2020 Fed Tax Refund Received!

karen1972 said:
This is the first time my refund has ever been held up. Electronically filed immediately after the ACA update was fixed in the tax software, it was processing and the converted to "still processing" mode which I assume means something triggered a further look. Been checking the mail box wondering if they needed something. Not sure if there is a set amount of time one should wait before calling given how backlogged they are.
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I also filed right after ACA update in Turbo tax. Just this morning, 'check my refund' reports refund approved, and should be deposited this week. I had strange results this year via Turbo tax, $1 penalty? Due to estimated taxes late I guess, though think I did that right but honestly well worth $1 not to have to fill in form 2210. And the ACA no clawback of tax credit seemed like it might trigger some kind of extra IRS time. I hope you have some positive info on your refund status.
 
Making a little more progress. "Where's my Refund" now says my refund is approved and a check will be mailed to me next week. It is for a tiny bit (0.5%) more than I expected, so either I made a mistake somewhere or it includes some interest.
 
Also today saw refund approved, after filing in April when the ACA update was done. They must have processed a big batch of those.
 
Aw man I was super excited seeing all these posts, so went to check, no such luck. Hopefully next week.
 
Gumby said:
Making a little more progress. "Where's my Refund" now says my refund is approved and a check will be mailed to me next week. It is for a tiny bit (0.5%) more than I expected, so either I made a mistake somewhere or it includes some interest.
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I would bet that the tiny bit more is equal to 3% non-compounded interest on your refund amount starting April 15th.

ETA: In fact, 3% / 0.5% = 6. 12 months / 6 = 2 months. Two months after April 15 is June 15th, which is next Tuesday.
 
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SecondCor521 said:
I would bet that the tiny bit more is equal to 3% non-compounded interest on your refund amount starting April 15th.

ETA: In fact, 3% / 0.5% = 6. 12 months / 6 = 2 months. Two months after April 15 is June 15th, which is next Tuesday.
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Ours is also a tiny bit more...I have not done the math yet but the above sounds right.
 
Gumby said:
Making a little more progress. "Where's my Refund" now says my refund is approved and a check will be mailed to me next week. It is for a tiny bit (0.5%) more than I expected, so either I made a mistake somewhere or it includes some interest.
Click to expand...
I finally received my refund check today. The extra 0.46% was indeed interest. I initially mailed my return in on 2/19.

Even more good news now that they have finally processed our return is that we may now get the $1400 third stimulus payment, since we qualify based on 2020 income, but did not based on 2019. If I recall correctly, there is some kind of true up mechanism to make that happen.
 
4legsgood said:
I also filed right after ACA update in Turbo tax. Just this morning, 'check my refund' reports refund approved, and should be deposited this week. I had strange results this year via Turbo tax, $1 penalty? Due to estimated taxes late I guess, though think I did that right but honestly well worth $1 not to have to fill in form 2210. And the ACA no clawback of tax credit seemed like it might trigger some kind of extra IRS time. I hope you have some positive info on your refund status.
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I filed right before it was corrected and thought I might have to file an amended return. I was thrilled to get a refund today for the corrected subsidy credit without having to do a thing. Whew!
 
Receiving my 2020 refund was much more anticlimactic than I expected. I filed electronically on Feb 18th. I received a letter from the IRS in May wanting me to confirm my identity online (which I did). My refund hit my checking account on June 18th. The refund was small, but the reason I wanted to see it was to get confirmation that everything I did on my tax return was correct. 2020 was my first year of full retirement, which included a lot of financial first for me (converting funds from IRA to Roth, self funded HSA, paying quarterly taxes, etc.). I thought when/if I received the refund I would have this huge feeling of relief (that everything I did tax wise was correct). no such feeling and no one else (including DW) cared. Sharing on here is about as much celebration as I get. Woohoo.
 
Sent mine in on 3/19, and still no acknowledgement that its been received. Tried calling but the number that I used to use to get a live person but it has now changed so you can only use it if you have filed a 1040X that they have a record of.

Would anyone please share the number and prompts they used to get a live person?
 
We electronically signed ours on 6/16, just under the wire of the extension the CPA had filed. As soon as I signed, I went to the mailbox and it was a bit of a surprise to find a refund check from the IRS. Now that is efficiency!

Turns out our CPA had accidentally filed an incorrect, unapproved and unsigned version a month earlier. She had some details wrong like we hadn't actually wanted the refund check at all, we wanted it rolled to cover Roth conversions we will make in 2021. Put us in a bind on the estimated taxes. So we won't be using that CPA any more.
 
IRS.gov website still says "being processed", but a new things has happened. I got a letter from the IRS asking me to either go online, or call, or go in person to an IRS office, to "verify my identity" before they can issue my refund. I tried going online and it has a lot of intrusive questions, even asks for the last 8 numbers in a credit card. Didn't want to give out that info, so I tried calling the phone number instead, which doesn't require giving out the credit card number, and it always says "due to extremely high call volume, please try later". I've tried 5 times already, same thing. Thought I would try the online version again, since there was an option to use a mortgage account instead of your credit card number. Now it wants me to create an account with the IRS, which I do not want to do. So I am back to phoning in and getting the "call back later" response. Sigh. I would hate to bother an IRS rep in person, but maybe I will do that. I just hope they don't insist on having the last 8 numbers of my credit card. Or make me create an account with them.
 
Well, after 47 calls over the last 4 workdays, I finally got through to a human at the IRS using the instructions in the link provided by NM_MIKE. Thanks NM_MIKE! They still don't have a record of receiving my return, but they instructed me NOT to send it in again. If they don't receive it after an unidentified period of time, I was told I will get a letter requesting me to re-send it in at that time. All I can do at this time is forget about it for awhile.
 
I'm seriously considering doing nothing at this point, except waiting, for my $600 stimulus payment. Even though the IRS says I have to verify my identity, for a check in my name, mailed to my address, that hasn't changed in years. Maybe in about 12 months from now, they will say "hey, who's this guy who wants $600?" and verify my identity themselves, and just mail me the check. One can hope. Or, plan B, which just wait for 6 months until they finally answer the phone!
 
OMG, I just checked and it shows my refund has been approved!
It says "Your tax refund is scheduled to be sent to your bank by June 30, 2021."

My taxes were e-filed on March 26th.
 
Well, for those following my plight, here's an update:

Thursday of this week the IRS site showed they were finally "processing" my return, and Friday it showed "refund approved". That has to be the fasted time I've ever seen between processing and approved, especially for a 20 something page, somewhat complex return, but I'm not complaining.

So, for those still waiting, hang in there, there is hope.
 
I file my taxes using Turbo Tax each year. I file a federal, Vermont and California return. This year I expected and received refunds from VT and CA. I filed for a significant refund from the IRS, half of which I asked they apply to my 2021 taxes and the other half to refund to my bank account. I filed the federal return 3/14 and received an acceptance on 3/16. Since then, I’ve received nothing and using IRS2Go I get the standard reply - "still processing you will receive a refund date later”.

After I filed, I received a late K1 from an inheritance. I ran the amended returns in Turbo Tax and estimate I will owe $151 to VT, $46 to CA and $1,671 to the IRS (which is less than half the refund I filed for originally). I read in Turbo Tax that I shouldn’t file amended returns until I receive the responses to the original filings. I haven’t yet filed any of them.

I’m thinking that I should file the amended returns for the two states and still hold off on the federal. Do you agree?
 
They may be having problems getting the refunds mailed/deposited, but they managed to cash my check in less than a week.
 
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