If you’re like most people, you’re eagerly awaiting your tax refund. But if you’ve been waiting a little longer than usual, you may be wondering why your refund is delayed. Don’t worry – we’re here to help! In this blog post, we’ll explain why your refund may be late, and we’ll give you some tips on what to do about it.
1. What is a delayed tax refund and why might it happen to you this year?
A delayed tax refund is simply a refund that arrives later than expected. There are several reasons why your refund may be late this year, but the most common one is because of changes to the tax code. The new tax law, which was passed in December 2017, made several changes to the tax code, and it’s taking the Internal Revenue Service a little longer to process returns.
The change in the tax law is that the filing deadline for your 2017 taxes has been moved up from April 15 to February 17. This means that the IRS has less time to process returns, and that may be why some people are experiencing delays this year.
Another reason for delayed refunds is incorrect or incomplete information on your return. If the IRS has to contact you for additional information, that can delay your refund. And finally, if you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), your refund may be delayed because of new fraud prevention measures.
2. How do you know if your refund has been delayed and what should you do about it?
If you are in the US, the best way to find out if your refund has been delayed is to check the IRS website. The IRS will post a notice on their website telling you why your refund is late and how long you can expect to wait.
If you think your refund may be delayed, there are a few things you can do:
– File an extension: If you can’t wait for your refund, you can file an extension and get an automatic six-month extension to file your return.
– Use the IRS’ online tool: The IRS has a tool called “Where’s My Refund?” that will help you track the status of your refund.
– Contact the IRS: If you have any questions or need additional information, you can contact the IRS.
3. What are your options if you’re unhappy with the delay or have other questions about your taxes?
If you’re unsatisfied with the delay in your refund, you can file a complaint with the IRS. The IRS has procedures and policies in place to address complaints from taxpayers.
You can also contact a tax professional if you have any questions about taxes or need help filing your return. A tax professional will be able to answer all of your questions and give you the help you need.
Some popular tax advisors are TurboTax and H&R Block. They both offer free tax filing services and have an online tool that allows you to file your return for free. H&R Block has a website where you can find tax professionals in your area.
4. How can you prepare for next year’s tax season so that you don’t experience another delayed refund?
One way to avoid a delayed refund next year is to file your taxes as soon as possible. The IRS begins accepting returns in January, and the sooner you file, the sooner your return will be processed.
Filing early also gives you more time to make any changes or corrections that need to be made, which can help prevent delays.
Another way is to file electronically instead of by mail. Electronic filing is faster than mailing your return because it’s easier for the IRS to process electronically filed returns and get them out sooner.
Finally, make sure you have all the necessary documents before you file. This includes your forms, social security number, and other information that is requested on your return. Having everything ready will help speed up the filing process and avoid any delays.
5. Final thoughts on dealing with a delayed tax refund
A delayed tax refund is never a fun experience, but you should take comfort in knowing that the IRS will eventually get your money to you. In the meantime, there are steps you can take to make sure everything goes smoothly next year and avoid another delay. And if all else fails, contact a tax professional who can help guide you through the process.
The delayed tax refund is definitely a frustrating issue for taxpayers this year. However, there are things that you can do to prepare in advance and make the process smoother. Stay tuned for more updates and tips from our team here at the blog! In the meantime, if you have any specific questions about your own taxes, be sure to reach out to a qualified professional.
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