1. Home
  2. Taxes General Forum
  3. My ret. no longer processing but get this

My ret. no longer processing but get this

OK, I've been venting here. filed/received on 2/22 and processing ever since. I checked Friday and it was still processing. Got bored so checked Monday. No longer processing. Amazed that something happened over the Holiday weekend. But here's the rub. I checked further and the hold-up was the Economic Impact Payment Credit. So, let's say my 1st pmt was $200 and 2nd pmt was $700. Their correction: 1st pmt $200 and 2nd pmt $200 resulting in an increased refund. They stalled me for 3 1/2 months and they don't know it but they screwed up. My refund is scheduled for next week. I don't plan to even try to correct them and create probably a year delay!

Thoughts?

Mel

Reply to
MZB
Loading thread data ...

As long as we're venting... here's my suspicion on why I think my refund is delayed. I'm on Obamacare and about five months into the year I decided to stop taking an advance premium tax credit. (While it's ceding the time value of money to IRS, what IS that value at current interest rates?) When I got my form 8935 or whatever it is, it showed the reference plan (second lowest-cost silver plan) price for the 5 months I got an APTC but zero for the rest of the year. I called the people who issued the form and they assured me it wouldn't be a problem But if you take the figures literally from 8935, my refund would be about $8000 lower. So what's probably holding me up is one branch of the government saying one thing, and another branch saying something else.

As I said though, time value of money is zilch, so I'm not losing sleep over it.

Reply to
Roger Fitzsimmons

My understanding is assorted credits is the cause of many of these delays. I just got my refund, about $1K higher than whAT I filed for. It took from 2/22 until 6/4 to get it///AND THEY ACTUALLY SCREWED THAT UP. I wonder if they will later on catch their error?

Mel

Reply to
MZB

How do you check something like this?

Reply to
Toller

I got my refund on July 14. They added $8 worth of interest on a $1168 refund.

Reply to
Roger Fitzsimmons

And you'll probably get a 1099-INT for that next year.

Reply to
Tom Russ

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.