Will there be a delay in tax refunds for 2015?
Yes more than likely will be some delay in the REFUND for the 2015 tax filing season since they are being slow at taking care of their tax writing before the end of this 2014 tax year for that purpose and time. Hope that you find the above enclosed information useful. 10/08/2014
Tax refund delayed due to owed taxes?
They will definitely deduct what you owe from the refund, and then they will deposit the remaining amount of money into your account. If the website said 2/27, it will probably update to 2/23 for a deposit date (about 2 days before on a Wed) so check back next Wed for an update. They only do deposits on Fridays, according to this IRS efile chart--- http://www.irs.gov/pub/irs-pdf/p2043.pdf So, you can pretty much expect your refund by 2/23 unless they post again and say that they have found errors or need to review your return---then you will get an error code and it will take longer.
Is owing back taxes going to delay my refund?
The simple answer is yes, but there are a lot of different factors. As one of the other answers stated, it would depend on if you have a payment plan set up, what kind of back taxes you owe (i.e. income, self-employment, excise, franchise, civil penalty, etc.), and where you are in the collection process. Have they sent collection notices or notice of intent to levy assets? It is very possible that they will apply all or part of your refund to what you owe. If you would like to find out you can call the IRS at 1-800-829-1040. FYI - This is the definition for the reference code. It could just be delayed as this is a generic code. 1201 All other conditions not covered by a status code conduct account analysis
Tax Refund Delay due to delayed processing?
Happens to lots of folks. There are literally thousands of reasons that the processing of your return could be delayed and without looking at a copy of the return as filed it would be impossible to speculate as to what it might be. If the IRS has any questions they will be in touch by mail in a few weeks and will tell you what they need to get your return back into the processing queue. Calling the IRS to see what the status is would be a waste of time until they have had it for at least 30 to 45 days.
Is something causing the income tax refunds to be delayed?
I filed my taxes through turbo tax on January 23rd . The same day it was accepted, I was shocked because I thought it was just accepted on Monday-Friday. Well, I go to the IRS website to check my refund status and it says that I should receive my refund on February 8. I am confused because on the IRS refund schedule, it says that if refund is accepted by January 27th at 11:00 am, refunds would be issued through direct deposit on February 4th. Why the delay? I did opt for direct deposit by the way.Has this happened to anyone?
What is going on with the new york state tax refunds.?
In past years, NY state has often delayed paying tax refunds when cash was tight. This is nothing new. NY state will never admit it, but the consensus is that this is related to the end of the state's fiscal year. The NY state income tax refund flow tends to drop to a trickle in February and March, and then go back to normal after the new fiscal year starts on April 1. The larger your refund, the more likely they will delay payment. I hope it's different this year. I'm waiting for mine, too. Good luck! BTW, the best solution is to reduce your withholding or estimated tax payments next year so that you owe NY state a small amount in April, rather than making them an interest-free loan throughout the year.
I owe back taxes. Will my federal refund be delayed?
I owed the IRS about $2600 and entered into an installment plan last year. The balance is now about $1800, and I have been making my payments regularly. I am about to file my taxes for this year, and, from what I've done thus far, I will be getting a refund amount of about $8000. My question is: will my tax refund be delayed to take out the remaining balance on my installment plan? If so, about how much longer will it take w/ direct deposit? Also, I called the tax offset number this morning to doublecheck what was owed, but for whatever reason, neither myself or my husband (we filed jointly w/ him as the primary) are showing up on the "Offset List". So, will the balance, indeed, be deducted after all or have we somehow managed to be "skipped" on the Offset List? My federal return was just accepted by the IRS the other day.
Why are income tax refunds not yet received for 2017-18 in India?
Firstly after you file your return within six months it should be processed electronically in Bangalore CPC centre. The system itself will find basic corrections and other arithmetical error and remind to assessee .Refund cannot be straightaway processed and cleared . income tax department has a way of criss checking your filed return by way of assessment . only after checking the return of income filed they can be processed for return .For making these steps quicker only we are mandated to specify our bank details and IFSC code so that the system processing returns will quickly send the refund to our account after assessment and checking of relevant officer of income tax.Now the reason of delay is crores and crores of returns are being filed firstly they must segregate is as individual,huf,companies .In that also each individual will have many compliance requirements like income from salary,house property,business and other sources and capital gains etc .The computer should again segregate and check whether the details provided are correct and its in alignment with income tax act and tax calculations ..Income tax department for personal scrutiny will have different criteria for assessments like individuals who declare income of more than 1 crore will be asked for personal scrutiny by assessing officer whereas individual below one lakh rupees will be assessed electronically and order will be generated quickly.You must know if there's is any slight glitch in this system then it means loss of crores and crores of revenue to govt as all the people are closely following for various glitches in act so that they could legally escape tax.So income tax department must be double sure before they gibe you refund amount ..so these are possible reasons for delay in refund ..Lastly it may simply be due to human error or negliance also ;)Hope this clarified your query