Tax Return Accepted By Irs, Does That Mean There Are No Problems?
- on 11.07.09
- IRS Tax Problems
- 5 Comments
- Cash Today
- Bad Credit
Hi! I e-filed my tax return, and i received an email that says it has been accepted by the IRS, and my tax refund should be deposited by 4/11/08.
Does this mean that there were no problems or errors with my tax return? Also, how likely is it that the refund will deposit into my account BEFORE 4/11/08? Thanks in advance!
All it means is that they received it and it appears complete, not necessarily accurate. They still have three years to question any amount you reported.
No, it only means that there were no glaring errors such as an incorrect SSN or duplicate SSNs on 2 or more tax returns. Further error checking could delay your refund or result in rejection of your return.
April 11th is the earliest that you could receive your refund. Assuming that you filed on the 28th or 29th your refund would be transmitted by the IRS on the evening of the 10th.
How long it takes to make it to your bank account depends upon your bank now. If they process ACH transactions in real time it would be in your account sometime on Friday the 11th, possibly at the beginning of the banking day. If your bank batch processes at end-of-day (many still do) it would be processed with the Friday night batch job and would therefore be in your account at the beginning of the banking day on Monday the 14th. If you bank with a small community bank or credit union that isn’t on the Fedline system or processes ACH transactions manually it may take an extra few days for the funds to make it to your account.
It just means that they received your return. The IRS runs 2 yrs. behind so they won’t really open your return until then. This only means that their system did not detected any errors in your return. Now, about the refund, you’ll probably will receive it before the 11th. It depends how bussy they are.
It sounds like you went to the IRS web site and checked on your refund. What you have is the date the IRS will transfer the refund to your account.
It mean the IRS has processed the return as filed and is going to issue you a refund based on your numbers on the return. If the refund amount does not match your return then the IRS found errors in your math and corrected the return.
The IRS has three years from the date you file the return or April 15, which ever is later, to audit your return to determine if the numbers you put on the return were allowable and correct.
“Does this mean that there were no problems or errors with my tax return” — No, AND if they find an issue three years from now, they will charge you penalties and interest from the time you filed.
I believe they have up to three years to nail you for any mistakes/errors/omissions.
I have no knowledge of the timeframe to get the refund when e-filing.