Browsing all articles from March, 2013

The deadline for filing your 2009 Income Tax Refund is steadily approaching.

The IRS deadline for claiming 2009 Income Tax refund checks is April 15th, 2013. You will need to paper file your return by April 15th to claim your 2009 refund checks. This is for federal income tax refunds only.

2009 Income Tax Refund

“Refunds totaling just over $917 million may be waiting for an estimated 984,400 taxpayers who did not file a federal income tax return for 2009, the Internal Revenue Service announced today. However, to collect the money, a return for 2009 must be filed with the IRS no later than Monday, April 15, 2013.”

“By failing to file a return, people stand to lose more than refund of taxes withheld or paid during 2009. In addition, many low-and-moderate income workers may not have claimed the Earned Income Tax Credit (EITC). For 2009, the credit is worth as much as $5,657. The EITC helps individuals and families whose incomes are below certain thresholds.”

More details available at the IRS website. If you need assistance filing your 2009 Income Tax Return, contact Hot Springs Tax Services for help.

Software glitch delays thousands of taxpayers from getting their 2012 Income Tax Refunds.

2012 Tax Software GlitchThe Internal Revenue Service says 660,000 taxpayers will have their refunds delayed by up to six weeks because of a problem with the software they used to file their tax returns. This is a software glitch in some 2012 tax software.

The delay affects people claiming education tax credits who filed returns between Feb. 14 and Feb. 22.

H&R Block, the tax preparing giant, says that some of its customers were affected but the company has resolved the problem. A limited number of other software companies have also had problems, but IRS spokeswoman Michelle Eldridge declined to name them.


Turbo Tax customers were not affected, spokeswoman Julie Miller said.

The IRS expects to process about 150 million tax returns from individuals, so less than 1 percent will be affected. About 6.6 million taxpayers are expected to claim the education tax credits.

The software problem was on Form 8863, which is used to claim the American Opportunity credit, which provides up to $2,500 to help pay for college expenses, and the Lifetime Learning credit, which provides up to $2,000.

The form includes a series of questions. On some of the questions, if the taxpayer answered “no,” the answer was left blank when the form was electronically transmitted to the IRS.

H&R Block said the forms were filled out correctly but the answers were dropped when the forms were transmitted to the IRS.

“It’s important to note that the tax returns were prepared accurately. The error occurred in e-file processing,” H&R Block said in a statement. “We are communicating directly with our impacted clients to assure them that we are doing everything we can to expedite their returns.”

The IRS has long had a goal of increasing the number of people who file their tax returns electronically. The agency promises faster refunds for people who file electronically and have their refunds deposited directly into bank accounts. Most taxpayers who file this way can get refunds within 21 days, the agency says.

In 2012, nearly 120 million taxpayers electronically filed their federal tax returns with the IRS. That’s about 81 percent of all individual returns.

Taxpayers can check the status of their refund on the agency’s “Where’s my refund?” website. The IRS says the status of a refund is only updated once a day, usually at night. Last month, the agency asked taxpayers not to check the website more than once a day because it was being overwhelmed by eager taxpayers.

 When should you file your 2012 Income Tax Return?

2012 Income Tax Return

The tax law sets deadlines for filing 2012 income tax returns. However, there is room to maneuver, and the time you choose to file depends on your personal situation. Here are some guidelines to help you decide on the best time for you to file your return.

File early


The filing season for 2012 income tax returns officially opened in end of January 2013 when the IRS began to accept electronically-filed returns. Most individuals do not file before the beginning of February in order to receive information returns, such as W-2s and 1099s, which are usually sent to taxpayers at the end of January; this information is needed to complete the return. Read more »