Money Today That Matters Tomorrow
Many tax payers are seeing the following startling messages on WMR or IRS2Go when they go to check the status of their refund. Naturally their reaction is one of shock, followed by frustration and anger. These notifications are to inform tax filers about adjustments the IRS automatically made that either …
2021 was not an easy year for investors to navigate. With political unrest in the wake of the previous year’s election, a pandemic that kept wide swathes of the economy closed down and disrupted supply chains, and the alarming start of inflationary prices, it was hard to find good bets …
Transaction codes are used on IRS tax transcripts to provide information for individual and business filers into what is currently happening with their tax return processing, reasons for potential delays, when a refund will be paid or why it was lower than expected (offsets). There are dozens of codes, but Code …
I got the following longish comment on a recent article covering tax season delays/frustrations, from someone who may have worked at the IRS to retort all the negativity folks are putting out there this tax season due to extended delays with refund payments and processing beyond normal timelines. Interesting to …
A lot of filers face a sense of dread after they receive a IRS notice or letter in the mail advising them that they need to provide more information related to their tax return, take some action or potentially face further examination or audit by the IRS. A primary concern …
You go and check the mailbox and realize you’ve received a dreaded letter from the IRS. Scary, right? No one wants to receive a note from the IRS because they aren’t usually friendly or nice. You were expecting your tax refund to hit your bank account and instead are faced …
Tax codes, topics and notices are used across the IRS to provide information for individual and business filers around what is currently happening with their tax return filing, reasons for potential processing delays or further reviews/audits, when a refund will be paid or why it was lower than expected (offsets). …
Many tax filers are seeing the message below on the IRS’ Where is My Refund (WMR) page or IRS2Go app days after their 2021 return is filed and accepted by the IRS. Unfortunately this message just seems to create more frustration and confusion for many filers, because it does not …
As everyone knows, Russia has launched a series of unprovoked attacks across the Ukraine. This is an evolving situation and likely to play out over several weeks. I want to first acknowledge that a global war and the likely humanitarian crisis for the Ukrainians is on top of mind and …
I recently ran a poll on my YouTube channel that asked tax filers who have got their refund, or confirmation of it being paid, which tax software provider they used. Below are the result of the poll. Obviously the poll is not a scientific study, but it does correlate surprisingly …
Transaction codes and tax topics are used across IRS refund applications (like WMR/IRS2Go) and account transcripts to provide information for individual and business filers into what is currently happening with their tax return processing, reasons for potential delays, when a refund will be paid or why it was lower than expected. …
With millions of Americans anxiously waiting for their tax refund, which can be the largest single payment of the year for many filers, it is not uncommon to hear frustration with the various IRS systems designed to provide the latest updates on tax processing and refund payments. The Where is …
Many tax filers experience a feeling of joy when they see the refund approved and sent status on WMR/IRS2Go or code 846 (refund issued) on their tax transcript. However this turns into sadness and frustration when they see that their estimated refund on their transcript or actual refund in their …
The IRS processes tax returns based on a standard set of guidelines and instructions. These are codified in tax codes, which are then used across various internal systems to process returns, manage errors and eventually pay refunds. These codes are simplified to tax topics for individual and business filers to …