IRS steps toward a new free-file tax return system have both supporters and critics mobilizing
Plans by the IRS to test a new electronic free-file tax return system next year have got supporters and critics of the idea mobilizing over whether the government should set up a permanent program to help people file their taxes without needing to pay somebody else to figure out what they owe.
3 tax prep firms shared 'extraordinarily sensitive' data about taxpayers with Meta, lawmakers say
Some congressional Democrats say three large tax preparation firms sent โextraordinarily sensitiveโ information on tens of millions of taxpayers to Facebook parent company Meta over at least two years.
IRS gets more relief payments out after delays
The IRS said that after initial problems, it is getting more of the second round of relief payments to taxpayers. (AP Photo/Eric Gay)The IRS said that after initial problems, it is getting more of the second round of relief payments to taxpayers. A number of tax preparation companies said that they were able to resolve the issues. The IRS said Tuesday that it worked over the weekend to help a smaller set of impacted taxpayers and is reissuing payments for eligible taxpayers whose accounts may have been closed. No action is needed for most eligible taxpayers to get the payment.
Still looking for your stimulus? TurboTax says stimulus payments will be deposited Friday
If you are one of several people whose stimulus payment was sent to Turbo Tax or H&R Block because youโve used them in the past to do your taxes, here is an update that might give you some relief. Turbo Tax sent out an email Friday morning letting customers know that their payments would begin to be deposited starting Jan. 8. According to both companies, the IRS sent the payments to temporary pass-through accounts that were set up in 2019 for customers of H&R Block and Turbo Tax to receive tax refunds but no one has access to those accounts anymore. If you donโt get a deposit, a debit card or a check by Jan. 15, you will likely need to claim the payment on your tax return.
Some taxpayers find relief payments sent to wrong account
A number of taxpayers who use tax preparation services, such as H&R Block and TurboTax, say their second relief payments were sent to the incorrect bank account. The IRS and the Treasury Department began issuing the Economic Impact Payments last week of Jan. 1, 2021. (AP Photo/Eric Gay, File)A number of taxpayers who use tax preparation services, such as H&R Block and TurboTax, say their second relief payments were sent to the incorrect bank account, forcing them to wait longer for their money. However, many people said that they checked the IRS site and found their payments were sent to an account they did not recognize. The IRS has said that there is no action required by eligible individuals to receive this second payment.