IRS delaying processing tax returns ?

[cj's dad]

I have now heard from 2 different friends that their accountants told them that the IRS will not begin processing tax returns until 2/15.

Does anyone know if this is correct ?

I tried Snopes and got no reply.

[illinoisbred]

I was told if you show itemized deductions, your return won't be reviewed/processed until after the 16th of Feb..

[cj's dad]

Thanks for the reply.

Looks like an excuse from a broke ($$$) gov't to delay sending out refunds.

Probably takes a few weeks to get those printing presses fired up,

Thanks again BO !!

[slew101]

It's true. I filed on Feb. 1 and the notice I got was they won't start processing until Monday, Feb. 14, and the first refunds via direct deposit won't start hitting accounts until Friday, Feb. 25.

[Let's Roll]

I was told if you show itemized deductions, your return won't be reviewed/processed until after the 16th of Feb..
I heard the same thing from an IRS employee this past Thursday night.

[FantasticDan]

News snippet:

Due to the late passage of the Tax Relief Act of 2010, the Internal Revenue Service will be not be begin processing some tax returns until the middle or late February 2011. The Tax Relief Act reinstated several deductions that had already expired, such as the deduction that teachers can claim for classroom expenses, the tuition deduction, and the optional sales tax deduction. Tax forms, instructions, and tax software will need to be revised, tested, and released to the public before the IRS can begin accepting tax returns claiming these benefits.

More:

http://www.advisorone.com/article/after-delay-irs-will-begin-processing-returns-feb-14-claim-deductions

[boxcar]

There are certainly advantages to holding on to your own money as long as possible and then paying your tax bill on 4/15. I much prefer owing over getting a refund because I overpaid.

Boxcar

[mostpost]

I got my refund yesterday. I always overpay. I consider it a forced savings plan. I don't believe in the "hold on to your money as long as you can" and you could be earning interest on that money" theories. The interest on my refund would have been less than $40 at today's rates. And that is figuring as if I had the entire amount for the whole year. Now I have money to fund my betting bankroll for the year and buy a new area rug for the living room and have money left over. I would not have had that money if I had tried to save it out of my retirement checks and I seriously doubt many of you would have either. Regardless of what you think.

So those of you who hate giving the government your money and think you are saving money and earning interest, go ahead. I'm guessing you are probably not saving as much as you think.

[johnhannibalsmith]

I.... I would not have had that money if I had tried to save it out of my retirement checks and I seriously doubt many of you would have either. Regardless of what you think.

So those of you who hate giving the government your money and think you are saving money and earning interest, go ahead. I'm guessing you are probably not saving as much as you think.

The all-knowing has drawn his sword...

http://www.lovehkfilm.com/reviews/ab3219/swordsman.jpg

[boxcar]

I got my refund yesterday. I always overpay.

How super patriotic of you to leave your money on the table! :rolleyes: :rolleyes: But as for me, the old adage, "A penny saved is a penny earned" applies here. And then we have, "Waste not, want not". This, too, applies. Discipline does have its many advantages, doesn't it? :cool: :p

Boxcar

[Tom]

Tax forms, instructions, and tax software will need to be revised, tested, and released to the public before the IRS can begin accepting tax returns claiming these benefits.

Who's fault was that?

Oh, yeah, the Congress-full-of-aholes who dragged their feet while screwing the people once again.

A pox on everyone who sat in that cesspool.

[mostpost]

How super patriotic of you to leave your money on the table! :rolleyes: :rolleyes: But as for me, the old adage, "A penny saved is a penny earned" applies here. And then we have, "Waste not, want not". This, too, applies. Discipline does have its many advantages, doesn't it? :cool: :p

Boxcar
You're perfect; I'm not. :rolleyes: :rolleyes: :rolleyes: :rolleyes:

[boxcar]

You're perfect; I'm not. :rolleyes: :rolleyes: :rolleyes: :rolleyes:

Did you figure this out all on your own? :lol: :lol:

Boxcar

[cj's dad]

I got my refund yesterday. I always overpay. I consider it a forced savings plan. I don't believe in the "hold on to your money as long as you can" and you could be earning interest on that money" theories. The interest on my refund would have been less than $40 at today's rates. And that is figuring as if I had the entire amount for the whole year. Now I have money to fund my betting bankroll for the year and buy a new area rug for the living room and have money left over. I would not have had that money if I had tried to save it out of my retirement checks and I seriously doubt many of you would have either. Regardless of what you think.

So those of you who hate giving the government your money and think you are saving money and earning interest, go ahead. I'm guessing you are probably not saving as much as you think.

Once again Obama as---le gets a pass - Were GWB involved in this it would be all over MSNBC and Ko would be having a stroke - oh wait KO was let go for inferior ratings - oh wait, he had no ratings at all. OOPS !!

[sandpit]

I got my refund yesterday. I always overpay. I consider it a forced savings plan. I don't believe in the "hold on to your money as long as you can" and you could be earning interest on that money" theories. The interest on my refund would have been less than $40 at today's rates. And that is figuring as if I had the entire amount for the whole year. Now I have money to fund my betting bankroll for the year and buy a new area rug for the living room and have money left over. I would not have had that money if I had tried to save it out of my retirement checks and I seriously doubt many of you would have either. Regardless of what you think.


Seeing how the value of money decreases over time, lending the gov't your money for ZERO % interest is a guaranteed money losing plan.

Anybody could save money, like you said, by automatic deductions straight into a savings account of some type that can't be touched for a specified period of time, and voila, you'd have your gambling, or whatever, bankroll, plus a little interest.

[boxcar]

Seeing how the value of money decreases over time, lending the gov't your money for ZERO % interest is a guaranteed money losing plan.

Anybody could save money, like you said, by automatic deductions straight into a savings account of some type that can't be touched for a specified period of time, and voila, you'd have your gambling, or whatever, bankroll, plus a little interest.

Common sense living doesn't make any sense to a lib. You're wasting your breath. If it made any sense, they wouldn't be kneeling at the altar of Goddess Nanny.

Boxcar

[JustRalph]

Just when I think you actually have some sense, you pop off with one of these? Get real....... some of us have some discipline and save a buck. We are called responsible adults. And Conservatives too...... we have brains and we don't care to give our money away...for any length of time. Especially to a fiscally irresponsible regime who will use it to borrow more money later. Damn....!!! Just when I think I have heard it all. :bang: :bang:

I got my refund yesterday. I always overpay. I consider it a forced savings plan. I don't believe in the "hold on to your money as long as you can" and you could be earning interest on that money" theories. The interest on my refund would have been less than $40 at today's rates. And that is figuring as if I had the entire amount for the whole year. Now I have money to fund my betting bankroll for the year and buy a new area rug for the living room and have money left over. I would not have had that money if I had tried to save it out of my retirement checks and I seriously doubt many of you would have either. Regardless of what you think.

So those of you who hate giving the government your money and think you are saving money and earning interest, go ahead. I'm guessing you are probably not saving as much as you think.

[NJ Stinks]

Just when I think you actually have some sense...

Mostpost, I knew it wasn't going to end well after this intro. ;)

[ElKabong]

I got my refund yesterday. I always overpay. I consider it a forced savings plan. I don't believe in the "hold on to your money as long as you can" and you could be earning interest on that money" theories. The interest on my refund would have been less than $40 at today's rates. And that is figuring as if I had the entire amount for the whole year. Now I have money to fund my betting bankroll for the year and buy a new area rug for the living room and have money left over. I would not have had that money if I had tried to save it out of my retirement checks and I seriously doubt many of you would have either. Regardless of what you think.

So those of you who hate giving the government your money and think you are saving money and earning interest, go ahead. I'm guessing you are probably not saving as much as you think.

I've seen you post this nonsense before, here's my stock (humorous) reply to those w/o the self discipline to save as they go...

"Your comment reminds me of Peg Bundy poking fun at Al for signing on to a Christmas Savings Fund: 'What? You mean a fund for Losers that pays lower % of interest than you could make by simply investing that same money? Haaaaaaaaaaahahaha".

Stupidity can be comical sometimes...Thus, your post puts a smile on my face