How long to get IRS refund when filing electronically - incl. TeleFile?
Michael Thal
THREE QUESTIONS:
1. If you filed electronically, such as with Turbo Tax, how long did it
take?
2. If you filed over the phone using TeleFile, how long did it take?
3. Was the check mailed or was it a direct deposit?
Thank you in advance.
Michael Thal
mt...@att.net
D. Stussy
Note: It takes a MINIMUM of 2 IRS computer cycles for the IRS to process a
return. A cycle is 1 week, and the cutoff for the weekend's cycle (the "master
file" update is on Saturdays) is Thursday at noon.
Suppose one mails the return on Friday, 1/29/99. The IRS receives it on
Monday, 2/1. If they input it before 2/4 at noon, then it counts for that
cycle. Information goes to be processed in West Virginia. Second weekend, the
information is returned (there's your 2 cycle minimum) or a reject notice is
issued (2 returns under the same SSN - happens mainly with illegal aliens).
Refund is therefore ready by the week of 2/15. If one gets a paper check, IRS
refunds print on Fridays (2/19) and the check would arrive on 2/22.
Electronic filing: Slightly shorter time since one knows it is filed when the
electronic confirmation comes back successful. Still a Thursday @ noon cutoff.
Telefile should take the same time.
Electronic Deposit: Slightly shorter since there's no delay for a paper check.
Therefore, for both an electronic filing with direct deposit of the refund, I
say 2 or 3 weeks. For an all-paper transaction, 4 weeks, if everything is
timely processed. Much longer as the backlog grows as one approaches April 15.
----------
The only time I had an electronic deposit of a refund was back in 1995. I had
filed on January 31 and my bank didn't receive the deposit until May 27, even
though the refund had been authorized by March 6. In following up, the IRS
indicated that there was no problem with the Bank's RTN, account #, or my name
- they never figured out the problem. Because of this, I do advise my clients
NOT to ask for direct deposit of a refund. Perhaps this glitch won't happen
again, but why ask for trouble?
HELJAN gal
In article <Pine.LNX.3.96.99013...@dns.bde-arc.ampr.org>, "D.
Stussy" <kd6...@bde-arc.ampr.org> writes:
>The only time I had an electronic deposit of a refund was back in 1995. I
>had filed on January 31 and my bank didn't receive the deposit until May 27,
>even though the refund had been authorized by March 6. In following up, the
>IRS indicated that there was no problem with the Bank's RTN, account #, or my
>name - they never figured out the problem. Because of this, I do advise my
>clients NOT to ask for direct deposit of a refund.
Gee, another way to screw your clients. Direct deposit cuts a week off of the
refund and works right about 99% of the time.
Helen, EA in PA
Member of NAEA, NATP and the Tax Gang
Michael Thal
works 99% of the time.
In fact, I could not be more pleased with California Franchise Tax Board.
Last Saturday, I filed electronically using Turbo Tax - the refund was in my
account this morning. ONE WEEK!
Michael Thal
mt...@att.net
>Stussy writes:
>
>>The only time I had an electronic deposit of a refund was back in 1995. I
>>had filed on January 31 and my bank didn't receive the deposit until May
27,
>>even though the refund had been authorized by March 6. In following up,
the
>>IRS indicated that there was no problem with the Bank's RTN, account #, or
my
>>name - they never figured out the problem. Because of this, I do advise
my
>>clients NOT to ask for direct deposit of a refund.
>
Helen, EA in PA replies...
Michael Thal
actually received their Federal Tax refunds.
Fortunately, I did find this excerpt from a reply to my post on another
newsgroup:
"I just had mine come in yesterday after electronically filing one week
earlier."
D. Stussy wrote...
>The only time I had an electronic deposit of a refund was back in 1995. I
had
>filed on January 31 and my bank didn't receive the deposit until May 27,
even
>though the refund had been authorized by March 6. In following up, the IRS
>indicated that there was no problem with the Bank's RTN, account #, or my
name
>- they never figured out the problem. Because of this, I do advise my
clients
Don Priebe
> I was actually looking for replies from persons who had
> actually received their Federal Tax refunds.
Federal electronic filing opened up on January 15. The scheduled
refund direct deposit date (at least for the Andover center) is the
Friday in the week after the Wednesday after the return is accepted.
That would make the first direct deposit date January 29. We were
notified on Friday by our servicing bank that the proceeds of about 70
returns had been received. So that part is working.
The paper check mailing date for electronic filing is one week after
the direct deposit date. So the first checks should be mailed on
February 5.
Don EA in Upstate NY
Michael Thal
>That would make the first direct deposit date January 29. We were
>notified on Friday by our servicing bank that the proceeds of about 70
>returns had been received. So that part is working.
>
>The paper check mailing date for electronic filing is one week after
>the direct deposit date. So the first checks should be mailed on
>February 5.
>
Don,
FYI, I filed using TeleFile on Saturday, January 23rd. My direct deposit
refund was in my checking account this morning, February 5th - i.e., 13
days.
I filed my state (Calif) taxes using TurboTax, instead of TeleFile. My
direct deposit was in my account in just seven days. So I am left wondering,
if electronic filing is faster than TeleFile for IRS direct deposit refunds.
Michael Thal
mt...@att.net