At 1040.com, we strive to keep you
informed of all the latest news surrounding the tax industry. The
IRS issued the following alert yesterday and we wanted to
share:
"The IRS has opened its filing season successfully this month,
and refunds have started going out to many taxpayers. As with the
start of any tax season, there are system validations that occur
requiring some fine-tuning of our systems. As part of this, some
taxpayers will receive refunds approximately one week later than
initial projections they may have received, but these are still in
line with historical refund delivery times.
"The IRS reminds taxpayers that refund time frames provided by
"Where's My Refund" and tax providers are projected time frames and
are subject to revision. Many different factors can affect the
timing of the refund after the IRS receives the return for
processing. The IRS apologizes for any inconvenience caused
by the revised refund dates.
"When the IRS announced the opening of the 2012 filing season,
it advised taxpayers who electronically file and select direct
deposit that they could see their refunds in as few as 10 days and
90 percent of refunds are provided within 21 days. Some taxpayers
are getting refunds much faster, but at this time taxpayers should
expect refunds to be issued as indicated in the original IRS
guidelines.
"The one-week delay for some refunds relates to fine-tuning IRS
systems to adjust for new safeguards put in place this tax season
to provide stronger protection against refund fraud. The IRS
is providing additional screening for fraud this year before
issuing refunds, but the vast majority of taxpayers can still
continue to expect to receive their refunds in a timely
fashion."
Good news is, returns transmitted and accepted prior to 1/24 are
the ones affected; returns accepted 1/25 and beyond should be
processed under the normal processing times set forth by the IRS refund cycle chart.
If you have questions about your refund after filing with
1040.com, feel free to contact us: fileonline@1040.com.