IRS Releasing Refunds from the Nationwide Delay
January 31, 2012 – IRS Releasing Refunds from the Nationwide Delay
Refunds that were delayed by the IRS due to IRS nationwide computer problem that occurred last week are now being released. ERC checks related to these refunds are now being released. ERDs are being sent out today as well. For taxpayers receiving an ERD, remember that the taxpayer’s bank may take up to 24 to 48 hours to credit the taxpayer’s personal account. Refund proceeds being placed onto debit cards provided by Refund Advantage will be available by 4pm today.
As previously reported, nationwide computer problems at the IRS caused the IRS to inadvertently delay up to 60 – 70% of refunds expected to be released by the IRS last Thursday and Friday. The delayed returns were primarily filed on January 17 and 18th. The IRS delays were caused by new fraud screening software at the IRS. This refund delay was a nationwide problem that effected every tax preparer across the nation. Returns filed after January 18th were not effected by this delay.