The IRS began accepting tax returns on Jan 28, 2019. However, there have been some delays sending some tax refunds to taxpayers, even to those who filed their tax returns early.
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.
Let’s look at common reasons for a tax refund delay and how you may be able to prevent it. How Long It Takes the IRS to Process a Tax Refund. For 2018 tax returns (what you file by April 2019), the IRS has said it plans to issue more than 90% of refunds within 21 days. Some refunds could take as little as 14 days.
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 .
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.
There are a number of reasons a refund could be delayed, any of which are a legitimate cause for concern, says Brian Ashcraft, director of operations for Liberty Tax.
Why Is My Tax Refund Delayed? ... After you understand more about why the IRS delayed your tax refund, and how to respond to the IRS, do so right away to avoid further problems. ... Offset of Overpayment IRS Notice CP05 – Your Refund is Being Held While The IRS Reviews Your Tax Return IRS Notice CP42 – The IRS Applied Your Refund to Taxes ...
This action falls outside the normal return verification or audit process, and for many in the industry it seems to simply be a means of delaying the payment of tax refunds. There are nevertheless many reasons why a tax refund would be delayed after submission of the tax return:
The IRS says that for the 2018 income tax filing season, taxpayers with the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will likely see delays in their refunds. The ...
Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold. According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue these refunds before mid-February. The IRS expects the earliest EITC/ACTC related refunds to be ...