Tuesday, July 14, 2020

Delayed Response time in Receiving E-file Acknowledgements (Acks)


As the 1040 filing deadline approaches, we are experiencing extremely high volume in e-filing and customers may experience longer wait times for acknowledgements (acks) from the Electronic Filing Center (EFC) and the IRS.

We recommend that you transmit e-files early (don't wait until the deadline) and often (not in large batches) during this period, as acks may take longer to post.

We appreciate your patience. 

Wednesday, May 20, 2020

Treasury is Delivering Millions of Economic Impact Payments by Prepaid Debit Card

WASHINGTON— This week, Treasury and the IRS are starting to send nearly 4 million Economic Impact Payments (EIPs) by prepaid debit card, instead of by paper check. EIP Card recipients can make purchases, get cash from in-network ATMs, and transfer funds to their personal bank account without incurring any fees. They can also check their card balance online, by mobile app, or by phone without incurring fees. The EIP Card can be used online, at ATMs, or at any retail location where Visa is accepted. This free, prepaid card also provides consumer protections available to traditional bank account owners, including protections against fraud, loss, and other errors. 
“Treasury and the IRS have been working with unprecedented speed to issue Economic Impact Payments to American families. Prepaid debit cards are secure, easy to use, and allow us to deliver Americans their money quickly,” said Secretary Steven T. Mnuchin. “Recipients can immediately activate and use the cards safely.”
Treasury has already delivered more than 140 million Economic Impact Payments worth $239 billion to Americans by direct deposit to accounts at financial institutions, Direct Express card accounts, and by check. The Treasury-sponsored EIP Card is another method to provide money efficiently and securely to eligible recipients and their families. EIP Cards are being distributed to qualified individuals without bank information on file with the IRS, and whose tax return was processed by either the Andover or Austin IRS Service Center.
Treasury’s financial agent, MetaBank, will mail EIP Cards to eligible recipients beginning this week. Each mailing will include instructions on how to activate and use the card.
The EIP Card is part of Treasury’s U.S. Debit Card program, which provides prepaid debit card services to federal agencies for the electronic delivery of non-benefit payments. MetaBank was selected as Treasury’s financial agent for the U.S. Debit Card program in 2016, following a competitive selection process conducted by the Treasury’s Bureau of the Fiscal Service.

Thursday, April 2, 2020

Cancelling IRS payments already submitted in a tax return


Note: IRS instructions for modifying payment methods are the same for individuals and businesses.
They do not allow the withdrawal date to be changed. They only cancel payments.

Direct Debit payments
  • Taxpayer can call the IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about or cancel a scheduled payment.
  • Please wait 7 to 10 days after the return was accepted before calling.
  • Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date.
EFTPS (Electronic Federal Tax Payment System)
See https://www.irs.gov/pub/irs-pdf/p4990.pdf

To cancel a payment, taxpayer will need the following: ­
  • Taxpayer’s EIN (for businesses) or SSN (for individuals) ­
  • PIN ­
  • Tax form number ­
  • The last eight digits of the EFT Acknowledgment Number for the payment to cancel (this was the confirmation received when the payment was scheduled).
If you do not have the last eight digits of the EFT Acknowledgment Number, please call EFTPS Customer Service:
  • English: 1.800.555.4477
  • En espaƱol (Spanish): 1.800.244.4829
Online
  • Log in and select “Payments.”
  • Select “Cancel a Payment” and follow the process. Record the Cancellation EFT Acknowledgment Number you receive, and keep for your records
Phone:
  • Call the EFTPS Tax Payment toll-free number (available 24 hours a day, 7 days a week): 1.800.555.3453 2 Follow the voice prompts.
  • Record the Cancellation EFT Acknowledgment Number received, and keep for your records.

Note: If you wish to cancel a scheduled payment, you must do so by 11:59 p.m. ET at least two business days before the scheduled date. For example, a payment scheduled for Monday cannot be canceled after 11:59 p.m. ET the previous Thursday.

Spanish Chat Support LIVE


We here at Refunds Today have been proudly serving the Latino community of tax preparers for over the past decade. In an effort to provide the best customer service possible, we are now excited to announce that we will be offering Live Chat Support in Spanish for all of our customers. If you have any questions or concerns, please be sure to click the link below to chat with a Spanish-speaking support representative today.


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Friday, March 27, 2020

IRS Help Desk Closures

Information from IRS regarding help desks:

The PPS line, the e-Services Help Desk line and the e-Services, FIRE and AIR system help desks are closed until further notice. Please make IRS.gov your first option for answers to questions. The IRS is temporarily suspending acceptance of new Income Verification Express Services (IVES) requests at this time and is experiencing delays with existing IVES processing as well as CAF number authorizations. Practitioners with e-Services accounts and with client authorization can access the Transcript Delivery System to obtain prior-year transcripts. Taxpayers should use Where’s My Refund? and Get Transcript, both common requests. Additionally, we are unable to answer any questions as yet on stimulus payments. Normal operations will resume as soon as possible. Please check IRS.gov for updates

Thursday, August 1, 2019

IRS E-file Blackout Aug 3-5

The IRS MeF (E-filing) Production system will be unavailable due to a system upgrade from Saturday, August 3, 2019, 12:01AM Eastern time through August 5, 2019, 11:59 AM Eastern time.

During these IRS e-filing blackout periods, the Electronic Filing Center (EFC) will continue to receive e-files from customers; however, please note:

  • E-files will be held at the EFC during this period. They will transmitted to the IRS when their system comes back online for processing;
  • Acknowledgements (acks) for these e-files will not be delivered until after we transmit to the IRS.

Friday, April 12, 2019

E-file Deadline April 15th Midnight EDT

We strongly encourage you to transmit your e-files at least two hours before the midnight (eastern daylight time) deadline.
As the April 15th deadline approaches, the processing volume at the IRS will increase. Both return volume and return size will affect processing time. While you are accustomed to receiving your Federal acknowledgements within a one hour time-frame, that turnaround time will increase as the deadline approaches. You may see your acknowledgements take from 2 to 4 hours, and possibly longer.

This is why we suggest that you send returns periodically throughout the day. This will help spread out the volume and also help eliminate some of the 'deadline rush' which also impacts IRS processing.

Taxpayers have until Monday, April 15, 2019 to file their 2018 returns and pay any taxes due.
Taxpayers requesting an extension will have until Tuesday, October 15, 2019 to file.
C-corporation income tax returns (IRS Form 1120) are due on April 15, 2019 for C corporations that operate on a calendar year, extended deadline is October 15, 2019.  The deadline for C corp returns is the 15th day of the fourth month following the end of the corporation's fiscal year if the corporation is on a fiscal rather than a calendar year.
For calendar year Estates and Trusts, file Form 1041 and Schedule(s) K-1 on or before April 15, 2019.  For fiscal year estates, file Form 1041 by the 15th day of the 4th month following the close of the tax year. For example, an estate that has a tax year that ends on June 30, 2019, must file Form 1041 by October 15, 2019. If the due date falls on a Saturday, Sunday, or legal holiday, file on the next business day.