All Posts

Is the refund supposed to go directly from the IRS to your bank account?   If so, it may arrive today.   You can phone the bank and ask them if they can see any information yet if they are getting an ACH deposit from the IRS/Treasury, or if they refused one and sent it back.  Ask for the department familiar with ACH.   If you chose any option that use a third-party bank, then the funds travel a different route.   Did you happen to pay any fees out of your refund, or choose the "up to 5 days early" offer, or have a Refund Advance?  In those situations, the funds go first from the IRS to the third-party bank, and then that third-party bank sends the rest to your bank (or card) in a second direct deposit.    

Also looking for an answer here since I have gains from foreign currency ETFs: says to report it on other income and enter an "other" adjustment to the gain/loss reported.   While reporting it as other income is easy enough, I don't understand how to adjust the number from the Robinhood 1099. Please help!

The path your Federal refund will take depends on whether the refund was coming to you directly from the IRS/US Treasury or if it is coming through a third-party bank (such as if you paid fees out of the refund, or "up to 5 days early" option, Refund Advance, etc.)    If a third-party bank is involved, your bank will likely send it back to that third-party bank, which "should" send you a check in the mail.   In less likely circumstances, the third-party bank sends it back to the IRS.    Again that's only IF you chose one of those third-party offers.     If your Federal refund was to come to you directly from the IRS/US Treasury to your bank, and the bank sends it back to the IRS, then this may be what will happen.   There is a new process for that situation that started this year.  Because of a recent Executive Order, the IRS is trying to avoid issuing paper checks and phasing them out whenever possible.    Starting this year, if a bank sends the refund back to the IRS, a paper check may not automatically be sent.   Instead, it's possible that the refund would be frozen up to 30 days, and the IRS may give you a chance to correct the deposit info within that 30 days by using your Online IRS account (or establishing one) to update the deposit information.   The IRS may send you a letter called a CP53E notice.  It may take a couple of weeks to arrive after the initial deposit was returned to the IRS.   IRS:  Understanding your CP53E notice https://www.irs.gov/individuals/understanding-your-cp53e-notice   If the update in the Online IRS Account is unsuccessful, or if you don't respond to the CP53E notice to update it, the IRS says it will ultimately issue the paper check after 6 weeks have gone by.   There are FAQs about the process on that IRS page I linked above.

For a lot of states that's not unusual.   Some states are fairly quick with refunds, while other states can take a long time processing returns--even several weeks--as they crack down on detecting fraudulent returns.     Here are some things you should check:   First, you need to be sure your state return was successfully filed.   If you efiled, be sure your efiled state return was accepted.  If you used Online TurboTax, you can check by looking at the Tax Home in your Online account.   Or did you choose to file by mail instead?  TurboTax does not mail it for you.  If you chose that method, you have to print, sign, date, and mail it.   The FAQ below tells how to check on a state refund.   When you scroll down further there, you will see a link for your state.   Your state's website may have a notice there or a FAQ that tells about how long it usually takes in your state.   FAQ:  How do I track my state refund? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...

@ youcangetit2025 wrote: I'm having a hard time getting to where I can pay the price that I was given whenever I first went online to start my taxes. If I'm not mistaken you guys just settled a class action lawsuit on this very same thing. I was told $79 and now I'm being tricked into $188 I don't think so I'll call the Federal communication commission and get them involved now.  This is mainly a user community forum.  I'm a fellow user and don't work for TurboTax, but I can tell you a bit about how their prices work.  They say their prices can change at any time.  Historically, it has worked like this: In the early half of filing season, they offer discounted prices.   Then historically on March 1 the prices revert to the late-season pricing.    So prices went up yesterday unless paid prior to then.   As I look now at the product pages, it looks like they may go up yet again at some point.   To make it more confusing, they occasionally run a special discount that lasts a few days.   Are you using the Premium edition?   $188 sounds like the March 1 pricing for the Premium edition with both a Federal and state return.   Starting March 1 this is what is currently showing: Premium Federal  $129 Premium State $59    From the pricing page it looks like it may increase again at some point.   When the next price increase occurs, it looks like the undiscounted price for Premium will become $139 for Federal and $64 for state.      Here's the current Premium product page and pricing  (the slashed price is the late-season price if there was no discount) https://turbotax.intuit.com/personal-taxes/online/premium/   I don't know if you would qualify for the Deluxe Edition (it depends on the situations in your return), but the Deluxe edition also increased on March 1, and here's the current Deluxe pricing: Deluxe Federal $69 Deluxe State  $59   If you qualify for Deluxe, you may be able to downgrade.   Online Deluxe cannot handle Schedule C (business with expenses), Schedule D for capital gains/losses from stocks, bonds, mutual funds, etc., Schedule E for Rentals/royalty,  or Schedule F, and cannot enter K-1.

@ crowson10 wrote:  Where do I find the 25-55 section? Turbo Tax is providing an answer but the words and location are not matching up.   Does that mean the Form 2555, Foreign Earned Income?   If so, here are 2 ways to get there.   In the left menu column, under Federal choose Wages & Income, then choose Wages & Income Summary. You may arrive at a summary page called "Your income and expenses."   Scroll way down that page to "Less common income" and expand that section.  You should see a subtopic for "Foreign Income"   Or if you have trouble with that navigation, here's a shortcut that will take you there:   Go to the left menu column and click on the tab TAX TOOLS, then the subtab TOOLS. In the Tools Center choose the blue button Topic Search. In the topic search line enter the phrase foreign earned income without quotes.  Or if you prefer, you can enter 2555 without quotes. Make the selection in the list (it may already be highlighted), and either double-click it or click the GO button. Next screen is "Did you make any money outside the United States?"

@ashjosh8292  asked:  "Can you see if my refund or if I got a notice from them."   Are you referring to a Federal refund?  No one here can check on your Federal refund for you, but we may be able to suggest some things.     Is "them" the IRS?  Why do you mention a notice?    If you efiled, make sure your efiled return was accepted for processing by the IRS.  You can check at the Tax Home of your Online TurboTax.   Does the status show as accepted, rejected, printed, started, or something else?   If the Tax Home confirms that your efiled return was accepted for processing, then what do you see when you check your Federal refund at the IRS "Where's My Refund" tool? https://www.irs.gov/refunds