www.taxprofessionals.com - TaxProfessionals.com
Posted by Tiffany Gaskin

What to do if You Haven't Received your Tax Returns

What to do if You Haven't Received your Tax Returns

The Internal Revenue Service has passed the information on returning millions of taxes from 2021. Meanwhile, taxpayers are frustrated because of the lengthy process but are still patient because, after 45 days of delayed refund, the amount accumulates interest paid by the IRS. Another good news: the interest attracted an increase of interest from 4% to 5%, which started in July. 

The agency is facing many problems in making the big dream come through, such as a few numbers of staff, scrutinizing previous years' accounts, and getting used to tax amendments made during the pandemic. The paper check process is done by hand, making it difficult to cross-check each paper check delaying the process. However, before implementing the skill this year, the office informed the public of this delay. The fog will clear before the year ends, as assured by the IRS Commissioner. 

Here are a couple of things to do if you are yet to get your tax return:

Did you file your tax before the deadline and still haven't gotten a reply? 

This situation can be affected by many extremities. One can be an error made during the manual filing process or an uncommon statement. However, the IRS will add interest after the deadline regardless of what caused the delay. The 45 days ultimatum starts when your tax return is due or the form reaches the IRS filing system. Nevertheless, the electronic filing system began in April, but if you went with the hand process, the countdown began when the IRS accepted your return. 

The interest paid by the IRS may be tempting, but it's taxable under the same rules as interest placed in a check or savings account. The IRS interest is a 3 percent point and is considered a federal short-term interest. However, the 0.75% initiated by the Federal Reserve in June boosted the interest rate for the rest of the months. However, taxpayers still hold on to the increased 1%, which started in July.

Is the process lengthy?

The tax refund process generally takes three weeks but can get longer for some taxpayers, especially those with errors. The problem can be resolved based on your response and IRS response time, the accuracy and number of IRS workers, and the Covid-19 rules, which are available on the IRS web page. 

Another factor is the method used in filing your tax return. For instance, if you are receiving your refund through your account as a deposit, the bank will need five days to clear the money and release it to your account. 

In summary, the system will take 21 days for the IRS to make the transfer and five days for the bank to go through the check, so it could take 26 days before getting your refund. Individuals that file their taxes by mail will face a longer process.

Factors that delay tax refunds

Here are other reasons that delay tax refunds. 

  • Errors on or incomplete filing

  • Suspected fraud or theft actions

  • A Tax refund kept aside for further review

  • The stimulus payment does not correspond with the refund.

  • Your return has errors or is incomplete.

A review by the IRS Commissioner pointed out that over 10 million US citizens forgot to match the rebate credit with the stimulus payment during filing. This problem can only be solved by manual review or resolution, which is a daunting process. 

If the process is delayed by tax corrections to clarify the tax refunds, extra buck on the child tax credit, or earned income tax, you'll receive a message from the IRS for such delays. The Internal Revenue Service will write to you if they encounter a problem that requires your attention. The paper tax takes about six or more weeks to finalize the process by the IRS.  



Tiffany Gaskin
Contact Member