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Will You Need a Taxpayer Advocate (TA)?

Prayer method, I hope, carries us through this tax season; and, I also hope that people will not need to contact tax advocates this year to help navigate a tax fiasco some taxpayers experience.  But all of taxpayer have rights.  If the process of receiving your refund becomes a problem with the IRS and you … Read more

What days of the week does IRS process deposits?

What we have found so far: There has been mention that this year IRS will process direct deposits daily, excluding SUNDAYS. So depending on your financial institutions posting policies, taxpayers may see deposits on Mondays, Tuesdays, Wednesdays, Thursdays, Fridays and Saturday. IRS Refund Cycle Update: You can usually estimate when you’ll get your IRS refund … Read more

When is Where’s My Refund 2013 Available?

Where’s My Refund Tool is scheduled to be available when the floodgates open for taxpayers to e-file on January 30th. Last year, we closely watched when the tool was working and when it wasn’t because it seemed to have a downtime pattern. The IRS has posted information about the WMR tool’s availability this year. Availability … Read more

CONGRESS, AMT RELIEF AND LEGISLATION PASSED RELIEVES MILLIONS OF TAXPAYERS

American Taxpayer Relief Act was enacted finally at the close of 2012 saving millions of taxpayers from waiting to file tax returns. This legislation provided updated AMT income exemptions for 2012 and also addressed indexed amounts for the future and inflation. The amounts will now be automatically raised with inflation and passing new legislation each … Read more

Why the wait until IRS starts processing returns?

One cause presumably is our senators and representatives not working fast enough during the fiscal cliff debacle to finalize tax laws. And the effect? Taxpayers are now awaiting the IRS to update forms, publications, instruction and of course the systems to reflect changes and start running our returns through properly. The IRS aimed for January … Read more

January 22nd or January 30th?

Great News – My taxes are done.  Conflicting info already being passed down through the refund grapevine:  when does the IRS begin processing returns?  Well, I like to walk on the wild side, play with fire and the like; so, of course as soon as the forms were available through TurboTax today, I filed my return. … Read more

WHAT IS AN ACKNOWLEDGEMENT (ACK)?

The following information was extracted from the IRS Publication 1437 dated December 2012: IRS acknowledges each transmission of electronic return data. A return can be acknowledged (ACK) as accepted, even though it has not been through any mathematical verification. There are two types of ACK files: the Transmission ACK File and the Validation ACK File. … Read more

Where is the 2013 IRS Refund Cycle Chart?

irs refund cycle chart

This is what we have found so far: The refund cycle chart has been eliminated and replaced with an IRS Information Guidelines for the Tax Preparation Community publication. We have said goodbye to the former refund cycle chart in replacement of a standard “21 days” response from the IRS. Remember this?  The IRS Refund Cycle Chart was eliminated … Read more

How early can I file my taxes online?

how to file taxes online

And when does the season begin?  It is currently Tax Year 2012.  Tax Year 2012 began on January 1, 2013 and you will file for year 2012.  Rumor has it that IRS will not issue a refund cycle chart… hmmnn, maybe because of the debacle last year?  What about the fiscal cliff?  Will that and … Read more

WHAT IS THE LINGO “HDD” VS. A “DD”?

These terms are thrown around when discussing the dates provided by the WMR. HDD was coined as “hard direct deposit” because the language from WMR says something about “your refund will be deposited on XX” and trends tell us that this is usually a firm (hard) date that doesn’t hange and pretty accurate. A DD … Read more