I was finished checking the 1040SR return to see 1) it was math correct 2) how did it agree with the online tax program. Wrapped it up and was ready to do the state return when we get another IRS notice.

"Because our refund to you was so late last year, we're paying interest on it and now you get to do your taxes over again." We did not receive that before Jan 31st, for which there is a law (frequently flouted.)



Oh well it's just refiguring the interest earned form which probably won't trigger anything, but jeez.

At least we didn't send ours in yet. I'm betting somebody here did - and it could trigger a delay. That's the kind of thing we had last year, a difference of opinion over "clear language" where Uncle Sam says "you're never right, embrace the suck."

Grrr.

"Just log into www.irs.gov" - lot's of information there - NOT!!!

quote:

Originally posted by LS1 GTO:
"Just log into www.irs.gov" - lot's of information there - NOT!!!

Or call, they're very helpful

quote:

Originally posted by Tirod:
We did not receive that before Jan 31st, for which there is a law (frequently flouted.)

The IRS requires most tax documents to be mailed out by 1/31. (They don't have to be received by 1/31.)

And some tax documents have an even later required mailing date, such as 2/15.

Hardly much with interest rates the way they are.

I remember a few years back the .Gov was still looking for experienced Cobol programmers as some of their legacy systems were over 25 years old.

Yet humans still have to physically handle returns.

You'd think there would be a way to clean that up and reduce fraud at the same time. I can think of one.

No income tax.

quote:

Originally posted by BigSwede:

quote:

Originally posted by LS1 GTO:
"Just log into www.irs.gov" - lot's of information there - NOT!!!

Or call, they're very helpful

I received a letter claiming I received the second stimulus payment (last year). After spending the weekend looking through mine and my wife's account for with a direct deposit or a cashed check for the amount, I called the number provided - twice.

Both times I called (58 minutes on hold the first time 1h 10m the second, i was transferred to another line. It went like this:

Ring, Ring. [automated recording] All agents are busy. Please call back later.[/automated recording] Click

No option to wait or provide a call back number. Just the disconnection

We received our federal refund for last year, just a month ago - direct deposited on 1/3/22. It included a little bit of interest. We have already filed our 2021 taxes last week, but didn't adjust anything, since the last refund posted THIS year. Does this mean that we're ok, and will just need to include the interest income next year when we file?

Just let them catch it in audit. They will spend much more looking than they will get and you will know your audit was professionally checked.

^^^^^^^^^^^^^^^
As above. Filing an amended return invites scrutiny with small amounts of money.

If they know how much we owe, why can't they just tell us how much we need to pay and do away with the need for preparing our own documents only to be told we missed something or a new document becomes unearthed?

Alas, that's about as likely as cutting wasteful spending and enabling us to keep more of our money.

Filed 2020 tax return last March and received my refund today with about 2.5% interest (assuming they made no changes to my math). Checked the IRS website periodically to see if any status on that return showed up and never got any info. Didn’t want to waste my time calling so I never did. It was looking like I would be filing my 2021 return before getting last year’s refund but at least today’s deposit eliminated that possibility.

Then you get to pay tax on the interest earned.

quote:

Originally posted by ElToro:
Then you get to pay tax on the interest earned.

True, but I won’t be worrying about that until next year.

^^^^^^^^^^^^^
Interest is minimal. Penalties are not. For example not taking the full Required Minimum Distribution is a 50% penalty.