Cathy Posted January 25, 2012 Report Share Posted January 25, 2012 Has anyone noticed the cut-off days are now on WEDNESDAYS as are the dates for deposits? Did anyone's client receive their refund today (Wednesday) for the returns e-filed on 1-17 and 1-18? Thanks, Cathy (Too bad we can't edit the titles) Quote Link to comment Share on other sites More sharing options...
Edward Posted January 25, 2012 Report Share Posted January 25, 2012 I received an acknowledgement at 12:00 am when I had efiled the return at 1:30PM same date and in same time zone. How can they put a time before I efiled the return, or am I misreading this? Too, I efiled a return @ 10:15pm on the 22nd, they acknowledged at 12:00am on same date? I am assuming we are in the same time zone as the efile manager shows Austin. According to the Refund Cycle Chart the refund should be in the bank by the 1st of February, correct? Now when I go to "where's my refund" it tells us that the deposit should be in the bank by the 7th of February which is 6 days later than what the Refund Cycle Chart says. A mailed refund would have arrived the 3rd of Feb, or 4 days earlier. It appears the acknowledgements are coming fast but shouldn't the deposits be equally fast? This dosen't make sense. ......Any comments? Quote Link to comment Share on other sites More sharing options...
AnnieR Posted January 25, 2012 Report Share Posted January 25, 2012 I don't know about the other dates, but the chart's date for mail is the date the check is to be mailed and all the dates , dd & check by mail, are projected dates. The chart states: This is the projected date that the refund will be direct deposited or mailed. It may take up to 5 additional days for it to post to your account or be delivered. The message on the chart in prior years stated "THE IRS DOES NOT GUARANTEE ANY SPECIFIC DATES". AnnieR Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted January 26, 2012 Report Share Posted January 26, 2012 I received an e-mail for ATX this morning explaining that IRS (although not officially) is saying that their fraud software is detecting more than expected returns, many which are correct but are erroneously showing up as suspicious, thus delaying the refunds per their cycle. They are suppose to be working on this problem but again ATX says they haven't heard anything official. ATX is doing a great job keeping us informed this year. I would like to remind everyone to log on to MyATX and subscribe to their e-mails. It has taken a lot of frustration out of my year so far. Deb! 1 Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted January 26, 2012 Report Share Posted January 26, 2012 I agree with the comment about keeping us informed. What a great turn around from the past. I am greatly encouraged by this and other outreach and support we have been receiving. I am glad I stuck with it! Quote Link to comment Share on other sites More sharing options...
taxguy057 Posted January 27, 2012 Report Share Posted January 27, 2012 @Cathy I'm looking at the IRS Refund Cycle Chart for 2012 and the range of the acceptance dates of returns are from friday to thursday so would that put the cutoff day at thursday like its always been before? Where did Wednesday as cutoff day come from? Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted January 27, 2012 Report Share Posted January 27, 2012 The IRS issued an e-Alert yesterday warning preparers that many refunds are being delayed initially while they "fine-tune" their fraud management systems. Here is the text from the e-mail I received: The IRS has opened its filing season successfully this month, and refunds have started going out to many taxpayers. As with the start of any tax season, there are system validations that occur requiring some fine-tuning of our systems. As part of this, some taxpayers will receive refunds approximately one week later than initial projections they may have received, but these are still in line with historical refund delivery times. The IRS reminds taxpayers that refund time frames provided by “Where’s My Refund” and tax providers are projected time frames and are subject to revision. Many different factors can affect the timing of the refund after the IRS receives the return for processing. The IRS apologizes for any inconvenience caused by the revised refund dates. When the IRS announced the opening of the 2012 filing season, it advised taxpayers who electronically file and select direct deposit that they could see their refunds in as few as 10 days and 90 percent of refunds are provided within 21 days. Some taxpayers are getting refunds much faster, but at this time taxpayers should expect refunds to be issued as indicated in the original IRS guidelines. The one-week delay for some refunds relates to fine-tuning IRS systems to adjust for new safeguards put in place this tax season to provide stronger protection against refund fraud. The IRS is providing additional screening for fraud this year before issuing refunds, but the vast majority of taxpayers can still continue to expect to receive their refunds in a timely fashion. Quote Link to comment Share on other sites More sharing options...
lydia33 Posted January 27, 2012 Report Share Posted January 27, 2012 I watch My atx tv every morning during the week. I have the e-file cycle chart in front of me and emailed and asked why the refunds they refer to coming back on Fridays when it is plane as day it says Wed's date. I emailed them and asked and got sent to a taped show and they were saying the same thing Friday. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 27, 2012 Report Share Posted January 27, 2012 I tell my clients... "The IRS posted schedule says xx-xx-xxxx. It also says that no deposit dates are guaranteed. Expect your refund in 3-4 week or less. It could be as quick as 8 days, but as much as 28. I say this from experience over the last 2 years." Quote Link to comment Share on other sites More sharing options...
Pacun Posted January 30, 2012 Report Share Posted January 30, 2012 Cathy, edit your original post and click on Full Editor and you should be able to edit the title. Quote Link to comment Share on other sites More sharing options...
Cathy Posted January 31, 2012 Author Report Share Posted January 31, 2012 @Cathy I'm looking at the IRS Refund Cycle Chart for 2012 and the range of the acceptance dates of returns are from friday to thursday so would that put the cutoff day at thursday like its always been before? Where did Wednesday as cutoff day come from? If you look at the cycle we are in today, January 30, 2012.......it falls with January 26 (Thursday) and February 1, 2012 (Wednesday...by 11:00 am) rather than the cut-off date of Thursday as they had for last year and previous years. Quote Link to comment Share on other sites More sharing options...
chadlonetree Posted February 2, 2012 Report Share Posted February 2, 2012 Anyone heard back from clients about refunds? I know many of us suspected that with the refund cycle being a day earlier for Deposits being sent, that they may be showing up on Thursdays instead of Fridays. Anyone heard if this is true? I have been used to saying the past several years "IRS refunds you will receive on Fridays" which was the case with almost every bank. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 2, 2012 Report Share Posted February 2, 2012 I stay out of trouble concerning refund depost dates and times with the following: "The IRS posted schedule says xx-xx-xxxx. It also says that no deposit dates are guaranteed. Expect your refund in 3-4 week or less. It could be as quick as 8 days, but as much as 28. I say this from experience over the last 2 years." Quote Link to comment Share on other sites More sharing options...
mcb39 Posted February 3, 2012 Report Share Posted February 3, 2012 I have a client who received his DD refund yesterday, which is a Wed and therefore follows the projected dates in the refund schedule. This is the only one I have heard from. Quote Link to comment Share on other sites More sharing options...
Teri2414 Posted February 4, 2012 Report Share Posted February 4, 2012 Some of the DD refunds due 2/1 went to 2/3 - including my own..and another one actually reads on the IRS site that it will deposit 2/6...so...is the IRS now trying to deposit every day to catch up? Quote Link to comment Share on other sites More sharing options...
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