I have bad news.....
The IRS is not producing a 2013 IRS e-file refund cycle chart for tax preparers. The commonly used chart has been discontinued and Publication 2043 has been dramatically revised due to IRS uncertainty about issuing refunds.
Badder news....
The IRS states “In a change from previous filing seasons, taxpayers won’t get an estimated refund date right away.”
Even badder news....
The IRS states that “most taxpayers will have their refunds within 23 days”, a significant delay from recent years.
Tax preparers are going to catch "hell" for their clients. I already know some of my clients will call me everyday until they get their refund. I love the refund schedule because it calmed their nerves. Now, I need to study crisis management techniques to deal with the calls. Okay, maybe it is not that extreme. I can't stress over something I have no control over.
Good news....
The delay in issuing refunds is due to a new processing method with an emphasis on fraud. The IRS’s new processing method includes multiple fraud checks based on the information in your tax return. Tax returns will be analyzed for what the IRS calls “Incoming transactions” and placed in a different category for funding. This may prevent the increase in fraud. I had to deal with numerous clients that were victims of tax return fraud. If it takes a longer refund period to prevent fraud, then so be it.
The best news.....
Receiving a refund is good enough news for me. Just exercise some patience. Vegas will always be around waiting for your arrival.
The Tax Factor was created to educate individuals and small-business owners about taxes. Let’s face it, nothing in life is guaranteed except death and taxes. Okay, maybe that sounded pretty depressing but the goal of this blog is to help you find the information to learn how to make taxes work for you. Taxes can be extremely complicated but knowing about deductions and credits can save you thousands of dollars per year.
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