Posted on 02/17/2005 11:05:17 AM PST by Salgak
This morning, I checked my bank account online, to see exactly what my pay was this week (I'm hourly, so it varies), and to my very pleasant surprise, my refund from the Commonwealth of Virginia's Department of Taxation was there as well. . .3 days after they accepted my electronically-filed return.
So I **THEN** hit the IRS Website, link above, to check status on my Federal Refund. And got an interesting response: it told me to CALL the IRS, give a specific extension, and reference a certain code-number. I did so.
The IRS person who eventually answered (~5 minutes on hold) told me, after verifying who I was, etc., that the Internal Revenue Service is re-checking EVERY Federal Tax Return with a refund of over $2500.00 with their "error-check" department, and because of this (it was in and out in a day. . .), my refund is delayed a full week, until sometime in early March. . .
Don't mean to be paranoid. . .but doesn't it seem odd, that EVERY return over a certain thresh-hold is checked ? And especially now, early in the season, when the electronic filers do it: their software has ALREADY checked it for math errors, etc. . .
Or is this just a means for Uncle to hang on to our refunds just a little bit longer??? After all, the longer they have the funds, the more they can do with them. . . Or make just a little more money interest off of it. . Comments, observations, etc ???
I had one of these computer checks last year that caught a difference between what I reported on my return and one of the 1099's that was in my return. Turns out I had an explanation, but that didn't stop the computer from reporting my return as "faulty".
What's a refund? Never get one -- always have to pay more, more, more........................
Ping.
Guess I better give a bump and check this out.
Yes, it is a red flag.
The idea is not to use the IRS as a piggy bank. They don't pay interest.
Last year there was some tax refunds for tax reductions, but this year, a 2500.00 refund is a matter you will need to explain via paperwork and proper math. Most error are mathematical booboos.
If filed electronically, there is a new gizmo called a *computer* that can filter the bottom line.
Since all the IRS rules are so arbitrary, contradictory and arcane, it's their primary means of ensuring compliance.
I owe, I owe, I owe,
I owe, I owe, No pay,
So off to work I go,
day after day after day.
Ugh. I just checked the IRS and found our return is scheduled to be deposited tomorrow or at least sometime before the 25th. And it's quite a bit more than 2K.
It's gonna take me all afternoon to calm down now. LOL
Employers haven't sent in the federal copy of W-2s yet ... not due until the end of February. Well, some may have done it already but they're not required to.
The average refund is $2200 heard on radio yesterday. They are then checking anything more than one sigma to the high side.
I'll bet the IRS drone MEANT to say $25,000.00. That would make a lot more sense. $2500 is way under the radar.
I doubt it. The Army has about a quarter million civilian employees.
The IRS had 99,055 people in FY04, and budgeted 101,272 for FY05.
In my best Jim Mora voice: "REFUNDS?" You're talking about REFUNDS?!"
A little trick to avoid being audited. File in April. They only will audit so many returns that fit certain catagories. If the catagory you are in is full you slip by.
rules me out,too. I doubt the rep was correct. Call another one and you'll get a different answer.
Been there,done that.
good grief hubby and I are getting back 2657. and our taxes are fairly simple,W2, medical,milage,tithe,simple IRA, and mortage interest. its pretty cut and dried.
why would they be checking on anything over 2000 its not a whole lot of dough? and I have a tax preparer do our taxes wouldnt they have said something to me? all she said was this is the date the money will be in your account pay please.
Our refund was over $2,500.00. We already got it, and spent it. We're getting a new roof.
What great news! This must mean that if you owe THEM money, they have to double check that, too!
Claim eight or nine deductions on you w2 so you don't loan so much money to the government all year and you won't have this problem... 8^>
'Course, you should only do that if you are sure you won't get caught under reporting by too much. There seems to be a threshold on both ends...
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