 31st, 2014 were not included in this due to the overflow of individuals who submitted their returns. Those individuals should watch the Where’s My Refund page and expect a payout on the next payout day being “on or before February 13th, 2014.”

Also a very important note: “if your payment was sent to like turbotax type where it has to go through another bank to take out fees then you have to wait until that bank opens and they will process them. Some banks are not open yet so check your accounts later this morning or afternoon.”

Please reply to this post when you submitted, were accepted, approved, and if you received your refund last night.

Today is the official start to the I.R.S. 2013 Tax Season. We want to compile a list of payments dates for our users to see to better help them determine the date that they will get their refund. So we pose the question, “When did you get your refund 2014?”

We would like everyone to reply to this post with the date that their refund was accepted and the date that I.R.S. has set for their direct deposit or check. To find out this date, you will need to visit the I.R.S. Where’s My Refund webpage.

Optionally, we would also like you to post the date that your state refund, what state, and when your state finance department gives your refund date. To find out this, visit our Where’s My State Refund page.

Please comment below with Federal Acceptance Date, Federal Payout Date, (optional) State Acceptance Date, State, and State Acceptance Date.

Thank you for helping to make our 2014 Refund Schedule to be as accurate as possible.

Discuss this on The Income Tax Forums.

2014 IRS Refund Cycle Chart and e-file payment information.

This is a schedule for 2014 IRS Refund Cycle Chart. Direct Deposit and Check date’s below. Please see disclaimer. 2014 tax refund schedule is listed below for information purposes. 

2014 IRS Tax Refund Schedule Dates

IRS accepts your return (by 11:00 am) between…*					Projected Direct Deposit Sent*	Projected Paper Check Mailed*
				January 30 2014	2/5/2014	2/7/2014
February 01		and		February 08 2014	2/12/2014	2/14/2014
February 09		and		February 15 2014	2/19/2014	2/21/2014
February 16		and		February 22 2014	2/26/2014	2/28/2014
February 23		and		March 01 2014	3/5/2014	3/7/2014
March 02		and		March 08 2014	3/12/2014	3/14/2014
March 09		and		March 15 2014	3/19/2014	3/21/2014
March 16		and		March 22 2014	3/26/2014	3/28/2014
March 23		and		March 29 2014	4/2/2014	4/4/2014
March 30		and		April 05 2014	4/9/2014	4/11/2014
April 06		and		April 12 2014	4/16/2014	4/18/2014
April 13		and		April 19 2014	4/23/2014	4/25/2014
April 20		and		April 26 2014	4/30/2014	5/2/2014
April 27		and		May 03 2014	5/7/2014	5/9/2014
May 04		and		May 10 2014	5/14/2014	5/16/2014
May 11		and		May 17 2014	5/21/2014	5/23/2014
May 18		and		May 24 2014	5/28/2014	5/30/2014
May 25		and		May 31 2014	6/4/2014	6/6/2014
June 01		and		June 07 2014	6/11/2014	6/13/2014
June 08		and		June 14 2014	6/18/2014	6/20/2014
June 15		and		June 21 2014	6/25/2014	6/27/2014
June 22		and		June 28 2014	7/2/2014	7/4/2014
June 29		and		July 05 2014	7/9/2014	7/11/2014
July 06		and		July 12 2014	7/16/2014	7/18/2014
July 13		and		July 19 2014	7/23/2014	7/25/2014
July 20		and		July 26 2014	7/30/2014	8/1/2014
July 27		and		August 02 2014	8/6/2014	8/8/2014
August 03		and		August 09 2014	8/13/2014	8/15/2014
August 10		and		August 16 2014	8/20/2014	8/22/2014
August 17		and		August 23 2014	8/27/2014	8/29/2014
August 24		and		August 30 2014	9/3/2014	9/5/2014
August 31		and		September 06 2014	9/10/2014	9/12/2014
September 07		and		September 13 2014	9/17/2014	9/19/2014
September 14		and		September 20 2014	9/24/2014	9/26/2014
September 21		and		September 27 2014	10/1/2014	10/3/2014
September 28		and		October 04 2014	10/8/2014	10/10/2014
October 05		and		October 11 2014	10/15/2014	10/17/2014
October 12		and		October 18 2014	10/22/2014	10/24/2014
October 19		and		October 25 2014	10/29/2014	10/31/2014
October 26		and		November 01 2014	11/5/2014	11/7/2014
November 02		and		November 08 2014	11/12/2014	11/14/2014
November 09		and		November 15 2014	11/19/2014	11/21/2014
November 16		and		November 22 2014	11/26/2014	11/28/2014
November 23		and		November 29 2014	12/3/2014	12/5/2014
November 30		and		December 06 2014	12/10/2014	12/12/2014
December 07		and		December 13 2014	12/17/2014	12/19/2014
December 14		and		December 20 2014	12/24/2014	12/26/2014
December 21		and		December 27 2014	12/31/2014	1/2/2015

*These are only estimates, the I.R.S. has refused to give exact dates to new audit process. There are no guarantees with the I.R.S this year, but one thing is for sure. The earlier you file, the earlier you will receive a return. Contact us today for more details and to schedule your early tax appointment.

2012 IRS income Tax Refund Schedule.

IRS Income Tax 2014 news.

tax return payout schedule

2014 IRS Tax Refund Schedule Dates

The U.S. Internal Revenue Service delayed the start of the tax-filing season for one to two weeks, citing the recent 16-day federal government shutdown.

The IRS, which had been scheduled to open filing Jan. 21, 2014, will now begin accepting returns for tax year 2013 as early as Jan. 28. The agency will make a final decision on the date in December, according to a statement today.

“Readying our systems to handle the tax season is an intricate, detailed process, and we must take the time to get it right,” Danny Werfel, the acting IRS commissioner, said in the statement.

This is the second year in a row that the IRS has postponed the filing season. Returns for 2012 were accepted starting on Jan. 30 after Congress delayed setting some tax policies.

“Considering the IRS has dealt with much larger changes on far shorter notice over the past years without delay, its reasons are suspect,” Sarah Swinehart, a spokeswoman for the Republican-led House Ways and Means Committee, said in an e-mail.

The IRS furloughed more than 90 percent of its employees during the shutdown, which began Oct. 1 when Congress was unable to pass a spending bill and ended after midnight Oct. 17.

‘Adds Insult’

“This is yet another unfortunate effect of a shutdown that Republicans should have never caused,” Representative Sander Levin of Michigan, the top Democrat on the Ways and Means Committee, said in a statement. “This tax-filing delay just adds insult to injury for Americans hoping to get a jump-start on their tax refunds in January.”

The delay won’t alter the April 15 deadline for taxpayers to file their returns or seek extensions.

At the start of the filing season, the IRS largely issues refunds to taxpayers who file as soon as they can. This year, the IRS issued $135 billion in refunds from Jan. 30 to March 1. That’s more than was paid from March 2 to May 10, when the agency received 50 percent more returns.

Delaying refunds could have an additional consequence in 2014. The U.S. debt limit is suspended through Feb. 7, and changes in the government’s projected spending after that date will affect the timing of how long the Treasury Department’s extraordinary measures to prevent a default will last.

Because the government may issue more refunds after Feb. 7 than previously anticipated, a potential lapse in borrowing authority could come a few days sooner than projected, said Loren Adler, research director at the Committee for a Responsible Federal Budget in Washington.

The delayed start of tax-filing season probably will create a backlog of potential returns for the start date, rather than delaying all returns equally.

“Those are folks who are trying to do this as soon as their books are in order,” Adler said.

The Bipartisan Policy Center projects that the U.S. will run out of borrowing authority between the end of February and mid-March 2014.

Discuss this and more in the Income Tax Forums.

IRS Shutdown?

The October 15th Deadline Remains in Effect for Taxpayers Who Requested a Six-month Extension to File Tax Return.

Just because IRS employees are not available to answer phones or issue refunds, due to the current lapse in federal appropriations does not mean filing deadlines and payment due dates can be delayed.  IRS warns all taxpayers of the continuing requirement to meet their tax obligations as normal. Individuals and businesses should keep filing their tax returns and making deposits with the IRS, as required by law.

Many of the more than 12 million individuals who requested an automatic six-month extension earlier this year have yet to file their Form 1040 for 2012. Though Oct. 15 is the last day for most people to file, some groups still have more time, including members of the military and others serving in Afghanistan or other combat zone localities who typically have until at least 180 days after they leave the combat zone to both file returns and pay any taxes due. People with extensions in parts of Colorado affected by severe storms, flooding, landslides and mudslides also have more time, until Dec. 2, 2013, to file and pay.

The IRS offered several reminders for taxpayers during the current appropriations lapse:

• Taxpayers are encouraged to file their returns electronically using IRS e-file or the Free File system to reduce the chance of errors.
• Taxpayers can file their tax returns electronically or on paper. Payments accompanying paper and e-filed tax returns will be accepted and processed as the IRS receives them. Tax refunds will not be issued until normal government operations resume.
• IRS operations are limited during the appropriations lapse, with live assistors on the phones and at Taxpayer Assistance Centers unavailable. However,www.IRS.gov and most automated toll-free telephone applications remain operational.
• Tax software companies, tax practitioners and Free File remain available to assist with taxes during this period.

E-file Now – The IRS urged taxpayers to choose the speed and convenience of electronic filing. IRS e-file is fast, accurate and secure, making it an ideal option for those rushing to meet the Oct. 15 deadline. The tax agency verifies receipt of an e-filed return, and people who file electronically make fewer mistakes too.   Of the nearly 141.6 million returns received by the IRS so far this year, 83.5 percent or just over 118.2 million have been e-filed.

Anyone expecting a refund can get it sooner by choosing direct deposit. Taxpayers can choose to have their refunds deposited into as many as three accounts. See Form 8888 for details.

Payment Options – Taxpayers can e-pay what they owe, either online or by phone, through the Electronic Federal Tax Payment System (EFTPS), by electronic funds withdrawal or with a credit or debit card. There is no IRS fee for any of these services, but for debit and credit card payments only, the private-sector card processors do charge a convenience fee. For those who itemize their deductions, these fees can be claimed on next year’s Schedule A Line 23. Those who choose to pay by check or money order should make the payment out to the “United States Treasury”.

Taxpayers must be sure to file their return by Oct. 15, even if they can’t pay the full amount due. Doing so will avoid the late-filing penalty, normally five percent per month, that would otherwise apply to any unpaid balance after Oct. 15. However, interest, currently at the rate of 3 percent per year compounded daily, and late-payment penalties, normally 0.5 percent per month, will continue to accrue.

For additional information seehttp://www.irs.gov/uac/Newsroom/Reminder:-Oct.-15-Tax-Deadline-Remains-During-Appropriations-Lapse

2014 IRS Refund Cycle Chart and e-file payment information.

This is a schedule for 2014 IRS Refund Cycle Chart. Direct Deposit and Check date’s below. Please see disclaimer. 2014 tax refund schedule is listed below for information purposes. This is just for the first week. Find out when you’re state income tax refund will be in. Please consider donating $1 to $5 to us for help with cost of running the site. Thank you.

Please note that due to heavy volumes on the opening week of tax season, several direct deposits may be pushed to the second week of payouts. 

Morris, a former political adviser to Sen. Trent Lott (R-Miss.) and President Bill Clinton, is the author of “Outrage.” To get all of Dick Morris’s and Eileen McGann’s columns for free by email, go to www.dickmorris.com.