Possible update to processing dates

[Renae]

Here’s new speculation:
There’s a second system that double checks w2s with employer submission due 1/31/2017. This means that starting today, if you have 02/13/2017 as a processing date then you are currently going through this system if all goes well then your refund will be released. But i believe when we got the big update on February 4 we have already gone through that system and put on hold until 15th. And the rollout for refunds start today. I don’t believe that returns have to go through another system at this point other than releasing our funds.

[Lulu]

Well, that is beyond stupid…..so the IRS is processing returns TWICE? That makes zero sense. Why wouldn’t they just hold the return and then process it one single time? Millions and Millions of returns????? What?!?!

[WillBeas]

@John Jones

The law this yr is employers had until the 31st of Jan to submit W2’s, its part of the new portion of the PathAct as well..

[Renae]

@johnjones
The new law for 2016 details that employers must submit employee info to government (SSA or IRS, idk which for sure by 1/31/2017.

[john jones]

In February, the employer sends a copy to the government. The IRS gets their copy in May. Next Fall, after the rush, the IRS runs a matching program to see if you filed all of your income and if you filed it correctly. If there is an error and you would owe, you get a CP2000 telling you that they found the error and to send the money within 30 days.

[Kellyo]

Has ANYONE seen an update on sbptg today ? I was hoping all of us with a processing date of 2/13 would see something deposited there, if not in their account. I am sure if someone had seen something, they would have posted here. I’m tired of speculating……

[Author]

Replies