Will the IRS accept my return on Jan. 14?

Question

I am not affected by any of the forms that are included in the delay of processing tax returns (Form 8863, Education Credits
Form 5695, Residential Energy Credits
Schedule 2, Form 1040A, Child and Dependent Care Expenses for Form 1040A Filers
Form 8396, Mortgage Interest Credit
Form 8859, District of Columbia First-Time Homebuyer Credit) So will the IRS still wait until Feb. 11 to process my tax returns? The only reason I'm courious is we are leaving to go to Disney World on Jan. 18 and even though we have plenty of spending money, it would be nice to have that extra chunk of change to take with us so we could do even more for the kids

Well we use the RAL because I have "deductions" that cover those cost. The $230 in self prep and ral fees don't really matter since we get back between $6-7k. And with Tax Brain, they save our employers information and our morgage companys info so we use our last statements from the morgage company and our last check stubs of the year because they have all the information we need to fill out the form that requires our w-2 information.

And by the way, thank you to everyone for the rapid response to my question.

Answer 1

You cannot get a refund in 4 days, and there isn't any tax service doing the tax return loans anymore like H&R Block used to do, so dont plan on getting any money by Jan 18.

Also, do you not have any savings or other accounts that you need to wait for those statements before preparing your return ? Mortgage interest, real estate taxes?

Seems like a rush for no real good reason..

But good luck to you

Answer 2

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Answer 3

You can't file a legal return without your W-2s. PERIOD! Tax preparers are prohibited by law from e-filing a return without seeing the Form W-2s. Paystubs do NOT have all of the information required to file a valid return. Few of them have the employer's FEIN and virtually none of them have all of the data and codes from boxes 7 thorugh 14 that may be needed to e-file a return.

Even if you can e-file by the 14th, it's questionable that you will see a RAL by the 18th. They typically take 3 to 5 business days to process and as the 14th is on a Sunday they won't start the ball rolling until the 15th. And if the processing of your return is delayed for any reason you won't get a RAL at all. Just because you are not filing one of the affected forms is NOT a guarantee that your return won't be delayed.

Even if they can deliver by then, you will NOT get the full amount of your refund if you are expecting $6 to $7k. Most limit RALs to $1,500. Not to mention the absurd fees and interest you'll pay; the APR on those is as high as 2,500%.

Answer 4

If you have all of your tax documents, the tax prep places will prepare your return on January 11 and you can get your money before you leave for Disney World, if the IRS accepts your return.

On January 14, the IRS will begin to accept returns that are not subject to the AMT or those which include any of the forms you listed in your question.

Answer 5

We have been told by our software companies we can transmit the first returns on January 11 and will receive our first acknowledgments on January 14. They have not told us the refunds would be held up on any except for the forms you listed.

If you do not have any of the forms you listed, you should get your refunds shortly after filing and acceptance.

Hope this answers your question.

Answer 6

you can only file when you have your w-2 and/or 1099. the law says you should be supplied them by your employer or bank or brokerage house by a deadline of jan 31 each year. you will have from 1/31 till 4/15 to file. you can extend if you meet certain tax requirements beyond 4/15 (see irs.gov or your tax preparer). if you don't, you may be liable for penalties and interest for the amount owed (if any) for that period of time beyond 4/15.

Answer 7

You can efile then, but you won't have your refund by 1/18 unless you take one of those high cost RAL's that some tax preparers offer. They are a real ripoff.

Have fun at Disney.....

Answer 8

Will they accept it? Yes. Will you receive the money within 4 days? No. End of story.

Answer 9

They will accept it.
The problem will be getting your refund as soon as you think you will.
It may take several weeks to a month or more.