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Current estimates are that about half of all returns filed between 2/2 and 2/7 have not yet been released by the IRS to a nationwide IRS computer problem. The refunds released today by the IRS included only a small number of refunds that were filed in the first week of the month.
What the IRS is saying: The IRS has a button at the top of IRS.GOV that says “I’m waiting for my refund”. When a taxpayer clicks this button, they go to Where’s My Refund and see an IRS message that explains “We are aware that some taxpayers who have filed electronically and received an acknowledgment from the IRS are concerned when the visit Where’s My Refund and are told that we have no information regarding their return. This is a temporary situation, and we expect to resolve the matter in a few days.”
It appears that up to 70% of the taxpayers still waiting for their refund who filed in the first week of February are not found in the IRS Where’s My Refund. This leads these taxpayers to incorrectly believe that their return was not filed. In addition, a small number of taxpayers are seeing a message that their refund was released when in fact it was not. In these situations, we have found that if taxpayers return to Where’s My Refund in a few days, they will see a different message and that this new message (which will now be correct) will either show that their refund was not released or give the taxpayer a new future release date. It is difficult on all of us when the IRS does not show correct information on Where’s My Refund.
This coming Monday is a federal holiday. As a result, unfortunately, the IRS will not release any refunds to any banks on Monday. As of today, looking at statistics of tax returns filed, here are some statistics from feb:
– for returns filed on 2/1, approximately 10% have not yet been released by the IRS.
– for returns filed on 2/2, approximately 50% have not yet been released by the IRS.
– for returns filed on 2/3 – 2/4, approximately 60% have not yet been released by the IRS.
– for returns filed on 2/5 – 2/9, approximately 40% have not yet been released by the IRS.
– for returns filed on 2/10, approximately 50% have not yet been released by the IRS.
– for returns filed on 2/11, approximately 60% have not yet been released by the IRS.
– for returns filed on or after 2/12, the IRS has released only a small number of returns
