Common myths about tax refunds, IRS shares helpful information

Deutschland Nachrichten Nachrichten

Common myths about tax refunds, IRS shares helpful information
Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen
  • 📰 fox7austin
  • ⏱ Reading Time:
  • 73 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 33%
  • Publisher: 51%

A number of these myths circulate on social media every tax season. The IRS wants to dispel some common myths about getting refund details or speeding up tax refunds.

A number of these myths circulate on social media every tax season, according to the IRS.Myth 1: Calling the IRS or visiting an IRS office speeds up a refund

Many taxpayers mistakenly believe the commonly held myth that speaking with the IRS by phone or visiting in-person at an IRS Taxpayer Assistance Center will expedite their tax refund. The best way to check the status of a refund is online through the "Where’s My Refund?" tool at IRS.gov or via the IRS2Go mobile app. Alternatively, those without internet access can reach "Where’s My Refund?" by calling the automated refund hotline at 800-829-1954.

Myth 2: Taxpayers need to wait for their 2020 return to be processed before filing their 2021 return, or that all refunds are delayed due to the number of 2020 returns the IRS still needs to process. The reality is that taxpayers generally will not need to wait for their 2020 return to be fully processed to file their 2021 tax returns. They should file when they’re ready. People with unprocessed 2020 tax returns, should enter $0 for last year's AGI on their 2021 tax return when electronically filing.Ordering a tax transcript will not inform taxpayers of the timing of their tax refund, nor will it speed up a refund being processed.

"Where’s My Refund?" can be used to check the status of a tax return within 24 hours after a taxpayer receives their e-file acceptance notification. The "Where’s My Refund?" tool is updated only once every 24 hours, usually overnight, so there’s no need to check the status more than once a day.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

fox7austin /  🏆 594. in US

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Americans say they're waiting on 2020 tax refunds from IRS as 2021 taxes are dueInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Weiterlesen »

Delays and empty desks cost IRS billions in interest and overtimeDelays and empty desks cost IRS billions in interest and overtimeWith a week to go for taxpayers to file their 2021 returns before facing fines and penalties, it appears that it will be the IRS that will have to cough up billions for delays.
Weiterlesen »

3 Crypto Tax Tips to Avoid IRS Trouble3 Crypto Tax Tips to Avoid IRS TroubleCrypto investors filing their taxes must know how to track cost basis, maintain good records of all original purchases and transactions, and report everything in USD terms. MilesBrooksTax writes
Weiterlesen »

Americans say they're waiting on 2020 tax refunds from IRS as 2021 taxes are dueInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Weiterlesen »

Hoosiers can expect additional tax refund this summerHoosiers can expect additional tax refund this summerMost Hoosiers will be getting an additional tax return this summer of $125. How do you plan to spend your extra money?
Weiterlesen »

Whales don’t spray water from their blowholes and other myths, debunkedWhales don’t spray water from their blowholes and other myths, debunkedWe’re dispelling the most common misconceptions about these marine mammals—which is essential to keeping them safe and healthy.
Weiterlesen »



Render Time: 2025-03-01 06:39:40