Everything about tax refunds — timing, tracking, delays, and what to do if yours isn’t showing up.
Next week, hopeful taxpayers will begin checking bank accounts for tax refunds. Tax season opened Jan. 24, 2022, and the IRS says most taxpayers who file a tax return with no issues should expect a refund within 21 days if they file electronically and choose direct deposit. But with backlogs and bad information, some taxpayers…
Chances are, you’re about to come into some money soon — whether it’s your tax refund or the 2021 stimulus check. But what do you do with it now that you have it? For many people, getting a lump sum of money is new to them and they don’t want to blow the opportunity. That’s…
Taxpayer asks: How can I update my direct deposit information with the IRS? I filed my 2019 individual return through a tax preparer & my direct deposit went to a joint account with my now ex-wife that was closed recently. All of the scenarios online do not apply to my situation, so hoping you can…
Looking for your interest? The Internal Revenue Service (IRS) will begin sending interest payments to individual taxpayers who timely filed their 2019 federal income tax returns and are due refunds. The IRS pegs that number at about 13.9 million taxpayers. In June, the IRS announced that if you were entitled to a 2019 tax refund, individual federal income tax…
The Internal Revenue Service (IRS) may have your money. The tax agency has announced that more than $1.5 billion in outstanding refunds remain unclaimed from 2016. Yes, billion. That represents well over one million taxpayers who might have qualified for a refund but did not file a federal income tax return for 2016. If you are due…
If you were entitled to a 2019 tax refund, you may be in store for some good news: individual federal income tax refunds issued after April 15 will be paid with interest. The Internal Revenue Service (IRS) has announced that individuals who file their 2019 tax returns before the July 15 deadline will receive interest…
It has long been the case that if you owe money, your federal income tax refund can be seized to satisfy your debt. Examples of federal debts that might trigger offsets include federal income tax delinquencies and student loan defaults. States can ask the Internal Revenue Service (IRS) to intercept, or offset, federal tax refunds…
As COVID-19 continues to impact the United States, the federal government is taking action to ease the burden on taxpayers. Most recently, as part of the CARES Act, the Treasury Department is sending out stimulus checks to most (but not all) Americans. Those stimulus checks are starting to hit bank accounts now, which is offering relief…
The tax filing season opens on January 27, 2020. If you’re looking for ways to keep on top of things, check out IRS2Go, the official mobile app of the Internal Revenue Service (IRS). With IRS2Go, you can check your refund status, make a payment, and find free tax preparation assistance. Some of the features on…
It’s a good idea to mull over other strategies before applying for a tax Refund Anticipation Loan (RAL). Just make sure they’re appropriate alternatives. Here are a few to consider: 1. Adjust your withholding. If you’re getting a big tax refund, that can mean that you’re having too much money withheld from your paycheck. You might do better…
