2/29/2024 0 Comments Turbotax refund delay 2022![]() ![]() If you have questions of a specific nature consider consulting a financial professional, accountant or attorney to discuss. The content offered on The Military Wallet is for general informational purposes only and may not be relevant to any consumer’s specific situation, this content should not be construed as legal or financial advice. of Veterans Affairs, please visit their website at va.gov. If you have questions about Veteran programs offered through or by the Dept. The content on The Military Wallet is produced by Three Creeks Media, its partners, affiliates and contractors, any opinions or statements on The Military Wallet should not be attributed to the Dept. Departments of Defense or Veterans Affairs. Neither The Military Wallet nor Three Creeks Media are associated with or endorsed by the U.S. The Military Wallet is a property of Three Creeks Media. ![]() Such incidents cost the government hundreds of millions of dollars each year, sometimes tying up tax refunds for months while the IRS investigates the fraud (yet another reason why identity theft protection is a good idea). ![]() The IRS’s new safeguards help screen electronic returns better and combat identity theft fraud and other scams. The IRS plans to issue 9 out of 10 returns within 21 days, but some returns could take longer. Additional Causes for Tax Refund DelaysĪdditional delays may apply to filers with incomplete tax returns, tax returns with errors, or returns that require additional reviews. These delays can also apply to taxpayers if their return has been flagged for potential fraud or for further review. Returns claiming the EITC or ACTC filed after this date may not be delayed.Īdditional delays may apply to certain taxpayers who have previously been victims of identity theft or tax fraud. Keep in mind it can take another week or so to receive the funds after being released by the IRS. Many returns that include the EITC or ACTC take slightly longer to process than returns without those. However, that date represents the earliest possible date, not the expected date. Part of this law includes a section that requires the IRS to withhold tax refunds for taxpayers who file a tax return claiming either the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC).īy law, the IRS must withhold these returns until at least Feb. There are several factors that can cause a delay in your tax return: Claiming Earned Income Tax Credit or Additional Child Tax CreditĪ 2015 tax law called the Protecting Americans from Tax Hikes (PATH) Act created built-in certain rules to help protect against tax fraud and identity theft. » MORE: Your Path to Homeownership Begins with a VA Loan The IRS anticipates delays could continue during the 2022 tax season. It also had ” 2.3 million unprocessed amended individual returns (Forms 1040-X), more than 2 million unprocessed employer’s quarterly tax returns (Forms 941 and 941-X), and about 5 million pieces of taxpayer correspondence – with some of these submissions dating back at least to April.”Ĭollins said many taxpayers are still waiting for their refunds nine months later. “As of late December, the IRS had backlogs of 6 million unprocessed original individual returns (Forms 1040),” National Taxpayer Advocate Erin M. In fact, the IRS is still processing last year’s returns, according to the Treasury Department. In 2021, taxpayers who submitted their tax returns early had to wait a little longer than anticipated to receive their tax refund. Here’s what to expect when filing your 2021 taxes in 2022. (spoiler: more delays, probably). After two delayed tax seasons, you might be wondering what the tax refund timeline for 2022 holds.
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