General

Apr 11, 2018 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. we provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year.

As of today, the estimated percentage of refunds not yet released by the IRS are:

– for returns filed 02/13 and prior, most refunds have been released by the IRS.

– for returns filed 02/14 – 03/11, approximately 10% have not yet been released by the IRS.

– for returns filed 03/12 – 03/19, approximately 15% have not yet been released by the IRS.

– for returns filed 03/20 – 03/27, approximately 20% have not yet been released by the IRS.

– for returns filed 03/28 – 03/28, approximately 30% have not yet been released by the IRS.

– for returns filed 03/29 – 03/30, approximately 45% have not yet been released by the IRS.

– for returns filed 03/31 – 04/03, approximately 50% have not yet been released by the IRS.

– for returns filed 04/04 – 04/04, approximately 70% have not yet been released by the IRS.

– for returns filed 04/05 – 04/05, approximately 95% have not yet been released by the IRS.

– for returns filed 04/06 and beyond, the IRS has released very few refunds.

Apr 10, 2018 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. we provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year.

As of today, the estimated percentage of refunds not yet released by the IRS are:

– for returns filed 02/13 and prior, most refunds have been released by the IRS.

– for returns filed 02/14 – 03/10, approximately 10% have not yet been released by the IRS.

– for returns filed 03/11 – 03/19, approximately 15% have not yet been released by the IRS.

– for returns filed 03/20 – 03/27, approximately 20% have not yet been released by the IRS.

– for returns filed 03/28 – 03/28, approximately 45% have not yet been released by the IRS.

– for returns filed 03/29 – 04/03, approximately 50% have not yet been released by the IRS.

– for returns filed 04/04 – 04/04, approximately 95% have not yet been released by the IRS.

– for returns filed 04/05 and beyond, the IRS has released very few refunds.

Mar 26, 2018 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year.

As of today, the estimated percentage of refunds not yet released by the IRS are:

– for returns filed 01/24 and prior, most refunds have been released by the IRS.

– for returns filed 01/25 – 02/23, approximately 10% have not yet been released by the IRS.

– for returns filed 02/24 – 03/06, approximately 15% have not yet been released by the IRS.

– for returns filed 03/07 – 03/07, approximately 25% have not yet been released by the IRS.

– for returns filed 03/08 – 03/12, approximately 30% have not yet been released by the IRS.

– for returns filed 03/13 – 03/13, approximately 40% have not yet been released by the IRS.

– for returns filed 03/14 – 03/18, approximately 70% have not yet been released by the IRS.

– for returns filed 03/19 – 03/19, approximately 75% have not yet been released by the IRS.

– for returns filed 03/20 and beyond, the IRS has released very few refunds.

    Mar 23, 2018 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year.

As of today, the estimated percentage of refunds not yet released by the IRS are:

– for returns filed 01/21 and prior, most refunds have been released by the IRS.

– for returns filed 01/22 – 02/20, approximately 10% have not yet been released by the IRS.

– for returns filed 02/21 – 03/06, approximately 15% have not yet been released by the IRS.

– for returns filed 03/07 – 03/07, approximately 25% have not yet been released by the IRS.

– for returns filed 03/08 – 03/11, approximately 30% have not yet been released by the IRS.

– for returns filed 03/12 – 03/13, approximately 40% have not yet been released by the IRS.

– for returns filed 03/14 – 03/18, approximately 70% have not yet been released by the IRS.

– for returns filed 03/19 and beyond, the IRS has released very few refunds.

Updated Withholding Calculator Reflects Changes in New Tax Law

To help taxpayers, the IRS updated the special Withholding Calculator tool on IRS.gov to reflect changes in the Tax Cuts and Jobs Act passed in December.

With most employees seeing withholding changes in their paychecks, the IRS recommends taxpayers use the Withholding Calculator to do a “paycheck checkup.” This will help taxpayers check that they are having the correct amount of income tax withheld from their paychecks.

Doing a checkup can help protect against having too little tax withheld and facing an unexpected tax bill or penalty at tax time in 2019. Some taxpayers might prefer to have less tax withheld up front and receive more in their paychecks, which would reduce their tax refund next year.

The IRS encourages everyone to check their withholding as soon as possible, but it’s especially important for these people to use the Withholding Calculator to make sure they have the right amount of tax withheld:

  • Two-income families
  • People with two or more jobs at the same time or who only work for part of the year
  • People who claim credits such as the Child Tax Credit
  • People who claim older dependents, including children age 17 or over
  • People who itemized deductions in 2017
  • People with high incomes and more complex tax returns
  • People with large tax refunds or large tax bills for 2017

Remember, the Withholding Calculator does not ask the user for personally identifiable information, such as name, social security number, address, or bank account numbers. The IRS does not save or record the information the taxpayer enters in the calculator.

More information:
Withholding Calculator Frequently Asked Questions
Withholding Calculator

Share this tip on social media — #IRSTaxTip: Updated Withholding Calculator Reflects Changes in New Tax Law https://go.usa.gov/xQaWc

Things to Remember when Considering Early Withdrawals from Retirement Plans

Many taxpayers may need to take out money early from their Individual Retirement Account or retirement plan. Doing so, however, can trigger an additional tax on early withdrawals. They would owe this tax on top of other income tax they may have to pay. Here are a few key points to know:

  • Early withdrawals. An early withdrawal is taking a distribution from an IRA or retirement plan before reaching age 59½.
  • Additional tax. Taxpayers who took early withdrawals from an IRA or retirement plan must report them when they file their tax return. They may owe income tax on the amount plus an additional 10 percent tax if it was an early withdrawal.
  • Nontaxable withdrawals. The additional 10 percent tax doesn’t apply to nontaxable withdrawals, such as contributions that taxpayers paid tax on before they put them into the plan.
  • Rollover. A rollover happens when someone takes cash or other assets from one plan and puts it in another plan. They normally have 60 days to complete a rollover to make it tax-free.
  • Exceptions. There are many exceptions to the additional 10-percent tax. Some of the rules for retirement plans are different from the rules for IRAs.
  • Disaster Relief. Participants in certain disaster areas may have relief from the 10-percent early withdrawal tax on early withdrawals from their retirement accounts.
  • File Form 5329. Taxpayers who took early withdrawals last year may have to file Form 5329,  Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, with their federal tax returns.

Use IRS e-file. Early withdrawal rules can be complex. IRS e-file can help. It’s the easiest and most accurate way to file a tax return. The tax preparation software that taxpayers use to e-file will pick the right tax forms, do the math and help get the tax benefits they’re due. Seven out of 10 taxpayers qualify to use IRS Free File tax software. Free File is only available through the IRS website.

Additional resources:

Interactive Tax Assistants:

Phone Scams Pose Serious Threat; Remain on IRS ‘Dirty Dozen’ List of Tax Scams

IRS YouTube Videos:

WASHINGTON — The Internal Revenue Service reminded taxpayers to be careful with continuing aggressive phone scams as criminals pose as IRS agents in hopes of stealing money. These continuing phone calls remain a major threat to taxpayers and remain on the annual IRS “Dirty Dozen” list of tax scams for the 2018 filing season.

During filing season, the IRS generally sees a surge in scam phone calls threatening such things as arrest, deportation and license revocation if the victim doesn’t pay a bogus tax bill. In a new twist being seen in recent weeks, identity thieves file fraudulent tax returns with refunds going into the real taxpayer’s bank account – followed by a phone call trying to con the taxpayer to send the money to the scammer.

The Dirty Dozen is compiled annually by the IRS and lists a variety of common scams taxpayers may encounter any time during the year.

To help protect taxpayers, the IRS is highlighting each of these scams on 12 consecutive days to help raise awareness. The IRS also urges taxpayers to help protect themselves against identity theft by reviewing safety tips prepared the Security Summit, a collaborative effort between the IRS, states and the private-sector tax community.

How Do the Scams Work?

Con artists make unsolicited calls claiming to be IRS officials. They demand that the victim pay a bogus tax bill. They convince the victim to send cash, usually through a wire transfer or a prepaid debit card or gift card. They may also leave “urgent” callback requests through phone “robo-calls,” or send a phishing email.

Many phone scams use threats to intimidate and bully a victim into paying. They may even threaten to arrest, deport or revoke the driver’s license of their victim if they don’t get the money.

Scammers often alter caller ID numbers to make it look like the IRS or another agency is calling. The callers use IRS employee titles and fake badge numbers to appear legitimate. They may use the victim’s name, address and other personal information to make the call sound official.

The IRS also reminded taxpayers today that scammers change tactics. Aggressive and threatening phone calls by criminals impersonating IRS agents remain a major threat to taxpayers, but variations of the IRS impersonation scam continue year-round and they tend to peak when scammers find prime opportunities to strike.

The Treasury Inspector General for Tax Administration (TIGTA) reports they have become aware of over 12,716 victims who have collectively paid over $63 million as a result of phone scams since October 2013.

Here are some things the scammers often do, but the IRS will not do. Taxpayers should remember that any one of these is a tell-tale sign of a scam.

The IRS Will Never:

  • Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail a bill to any taxpayer who owes taxes.
  • Threaten to immediately bring in local police or other law-enforcement groups to have the taxpayer arrested for not paying.
  • Demand that taxes be paid without giving taxpayers the opportunity to question or appeal the amount owed.
  • Ask for credit or debit card numbers over the phone.
  • Call you about an unexpected refund.

For Taxpayers Who Don’t Owe Taxes or Don’t Think They Do:

  • Do not give out any information. Hang up immediately.
  • Contact TIGTA to report the call. Use their IRS Impersonation Scam Reporting web page. Alternatively, call 800-366-4484.
  • Report it to the Federal Trade Commission. Use the “FTC Complaint Assistant” on FTC.gov. Please add “IRS Telephone Scam” in the notes.

For Those Who Owe Taxes or Think They Do:

  • Call the IRS at 800-829-1040. IRS workers can help.

Stay alert to scams that use the IRS as a lure. Tax scams can happen any time of year, not just at tax time. For more information visit Tax Scams and Consumer Alerts on IRS.gov.

Taxpayers have a set of fundamental rights they should be aware of when dealing with the IRS. These are the Taxpayer Bill of Rights. Explore these rights and the agency’s obligations to protect them on IRS.gov.

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Local IRS Offices

York
2670 Industrial Hwy, York, PA 17402
Monday-Friday 8:30am - 4:30pm
(Closed for lunch 12:30pm - 1:30pm)
(717) 757-4977

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228 Walnut St, Harrisburg, PA 17101
Monday-Friday 8:30am - 4:30pm
(Closed for lunch 12:30pm - 1:00pm) (717) 777-9650

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1720 Hempstead Rd, Lancaster, PA 17601
Monday-Friday 8:30am - 4:30pm
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(717) 291-1994










NATP

National Association of Tax Professionals