Search
Close this search box.

Login

Recent Tax Updates

Processing Delays for Certain Federal Returns this Filing Season

During this filing season there will be a delay in processing returns in the following circumstances:

  • The taxpayer uses their 2019 earned income to calculate their 2020 EITC and/or additional child tax credit. The reason for the delay is that the IRS must verify that the amount of 2019 earned income that is reported on the 2020 return matches what was reported on their 2019 return.
  • Claim the Recovery Rebate Credit on their 2020 federal return.The reason for the delay in processing is that the IRS must look at their records to see that the amount of the economic impact payments that were sent to the taxpayer match the amount of credit reported on the 2020 return.

The length of the delay will depend on how many returns are going through this process at any one time.

Therefore, for these returns the refund will be delayed for some length of time depending on how long the matching process takes.

Mark Castro, CPA

Mark Castro, CPA

Mark has been with CrossLink Professional Tax Solutions (CPTS) since 2008, but has been in the tax industry since 1990. As the government/tax industry liaison for CPTS, Mark has been very active in working with the IRS, States, and other tax industry members to help improve communications, promote standardization, and simplification of eFile systems. Mark has also been active with industry associations as a board member of the National Association of Computerized Processors (NACTP) and the Council of Electronic Revenue Communication Advancement (CERCA) for many years. These two associations work with the IRS and States to help solve key eFile and electronic tax system issues and work to improve the operations of the State and IRS eFile systems.
Facebook
Twitter
LinkedIn
Email
Print

Recent Tax Updates

2024 IRS Dirty Dozen Tax Scams

The IRS has released its annual Dirty Dozen list of tax scams for 2024. This list serves as a warning to taxpayers and tax preparers about various schemes, abusive tax transactions, and tax avoidance strategies. It aims to raise awareness and prevent individuals from falling victim to fraudulent practices. Below are some of the most relevant scams highlighted by the IRS this year:

Read More »
individual income tax return blank with dollar

2024 Federal Filing Deadline and Extensions for Tax Year 2023

This guide simplifies the federal filing deadlines for 2023, including extensions for disaster-affected areas, IRA contributions, and health savings account contributions. Whether you’re filing for yourself or advising clients, this article provides a clear roadmap for meeting tax obligations in 2024.

Read More »

Safeguarding Tax Professionals: Watch Out for Tax Season Scams

In today’s digital era, tax professionals are prime targets for cybercriminals. With sophisticated schemes lurking around every corner, it’s crucial for tax experts to stay alert and informed about the latest threats in their field.
Read now to learn about three prevalent scams that tax professionals should be wary of.

Read More »

About Cookies on this Site

We use cookies to personalize and enhance your experience on our site, as well as to serve you with relevant advertising. For full details, including other ways to set your cookie options, read our cookie policy. For more information about our data collection practices, please visit our privacy policy. By clicking Accept All Cookies, it ensures that all features of the website will operate normally.