Here are my annual words
of caution since some are so eager to file the returns early….remember patience
is a virtue and don't plan on your refund being in your account on a certain
date then you won't be disappointed or overdrawn. It is very possible that
you get a DD date then it gets put on hold while the IRS reviews the
account which can delay it for months. Do not be in a rush to transmit the
return … once you press that button you cannot stop the filing or make any
changes until the IRS accepts or rejects the return.
Last year the IRS started
verifying W-2 forms before issuing a refund which means filing your return
before the W-2 is issued will not work since your return will be held up until
the employer has filed the W-2 with the IRS. And if you have Earned Income
Credit or the Additional Child Tax credit the returns cannot be processed at
all until 2/15 so those refunds will not hit until late February at the
earliest … see this page :
https://www.irs.gov/newsroom/2018-tax-filing-season-begins-jan-29-tax-returns-due-april-17-help-avai...
The IRS no longer processes returns in first in first out batches. They are
processed individually so returns sent in at the same time will not necessarily
process together.
The IRS states that 9 of
10 returns will process in 21 days or less from being accepted not filed.
However considering that the IRS processes more than 140 million returns that
means 14 million will be delayed for more than 21 days.
Think of the IRS process as a long pipe line. Some returns will be rejected
before being allowed into the pipe and the rest will be accepted. Then once
accepted into the pipeline many will process directly through without any
delays and some will not. Some returns will be siphoned off for further
review of some kind. The basis of what triggers these reviews is a well guarded
secret but some are just picked randomly every year.
Some reviews are automated and some will require human attention. The
processing times will vary and due to the continued understaffing situation and
the gov shutdown they are likely to take much longer this year than last.
