Your Tax Refund May be Delayed

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Believe it or not millions of taxpayers who fled their tax returns early might not receive their refunds early. This is due to a tax law passed recently that extends tax breaks that were due to expire. The IRS is now frantically trying to accommodate this by reprogramming its computers. This process could take till late February. According to IRS spokesman Dan Boone, the agency is aiming to complete this work by mid-February.

It is estimated that at least 9 million taxpayers nationwide who fled their returns early and typically itemize deductions will have to wait until the system is ready before they can claim their refunds. On the other hand, more than two-thirds of the 140 million taxpayers nationwide will not be affected by the delay because of one of two reasons. First, they might take the standard IRS deduction or secondly, they fled their tax returns later in the season.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

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