A cycle code is an 8 digit code found on your account transcripts. The cycle code indicates the day your account was posted to the IRS Master File. This date indicates the 4 digits of the current cycle year, two-digit IRS cycle week, and two-digit processing day of the week. Cycle Code Breakdown Example: 20180903…
Tag: return
The Internal Revenue Service today advised taxpayers about steps they can take now to ensure smooth processing of their 2017 tax return and avoid a delay in getting their refund next year. This is the first in a series of reminders to help taxpayers get ready for the upcoming tax filing season. Gather Documents The…
The fiscal year 2018 budget plan the House Budget Committee approved in July calls for a radical change in the Earned Income Tax Credit (EITC) that could harm millions of low-income working families and cause serious problems for the IRS in processing tax returns. The budget would delay EITC payments indefinitely each year until the…
Getting your tax return rejected by the IRS can mark the outset of a serious freak-out session. Thankfully the process of correcting and re-submitting your return often turns out to be fairly painless. Once you file your annual tax return, the IRS can reject it if it contains conflicting information. If the IRS rejects your…
The Internal Revenue Service announced Monday that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million individual tax returns expected to be filed in 2017.…
Here’s the latest on Filing Early before Jan. 29, 2018 Tax season opens in about a week. On Monday, January 29, 2018, the Internal Revenue Service (IRS) will begin accepting individual electronic returns and processing paper tax returns. Not today. Not tomorrow. January 29, 2018. Advertisement Some tax preparers are suggesting in ads and on…
Illegal ways people are Cashing in on Bigger Tax Credits Advertisement Most people who want to cheat on their taxes will do anything they can to understate their income. After all, the more money you make, the more money you’ll likely owe. But there’s at least one scam where an unscrupulous tax preparer will try…