There are a lot of nervous people on social media because they’re not getting their income tax refunds as fast as they thought they would. Tax expert Chris Crockett of Noble Enterprises tells the Factor there are several factors that play a role in that possibility. Crockett says the IRS usually tells the taxpayer they should received a refund in 21 days.
He says if you don’t get a response then the federal agency will reach out for additional information. Crockett also says there is a new identity theft prevention component the IRS is using to stop fraud and it also could extend your wait for a refund. However, Crocket says as of yet none of his Houston based clients have gone passed the 21 day window. He says you just have to be patient.
Crockett Posted This Message To His Client:
Tax Refund Info:
FYI, the IRS releases refunds in 10 – 21 days after the return is submitted (in most cases).. They do not give a release date until they are finished with processing.. DO NOT look at refund cycle charts online to try to determine when you will get your refund.
How to contact Chris Crockett:
2500 E TC Jester , Suite 212
The Latest News from the IRS:
The IRS stopped accepting electronically filed tax returns Wednesday because of problems with some of its computer systems. The outage could affect refunds, but the agency said it doesn’t anticipate “major disruptions.”
A “hardware failure” forced the shutdown of several tax processing systems, including the e-file system, the IRS said in a statement. The IRS.gov website remains available, but “where’s my refund” and other services are not working.
Some systems will be out of service at least until Thursday, the agency said. “The IRS is currently in the process of making repairs and working to restore normal operations as soon as possible,” the IRS said.
Taxpayers can continue to send electronic returns to companies that serve as middlemen between taxpayers and the IRS. But those companies have to hold on to the tax returns until the IRS systems are up and running again, the IRS said.
While the IRS said it is still assessing the scope of the outage, it expects 90 percent of taxpayers will receive refunds within three weeks.
People who have already filed returns don’t need to do anything more, the IRS said.