Important IRS Update Regarding Refunds 2-10-2012
The IRS has updated it’s Where’s My Refund site with additional FAQs: http://www.irs.gov/newsroom/article/0,,id=254102,00.html
Some taxpayers who filed electronically and received an acknowledgement from the IRS are concerned when they visit “Where’s My Refund” and are told that IRS has no information regarding their tax return. The IRS informed us on February 10 that this is a temporary situation and should be resolved in several days. At that time, you will be able to get an expected refund date when you visit “Where’s My Refund.”
This is an IRS issue and impacts returns regardless of who sends them in
to the IRS. This is not a TurboTax issue.
If you have received an acknowledgment of your tax return from the IRS, then the IRS assures us they have received your return and are processing it.
Information on the status of your refund will be updated in “Where’s My
Refund” once your return processes. This is a temporary situation, and we expect to resolve the matter in a few days.
IRS expects the vast majority of tax refunds to continue to be issued
within the historical range of 10 to 21 days.
We want to quickly share any updates we receive through IRS because we know many of you are still waiting for your refund status and estimated direct deposit date. We really appreciate your patience in this really frustrating time and we’ll continue to provide updates as we receive them from IRS.
So you filed your 2010 tax return and now your wondering, “Dude, Where’s My Refund?” Possibly, your tax refund is one of the checks out of $153 million in undeliverable tax refund checks just announced by the IRS, with an average refund totaling $1,547 this year!
Only a small percentage of checks mailed out by the IRS were returned as undeliverable, but 99,123 taxpayers’ 2010 tax refunds could not be delivered because of mailing address errors. With Christmas coming soon and the tough economy, you need your money as soon as possible. So how can you track your tax refund and how can you avoid this problem in the future?
How to Track Your Undeliverable Refund?
If you believe your tax refund may have been returned to the IRS as undeliverable:
- Use the IRS “Where’s My Refund?” tool. The tool will provide you with the status and, in some cases, may give you instructions on how to resolve delivery problems.
- Call the telephone version of “Where’s My Refund?” at 1-800-829-1954
How Can You Avoid Undeliverable Tax Refunds In the Future?
Here are steps to take to ensure you receive your 2011 tax refund:
- E-file your return – E-filing with tax software like TurboTax eliminates the risk of lost papers and errors. When you paper file there is no way to verify when, and if, your tax return is received or whether or not your tax return has errors. When you e-file, you receive confirmation from the IRS that your tax return is received and accepted. The IRS also recommends that you file your tax return electronically and supports tax software like TurboTax.
- Direct Deposit your Refund Check – Last year, more than 78.4 million taxpayers chose to have their refund checks deposited directly into their bank accounts. TurboTax gives you the option to deposit your tax refund directly into your bank account or you can request to have your tax refund placed directly on the TurboTax Refund Card.
The combination of e-file and direct deposit is the best option to avoid undeliverable tax refund checks and TurboTax makes it easy!
Nearly 8 out of 10 taxpayers chose to e-file for tax year 2010 and that number is expected to increase for tax year 2011, so what are you waiting for? Make your plans to e-file and use direct deposit for tax year 2011.