Income tax refund yet

[agesilaus]

Anyone get their income tax refund yet. Got it in 10 days last year and it's going on a month now.

Also Biden passed the 1900 billion graft package in the senate last night, it has to go back to the house tho. 170 billion of which actual going to virus expenses.

Edited March 6, 2021 by agesilaus

[SWharton]

I thought I heard the IRS didn't start processing until Mid-Feb, probably a backlog.

[packnrat]

thanks to the governor of ca shutting down ca, i can not even find a tax place open.

[hemsteadc]

Refund?  What's that?   I've been paying for years.  They're never late picking that up.

Edited March 6, 2021 by hemsteadc

[vermilye]

I got mine electronically on February 22.

 

[Rover]

1 minute ago, vermilye said:

I got mine electronically on February 22.

 

We got ours on the 22nd also (direct deposit) which was actually about two weeks or less  after the IRS started accepting returns. I can’t remember the exact date our return was accepted.

Vicki

 

[sandsys]

Dave says we got ours a week or two ago. We're not real good on elapsed time anymore.

Linda

[Ropeshaft]

The IRS started processing 2020 returns on February 12th.  I filed electronically in late January and indicated they could take my payment immediately.  They didn’t take it until February 17^th.

[agesilaus]

IRS slow this year

This explains it, they are way behind last years rate of processing

[TXiceman]

I can't even file yet.  Still waiting on final brokerage statements.  Usually do not get them until mid to late March.

Ken

[durangodon]

6 minutes ago, TXiceman said:

I can't even file yet.  Still waiting on final brokerage statements.  Usually do not get them until mid to late March.

Ken

Wow.  Is that a major brokerage firm?  I've only used Vanguard, and they deliver them in late January.  Of course, mine may be a lot simpler than yours.  😀

[hemsteadc]

24 minutes ago, TXiceman said:

I can't even file yet.  Still waiting on final brokerage statements.  Usually do not get them until mid to late March.

Ken

You mean paper statements?

[TXiceman]

1 hour ago, hemsteadc said:

You mean paper statements?

Nope, electronic.  I get the statement on line and on the top of the statement...PRELIMINARY, subject to revision.

Ken

[Barbaraok]

Ken, I would be looking for another broker if they can’t get the information out by end of February.  

[2gypsies]

1 hour ago, Barbaraok said:

Ken, I would be looking for another broker if they can’t get the information out by end of February.  

Exactly.  We got ours mid-Feb.

[whj469]

The IRS started accepting 2020 Tax returns on February 12th. If you filed thru Turbo Tax or Tax Act before then they held them until February 12th when the IRS would accept them.

[agesilaus]

I couldn't find my last year's return so we sent in a paper return but electronic refund. I got an letter about virus cash so they have it and at least partially processed it. I sent for a transcript of the missing year and got that three or four days after we mailed it in. All this was before the 12th using HR Block software. Figured it could take weeks to get the transcript but they were quite prompt.

[DanZemke]

My IRS refund, usually arrives promptly. 

For me, it's a bit slow this year.  I filed electronically on Feb 11 and my current status, according to https://www.irs.gov/refunds is :  "Your tax return is still being processed."

😞

[Twotoes]

I sent the IRS a statement that my tax payment is still being processed and will experience a short delay. Not sure what they will do? Lol lol lol 😂 

[DanZemke]

I just got off the phone with the IRS robo-supporter.  It asked me my SSN, Filing Status and amount of last years refund.  Then it immediately answered with: "Your return is still being processed" and hung up.

Sure glad they have a customer "support" line.  

😞

P.S. I filed electronically on Feb 11

Edited March 8, 2021 by DanZemke
clarity

[DKRITTER]

Sorry, and I'm not being tacky.

 

If you're getting a refund you're doing your taxes wrong. You have to much coming out during the year, your net should be as close to $0.00 as possible.

[hemsteadc]

26 minutes ago, DKRITTER said:

If you're getting a refund you're doing your taxes wrong. You have to much coming out during the year, your net should be as close to $0.00 as possible.

That's easy to do when you have a single steady income, but with investments etal constantly changing, not so much.

[Barbaraok]

22 minutes ago, DKRITTER said:

Sorry, and I'm not being tacky.

 

If you're getting a refund you're doing your taxes wrong. You have to much coming out during the year, your net should be as close to $0.00 as possible.

Exactly.   We never get one because if we do make a small excess in estimated taxes each year, we just roll that rerun into next year's tax payments and recalculate our estimated taxes for the coming year.     

[DKRITTER]

I realize it's a bit like trying to predict where the football is going to bounce.

 

BTW, I am also self-employed and I feel the issue constantly. It like everything else is a constant balancing process.

[agesilaus]

Yeah I know that but there is mandatory withholding from 457 accounts of 20%. So you have to wait to get that money back. Until I retured we always paid tax at the end of the year.