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| Name | 2024 IRS TAX REFUND UPDATE - NEW Refunds, Tax Delays, Transcripts, ID Verification, Notices |
| Video Uploader | Video From UI Vlogs 2021 |
| Upload Date | This Video Uploaded At 19-04-2024 12:10:00 |
| Video Discription | On today’s IRS tax refund update as we have finally passed the tax filing deadline for the year, tax processing continues for millions of tax returns that have been submitted as far back as January with refund delays increasing for many due to a variety of reasons so we are going to recap the latest including the next refund release date set by the IRS, and some of cause of those ongoing delays. Starting off with the latest as the next batch of direct deposit refunds is scheduled for release on April 23rd, now if your part of this latest refund batch while most will receive it the day of if not before, do wait up until April 29th for it to post to your bank account before initiating a payment trace with the IRS. Meanwhile even though the tax filing period officially ended for the year the IRS is closing in on 2 million tax returns filed as far back as January that still remain unprocessed as of this recording. Now tax processing will continue on these returns, however given the amount of unprocessed returns still remaining it is for certain delays on refunds at this point will in fact continue through summer. Now recapping delays experienced by our viewers throughout the tax season the most significant amount of refund delays has been as a result of reviews on tax refunds whether a random review or because of a specific issue detected by the IRS computer system during tax processing. For those impacted by this issue you are likely to see the 570 code on your tax transcripts, and one of several different types of IRS notice specifically the 60 day notice and the CP 05 letter from the IRS. The causes of the reviews and the need for further examination of the tax return often have to do with the wages and tax withholding’s being reported. The IRS will take the amounts you are reporting and compare it to what the issuer of your tax forms usually your employer has reported on their tax returns for accuracy. So when it comes to a random review it is out of the control of the taxpayer, and the selection is done regardless of whether or not you have had issues with your tax return in the past. 0:00 Introduction 0:22 New Refunds 1:02 Refund Delays 2:35 ID Verification 3:32 Tax Assistance 4:47 Closing This video is under Fair Use: Copyright Disclaimer under Section 107 of the Copyright Act in 1976, Allowance is made for "Fair Use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright status that might otherwise be infringing. Disclaimer: This is for informational purposes only and is subject to change. Material provided should not be considered tax, accounting, or legal advice. Please consult a certified tax consultant for tax advice. #TaxRefund #IRS #News #Taxes #TaxReturn #Tax #Refund #TaxSeason #youtube #video #new #newvideo #breaking news |
| Category | News & Politics |
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