How the 2014 IRS Tax Refund Schedule Dates Can Affect You
As many people found out
in 2013, filing your 2012 tax return got a little interesting. They found out
the hard way that filing early really didn’t help anyone this year as returns
were not processed by the IRS until after January 31st.
This was mostly due to the sweeping changes made in the tax code the previous year with all of the Bush-era tax cuts ending and the changes made by the passing of Obama’s health care initiative.
All of this had to be analyzed and added to the tax code which made the refund delay for many people. Of course, if you waited until after January 31st and filed in any usual manner, the tax schedule was normal for you. You still had the typical schedule for your return whether you chose standard or e-filing options.
What about 2014?
This hit on the early filers this year may have unintended consequences for 2014 as well. Since the refund schedule was thrown off for those early birds last year, they may be reluctant to file early next year which may have consequences for those working at tax preparation services as many will choose to wait and file later.
To many, the perk of getting money early was worth the service fee charged by preparers but after the 2013 return delay, this put a sour taste in their mouths. Now if things stay as they are this year and there are no major changes to government or tax codes, then we should see no delays in the refund schedule found on www.easyincometaxfilingonline.com/tax-refund-schedule-dates/
Also, since a huge extension was given to those needing to file their return late, the schedule that many followed this year will not be the same next tax season and most will see the schedule from previous years which they had become used to.
There are no new tax breaks projected for those filing taxes for the rest of this year or the next. E-filing still should get you your tax refund within 14-21 days while those filing by hand can expect the normal 4-6 week processing.
The mix-up this year was only for those who filed early as their refund was not filed until January 31st no matter when in that month they chose to file. This change is not expected to carry over to the 2014 tax season so the impact on taxpayers can be expected to be minimal at worst.
Now this situation could change quickly if there are any changes to the tax code so stay tuned and see what happenings in Congress or the White House could affect the IRS’ ability to process returns quickly like they did before 2013. As far as any economic impact goes, the only impact may be to tax preparation services who may not open as early in the year as to avoid the same situation in telling customers they won’t get their refund as quickly as they hoped and yet still justifying their fees to customers.
Making Sure You Get Your Refund Fast
Besides the IRS's own obstacles to providing refunds, many times refunds are delayed because of mistakes made by the tax payer. Tax payers who use TurboTax have a very low instance of filing for refunds that get delayed because of missing information, or that get rejected for any reason.
The TurboTax program takes your information and tests it against IRS rules and best practices, and all along the way of using TurboTax to create your tax return, you have a side by side companion who is watching out to make sure the return you file is accurate, and gets you the highest possible amount of money back from the government.
This was mostly due to the sweeping changes made in the tax code the previous year with all of the Bush-era tax cuts ending and the changes made by the passing of Obama’s health care initiative.
All of this had to be analyzed and added to the tax code which made the refund delay for many people. Of course, if you waited until after January 31st and filed in any usual manner, the tax schedule was normal for you. You still had the typical schedule for your return whether you chose standard or e-filing options.
What about 2014?
This hit on the early filers this year may have unintended consequences for 2014 as well. Since the refund schedule was thrown off for those early birds last year, they may be reluctant to file early next year which may have consequences for those working at tax preparation services as many will choose to wait and file later.
To many, the perk of getting money early was worth the service fee charged by preparers but after the 2013 return delay, this put a sour taste in their mouths. Now if things stay as they are this year and there are no major changes to government or tax codes, then we should see no delays in the refund schedule found on www.easyincometaxfilingonline.com/tax-refund-schedule-dates/
Also, since a huge extension was given to those needing to file their return late, the schedule that many followed this year will not be the same next tax season and most will see the schedule from previous years which they had become used to.
There are no new tax breaks projected for those filing taxes for the rest of this year or the next. E-filing still should get you your tax refund within 14-21 days while those filing by hand can expect the normal 4-6 week processing.
The mix-up this year was only for those who filed early as their refund was not filed until January 31st no matter when in that month they chose to file. This change is not expected to carry over to the 2014 tax season so the impact on taxpayers can be expected to be minimal at worst.
Now this situation could change quickly if there are any changes to the tax code so stay tuned and see what happenings in Congress or the White House could affect the IRS’ ability to process returns quickly like they did before 2013. As far as any economic impact goes, the only impact may be to tax preparation services who may not open as early in the year as to avoid the same situation in telling customers they won’t get their refund as quickly as they hoped and yet still justifying their fees to customers.
Making Sure You Get Your Refund Fast
Besides the IRS's own obstacles to providing refunds, many times refunds are delayed because of mistakes made by the tax payer. Tax payers who use TurboTax have a very low instance of filing for refunds that get delayed because of missing information, or that get rejected for any reason.
The TurboTax program takes your information and tests it against IRS rules and best practices, and all along the way of using TurboTax to create your tax return, you have a side by side companion who is watching out to make sure the return you file is accurate, and gets you the highest possible amount of money back from the government.