Monday, February 25, 2013

My tax under review what that mean?

Question by Tameka: My tax under review what that mean?

Best answer:

Answer by vang
If you google tax review you will see thousands of questions like this (especially this year). The reason is because it is not just you.The IRS and your state treasurer have an automated system that picks returns for review even when there are no red flags. You just need to wait for the letter they send you (and if they do not within 2-3 weeks of seeing that “pending review” on their web site you should contact them and ask for direction. Also keep checking sometimes pending review may mean that there has been a miscalculation or math error (which they will certainly fix–which takes time to process).

If you had your taxes prepared professionally take the letter to your preparer so they can clarify what is necessary to receive your refund (and most professional preparers use software that doesn’t allow for math errors). Now if you had your taxes prepared by someone (professionally or not) that does not necessarily mean that they did a bad job, it just means it is your time to have your money held up by the persistent stall tactic that our government agencies use (legally) to hold on to your money a bit longer.
This to me says that our BROKE state doesn’t have the funds to release for all of these returns so they are stalling. Not to mention that probably half of the people who get these letters won’t respond either in a timely fashion or at all and will forfeit their returns.
Source(s):
www.irs.gov
www.michigan.gov

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My tax under review what that mean?

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