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Please remember that today is a federal holiday. As a result, the Federal Reserve System is closed today and IRS will not be releasing any refunds today to anyone. Also, due to the holiday, the Federal Reserve does not allow money to move within the banking system today. As a result, we are unable to process any tax preparation fee payments today.
Estimates are that up to half of all taxpayers who filed between 2/2 and 2/7 across the nation have not yet had their refund released by the IRS. We reported last week that the IRS “Where’s My Refund” was not displaying any information at all on most taxpayers affected by this latest nationwide computer problem at the IRS. For the past week, the IRS problem was incorrectly leading these taxpayers to think that their tax return was not filed even though it was actually filed. Over the weekend, however, for many of these taxpayers, “Where’s My Refund” had an updated message. On Saturday, many of these taxpayers had an updated message showing that their refund would be released in early March. By Monday, many of these same taxpayers had yet another updated message the IRS, this time showing an estimated date for their refund of either 2/23 or 2/24. Based on information we are receiving, many of the taxpayers who were affected by this nationwide refund problem at the IRS should receive their refund this Thursday or Friday.
