What About State Tax Refund Delays? Many states are also reporting delays in tax refunds this year. Much of this trickles down from delays at the IRS that were caused by the government shutdown. Many states use the federal tax code for guidance, and some federal laws trickle down into state laws.
In past years, about 75% of filers receives refunds after filing their federal income tax returns. Many people even count on a refund to help them pay down debt or cover bills early in the year. That means a delayed refund can cause problems for some. Let’s look at common reasons for a tax refund delay and how you may be able to prevent it.
If you're expecting a tax refund, the most common advice is that you should file your tax return as soon as possible. There is no reason to let the government keep your money any longer. But for some filers this year, your early tax return will be delayed because of new laws designed to stop identity theft.
It doesn't always mean the sky is falling if you don't get your refund check right away, US News & World Report explains. ... worry if your tax refund is delayed. Published Thu, Apr 5 2018 2:09 PM ...
Filing an incomplete tax return. A common cause of delayed tax return processing, leading to delayed refunds, is missing information on the return. "Failure to include basic information, such as the Social Security numbers of dependents, can significantly hold up a refund," according to Lee E. Holland, CPA, CFP, and former IRS agent.
It's a happy day when your federal tax refund arrives. Most taxpayers receive their refund within 21 days of filing, but sometimes the check is not in the mail or deposited to your bank account as quickly as you would like. Often, delays in receiving tax refunds are caused by matters within your control. Once you become aware of the issues that cause delays, you can take steps to avoid them.
Let's break down a few reasons why your tax return will be delayed, and what you can do about it. If you want a handy guide, check out this tax refund calendar: 2019 Tax Refund Calendar .
Accountants are worrying about the prospect of an extended federal shutdown as tax season approaches. That means there's a possibility that tax refunds may be delayed and it could be difficult to ...
You may get a letter or notice from the IRS saying there’s a problem with your tax return or your refund will be delayed. There are many reasons why the IRS may be holding your refund. You have unfiled or missing tax returns for prior tax years. The check was held or returned due to a problem with the name or address.
Taxpayers can start efiling their returns as soon as January 12, 2018 for taxes overpaid (refunds) in tax year 2017, using either an income tax preparer or through do-it-yourself tax programs.