Sunday, February 12, 2012

Abolish #TSA - Use Funds To Pay Tax Payers Their Money

This year the I.R.S. is rife with problems. Due to problems with the "Wheres My Refund" system, and alleged problems resulting from a switch of software used for detecting fraudulent claims has led to many tax payers left in the dark about the status of their non-interest bearing funds.

The U.S. Government has plenty of funds for the T.S.A. which had a budget of about $53 million. Perhaps they should take the funds from that agency and move it over to another three letter agency, the I.R.S. That way they could fix their systems which are causing mass delays in the processing, and information regarding returns, for tax payers expecting refunds from the government on funds which are not paying interest in the extra delayed time.

Akfter weeks of the run around from various agents at the I.R.S. and representatives from various tax filing software companies such as Turbo Tax there has been some recent developments in the forms of statements that have she some light on the issue.

 Update: We are aware that some taxpayers who have filed electronically and received an acknowledgement from the IRS are concerned when they visit "Where's My Refund" and are told that we have no information regarding their return. This is a temporary situation, and we expect to resolve the matter in a few days. At that time, taxpayers will be able to get an expected refund date when they visit "Where's My Refund." If a taxpayer received an acknowledgment message that their e-filed tax return has been received, they can be assured that the IRS has the tax return even though "Where's My Refund" does not reflect that. Taxpayers should not call the IRS unless specifically directed by "Where's My Refund," as there is no new information to give them.< We expect the vast majority of tax refunds to continue to be issued within the historical range of 10 to 21 days. The IRS is taking steps to update information so that Where's My Refund has current information. The IRS apologizes for any inconvenience and will provide updated information as soon as possible.

It has been reported, from independent sources via Intunit Turbo Tax blog, that there was a backlog of returns from January 1st up until near January 26th got lumped together. Returns are now following a scheldule that is either matched up to this schedule, or ahead in some cases. Depending on how you elected to get your refund you may have to wait a day for it to be deposited, although from my understanding those who got the Turbo Tax card should get it on the 15th, since the I.R.S. will send a batch on the 15th, and the money is placed on the cards as it is received throughout the day. 

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