A Little Known Secret About Your IRS Refund Schedule in 2014

2014-02-27 Admin

One thing that can affect your IRS Refund Schedule in 2014 is a Refund Offset.  If you owe money to any number of governmental agencies, your tax refund may be decreased in order to satisfy those debts.  You may not even get your refund if you owe enough.  Determining how your IRS tax refund is affected by non-tax debts takes the IRS processing centers more time, and therefore your IRS Refund Schedule will be extended.

What is the Tax Refund Offset Program?

If you have child support that you haven’t paid, the Department of Treasury’s Bureau of Fiscal Service will take your refund money to pay your past due child support.  These federal agencies work together to get their money, and even if they don’t take your entire tax refund, they will certainly delay your own IRS Refund Schedule in 2014 while they figure things out.

The Treasury works with other federal agencies too, even ones that have nothing to do with taxes.

It doesn’t stop there.  The Bureau of Fiscal Service works with certain state agencies as well.  If you have past due bills with your state’s income tax bureau, your federal tax refund may be affected to pay that bill, too.

What to do if Your IRS Refund Schedule for 2014 is Affected by Unpaid Bills

If you suspect that your IRS Refund Schedule 2014 is delayed and extended because of past due bills with governmental agencies, simply call those agencies to find out.  Ask if your past due bill was submitted to the BFS (Bureau of Fiscal Service) for a tax refund offset.  You can also call BFS directly to find out.  The BFS toll free number is:

800-304-3107

What to do if You Filed Jointly

If you filed married filing jointly and your IRS refund was reduced due to unpaid bills of your spouse, you are entitled to your share of the refund.  File IRS Form 8379, Injured Spouse Allocation.  

 

Do You Know This IRS Tax Refund Status Rule?

2014-02-25 Admin

If there’s one rule to follow when it comes to your IRS Tax Refund Status, it’s this:

Do not attempt to get your refund status from any source other than the IRS.

Oh sure there are plenty of ways to find out where your refund might be, but if you choose the wrong method you may be participating in your own identity theft.  The IRS website at www.irs.gov is the only place on line where you should even be considering checking on the status of your IRS tax refund.  And the IRS is never going to call you to ask whether you want to know your IRS Tax Refund Status.  You can call the IRS but don’t give out your personal information to anyone who calls you.

Why is This IRS Tax Refund Status Rule So Important?

This rule is so important because it safeguards you, the taxpayer, from identity theft and theft of your tax refund.  There are scammers out there who pose as the IRS.  The make websites.  They make phone calls.  They try everything they can think of to get you to reveal your personal information such as your Social Security Number, your date of birth, your tax filing status, etc.

Then, they use that to pretend they are you, and do all sorts of things:

  • get credit cards in your name and run up the bill, leaving you with the debt
  • log onto the IRS website and redirect your IRS tax refund to their own bank account
  • file a tax return in your name, creating a huge tax refund which of course is sent to them, not you

…and of course the sky’s the limit on what identity thieves have in mind for your personal data once they steal it from you.  So again, please don’t give out your personal information when you’re trying to simply find out your IRS Tax Refund Status.

 

3 Reasons Why there is no IRS Direct Deposit Schedule in 2014

2014-02-25 Admin

The IRS Direct Deposit Schedule 2014 goes like this:

  1. e-file accepted by IRS
  2. IRS sends email to taxpayer confirming acceptance of federal tax return with 24 hours, usually
  3. IRS begins processing tax return…this can take 10 days or less or can take 10 days or more
  4. IRS issues tax refund immediately after processing tax return
  5. your bank can take 2-4 business days to make your direct deposit refund available to you

As you can see, step 3 of the IRS Direct Deposit Schedule for 2014 is open-ended and vague.  That’s intentional because the IRS doesn’t even know how long it will take to process your tax return!  They used to have a pretty good idea of the time frame, which is why there used to be something called an IRS Refund Cycle Chart.  It was quite useful in predicting how long it would take from submitting your tax return before you got your IRS refund.  But no longer.

Now, it totally depends on what’s on the tax  return.  If the IRS finds something that doesn’t add up, doesn’t measure up, doesn’t match up (you get the picture) then they have to run it through a whole new set of checks before it can move on to the next step and eventually to where your direct deposit can be issued.

So, What Does the IRS Direct Deposit Schedule 2014 Look Like?

You should leave yourself 21 days from e-filing acceptance date to the date your refund gets direct deposited.  Then, tack on a few more days for your bank to release the funds to you.  We’re talking upwards of a month now.   Of course some people get their direct deposit on a much faster schedule.  Likewise, some taxpayers wait much longer than a month.

The moral of the story is, you can’t depend on the money from your tax refund because you just don’t know when it will become available to you.

 

 

 

What You Need to Know About the IRS Tax Refund Schedule in 2014

2014-02-25 Admin

It’s that time of year again- February, and that means more than Valentine’s Day and Spring Break.  For early e-filers, it’s IRS refund time.  For those who want the fastest refund possible, e-filing as early as the IRS starts accepting returns is essential.  For tax year 2013, this meant submitting tax returns on January 31. 2014.  Right about now they can start expecting their refunds if they haven’t received them already.  Yes, February 2014 means the start of the IRS Tax Refund Schedule 2014.

About the IRS Tax Refund Schedule 2014…

Well if you’ve been around the past couple of years let’s say since 2012, you may have learned already that there is no longer an IRS Tax Refund Schedule.  Yes there used to be one…before enhanced security measures made their way into the IRS processes and, like airport security after 9/11, everything has changed.

Now, the IRS cannot promise anything like a tax refund schedule because each tax return is treated differently based on its contents.  If something seems fishy, they’ll examine it more thoroughly.  Meanwhile, other tax returns will sail through the process and their refunds will go out immediately.

The IRS is like TSA…

Just like at the airport..sometimes you sail through security and sometimes you get flagged for more searching.  It’s impossible for most people to predict and therefore you can’t ever assume you’ll make your flight unless you plan enough time to get through security.

Well same here: you can’t plan out when exactly you’ll get your tax refund because you never know if it will get delayed for scrutiny.  Therefore, if you’re looking for an IRS Tax Refund Schedule in 2014, you’re barking up the wrong tree.

The only way to find out about your IRS Tax Refund in 2014 is to go to the IRS website and use their Refund Tracker.  It’s a secure login so only you can have access to this information.

 

Top 5 Questions Answered: IRS Refund Dates 2014

2014-02-25 Admin
  1. Where can I find out IRS Refund Dates for 2014?

The way to find out when your IRS refund will be sent is to ask the IRS.  Their new Refund Tracker does the job in just a few minutes and takes all the guesswork out of wondering when your IRS Refund Date will occur.

2.  How Do I Use the IRS Refund Tracker to find out my Refund Date?

Go to www.irs.gov and click on Where’s My Refund?  From there you will be directed to log in using some personal information.  Only the IRS has the IRS Refund Dates for 2014, so only they can tell you when you’ll get your money.  Calling the refund hotline will only result in the same information.  It’s just an automated version of the online tracker.  You will simply key in the same information that you would on the tracker that’s on the website.

3.  What info do I need to log in?

You’ll need your social security number, the filing status you used when you filed your income tax return, and some figures from your actual tax return.  You should gather this information before attempting to log into the IRS website.

4.  Is the IRS Refund Tracker safe?  I really want to find out my IRS Refund Date for 2014 but I’m worried about online security.

Yes, the IRS website is secure.  You must, however, make sure you are really on the IRS website.  It will say “.gov“, not “.com” or “.org” or anything else in the address bar of your browser.

5.  What will I see when I use the IRS Refund Tracker?

You’ll see the status of your tax return…whether it’s been accepted yet, it’s in progress, or your refund has been issued.  Unfortunately, if something ties up your return, the tracker will just say it’s in progress”  but nothing more.  If there is a problem and the IRS requires something from you, they will send you a letter in the mail…snail mail.

If You’re Looking For the IRS Refund Cycle Chart in 2014, You Can Stop Now

2014-02-24 Admin

If you’re wondering where your IRS refund is in 2014, have you checked the IRS Refund Tracker yet?  It’s an online service provided by the IRS, allowing taxpayers to log in and track their tax return from start to finish.  It’s so easy, it gives immediate answers, and it’s safe, secure and free.

So…why would you need anything else?  Those taxpayers who are still searching out the IRS Refund Cycle Chart in 2014 surely haven’t heard about the Refund Tracker.  Refund Cycle Charts only give a vague idea of when you can expect your IRS refund, but it says nothing about your tax return.  There are many exceptions to the rule of how fast refunds are issued these days.  No chart is going to give anyone answers anymore.

What changed all this?  Identity thieves, that’s what.  You see, it was a pretty lucrative scam for a while there to steal someone’s identity, file a fraudulent tax return, and have the refund sent to their home.  It’s all about getting someone else’s IRS refund. Therefore, the IRS had to get wise and start checking tax returns a little more carefully.

It’s the new ways of checking for fraud that have changed everything.  The IRS has a series of red flag alerts and if they see even just one on your tax return they’ll pull your return from the “assembly line”,  much like a bad item on the conveyor belt at a factory.  Quality control will come along and pull the teapot with no spout, the doll with no arms, or whatever.  The IRS is performing stricter quality control, so to speak.

If your tax return is pulled for further checking to make sure it’s not fraudulent, the whole notion of the IRS Refund Cycle Chart in 2014 has gone out the window.  More returns get pulled now, which means it’s anybody’s guess how long it will take before they get their refunds.  Sometimes it will only delay by one day, others well the IRS just doesn’t give out this information.

So keep in mind this year, even if you do find a published IRS Refund Cycle Chart 2014, take it with a grain of salt.

It’s January 2014: Where is My Refund?

2014-01-08 Admin

Are you already asking where your refund is for 2014?  You do realize it’s a bit early don’t you?  The IRS has just announced that they’ll begin accepting e-filed tax returns on January 31, 2014.  That means you won’t be seeing an IRS refund until at least a couple of weeks after that…in other words, the earliest IRS refunds will be sent out in February 2014.

Even after you’ve e-filed your tax return, searching on 2014 Where is My Refund? will result in nothing but wasted time.  The IRS says you must wait 24 hours after you have received notification that they received your e-filed tax return.  Only then can you start looking up the status of your 2014 refund.

2014: Where is My Refund?

There’s only one way to get your 2014 Refund status.  That’s through the IRS.  The best way is to visit their 2014 Where is My Refund? page.  If you don’t have a computer then there is an IRS Refund Hotline you can call.  But don’t think you’re going to get any additional information just because you’re calling rather than logging in.  You’ll only get exactly what you would have got by going online and checking your refund status that way.

The IRS really tries to begin accepting e-filed tax returns sooner than January but each year something seems to get in the way of that.  For 2014, it was the government shutdown, or furloughs that occurred in 2013.  No work got done during the various furloughs that took place throughout the year, so everything got pushed back by about ten days.  The original acceptance date for 2014 tax returns was going to be January 21, 2014.

However, once February has hit and you’ve submitted your federal income tax return, you may begin looking for your refund.  Keep in mind that the IRS is the only place to get that information!  And nobody’s tax return is processed more quickly just because they may have filed through a commercial tax preparation company.  The IRS views all e-files equally, no matter where they came from: your own personal computer or the desktop computer of an H&R Block employee!  Don’t fall for false promises that say someone can get your refund faster…all e-files are created equal in the eyes of the IRS.