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Millions of taxpayers continue to struggle with delays in refunds from the IRS, a new tax advocate report says. ... which must pay interest on overpayments it doesn't refund on a timely basis, the ...
According to filing season statistics reported by the IRS, the average tax refund in the 2024 tax season—for tax year 2023—was $3,138. Almost 105 million tax refunds were processed by the end ...
The average federal income tax refund in 2024 was $3,138 based on IRS data through Dec. 27, down 0.9% from the same period in 2023.
An overpayment scam, also known as a refund scam, is a type of confidence trick designed to prey upon victims' good faith.In the most basic form, an overpayment scam consists of a scammer claiming, falsely, to have sent a victim an excess amount of money.
President Donald Trump has issued a slew of executive orders (EO) since beginning his second term, including one that may have an impact on your tax refund.One of Trump’s EOs initiated a hiring ...
Equitable recoupment is a judicially created defense most commonly applied in legal cases in the federal and state tax systems of the U.S.. [1] [2] This doctrine can allow, under specific circumstances, the government to defeat a refund claim or a taxpayer to avoid an assessment on the basis of a past underpayment or overpayment that is outside the statute of limitations period.
The latest data from the Internal Revenue Service (IRS) agency shows that the total amount refunded to taxpayers by IRS through 2023 will be approximately $198.9 billion, which is $23.5 billion less than in 2022. That equates to an average refund of $2,878 — or $297 less per person than last tax season. [5]
If your bank information is all in line, the next step is to call the IRS Refund Hotline at (800) 829-1954 — but only if your filing status is anything but married filing jointly.
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