March 11?

Will correct the date

If you mean Feb 11 rather than March 11, then you've filed your return extremely early. The processing of e-filed returns is generally all automated but with human spot checks. The inbound processing is not auditing, is not in lieu of audits, or anything of the sort. It's just inbound processing. They verify and compare personal info to prior years, compare 1099, W-2, and other information return info when they can, confirm the balance in the tax payment account, and that's about it. Further screening is done at a later date.

The IRS's IT systems are inadequate and limited, thanks to the sentiments prevailing among elected officials who limit IRS budges but don't realize that an extra $1 spent there produces multiples of dollars back in Treasury receipts.

Anyway, this is quite early on in a tax season for which I've read later filings are expected compared to prior years because of the pandemic. It's like getting to airport security at a time when there are few outbound flights. There's little or no backlog now, it's still months ahead of the deadline. That's likely why your return went through the system quickly.

Mine was simple except for one item I have all the information to complete the tax documents most years by the second week of November. Easy when you actually keep track of things during the year. One of the joys of retirement. Sorry about the March date. Will be interesting to see if the lawn/tree service shows up this next Monday or Monday, March 22.

My return is all finished except for the K-1 that I need. Last year it came after the filing deadline, so I had to file an amended return and mail that in.

I expect that the K-1 will be late this year as well.

I have read that there are still people who filed paper returns on time last year, but those returns have not yet been processed. I never thought to check if my amended return has been processed - I guess I should.

When you don't have information required to file your return, you should extend it, not file it on an incomplete basis thinking you'll amend it later.

When you sign a return and file it, you're saying it is complete based on all info you're aware of. If you know something is missing, it shouldn't be signed.

"I have all the information to complete the tax documents most years by the second week of November."

When numbers on your return are subject to information return filings by payors and recipients you do business with, the IRS doesn't want you to use your own information, it wants you to base your return on the third party information returns. And make appropriate disclosures to declare the right numbers if any of the information returns are incorrect. For things like mutual fund dividends, the funds need to analyze what was received by them and then paid out to determine taxability and dividend status and that's typically communicated with the 1099 forms in January.

If there are unexplained discrepancies or errors between the reports and what's in a return, THOSE trigger audit follow up when that step is done months after the filing season ends.

I think that's the day I did mine too. No refund yet though. First time in a long time i will get a refund. Usually have to pay. I increased my withholdings last year because it just annoys me even more when I still owe more money after they take so much already.

I agree with Jim. I don't let them use my money. I pay what is due, usually close to the due date.

Thanks for reminding me - I just checked and my refund was deposited today 😊

I filed online a few weeks ahead of the deadline and it was submitted automatically on the 12th.

I did what Carolb did, filed way ahead of the day they were accepting them - Feb. 12. Mine still says "received." I've never had my material this early before so got it all done early.

I think I stated I had the information except for one item needed to file in November. I am not stupid as some seem to think to not wait until I have the 1099Rs and Div's before filing. One of the advantages of being retired is that seldom do your pensions change and you can keep a running total of interest and dividends on a spread sheet to check against the 1099s etc. when received.

My income increased quite a bit from 2019 to 2020 due to a much higher annual incentive payment bonus in 2020 compared to 2019. I am waiting to file 2020 taxes until after any stimulus payment is determined assuming that actually happens before April 15. From what I have read they will use the most recently filed tax year to determine eligibility for any additional stimulus payment.

I’m just waiting for some interest slips from my bank. I have everything else organized , photocopied, and ready to enter.

Usually and get my return in the bank within a week of fling.

I'm wrapping up our taxes now (using 1040-SR) and had to use line #30 (Recovery rebate credit). VgQn received a $600 check but I did not (which was odd) so I had to use line 30 to get credit for my $600. It reduced what we owed by that amount.

I received all my various 1099s earlier than ever this year. Submitted our Fed and State forms on 1/27. Fed was accepted 2/10 and State on 2/18. Getting money back from Fed for the first time since the 1980s because of an Energy Tax Credit.

HG because each bank is different I would like to suggest that you check online for your interest slips. Making an assumption that they are what we in the US call 1099's. My bank does not send them.

All countries have some form of information reporting to individuals. Be it wage statements, interest and dividends, etc. The forms have different names and numbers in each country but they're quite similar from one to the next.

In the US, 1099 information reporting forms are required by law and must be issued and sent (when applicable) to recipients by the end of January. The information is also sent (by the payors) to the IRS and usually state tax authorities too, that's due by the end of February and is done mostly electronically these days. If your "bank does not send them", is that because you've opted for paperless statements?

That's funny. I was thinking the same thing about how fast the IRS was this year. But I figured that it was because I OWED this year, something that's never happened before. They snatched that money outta my account so fast,and it made me sneer to think about how it took 3 weeks for them to issue a refund in years past. My return was accepted on Feb 14, my account was drafted on the 16th. I guess the government is efficient when it wants to be,and it wants to be efficient in getting paid.

I was warned by a tax preparer acquaintance of mine that even though I paid them, I should be prepared for several menacing notices from them, claiming that I have not and riddled with threats about penalties and such,because their systems are so painfully outdated, that even though they had the money,their system will show that they do not. If that is true it is so infuriating and sad at the same time. (This person did not prepare my taxes. I do my own)

It does not matter what the regulations are in the US since HG lives in Canada.

My comment was directed to you

And????

Maifleur,

No worries. My bank mails them because I want them to. Most of our reporting slips here must be mailed out by Feb 28 at the latest. Tax filing deadline is April 30 so there is plenty of time.

Got my return today. 2 weeks after they notified me they accepted it. No state return yet.

@Kathsgrdn, check or direct deposit?

Direct deposit

Funny how that works Amylou321.

Well, I'm still waiting. I'd commented five days ago that mine has been accepted. The status hasn't changed. Still waiting...

I just looked at the IRS site out of curiosity. It has a disclaimer. "The Where’s My Refund app may show “Return Received,” even if we’ve already issued your refund. Your refund will not be delayed. There’s no need to call the IRS."

I suspect that my status will remain that way until the status of the last stimulus payment has been verified. I had not received it earlier but it was included in my refund.

I checked my refund status late last night and it still said it was received. Woke up this afternoon and it was in my bank account. Out of curiosity I just checked and IRS still says my tax info was received. Not approved or refunded.

I get a text message from my bank for withdrawals/deposits. Nothing yet.

Return accepted Feb. 11, refund direct deposited in my acc't today, not yet updated on the 'Where'sMyRefund' site.

Amy Lou, you should have had the option to set the date for the direct debit of your balance due when you entered the bank info. I usually set it for the 13th or 14th of April.

Filing a return without all the income and forms which you know may be coming may be considered filing a fraudulent return. When you sign Form 8879 before efiling, you are stating that what the return you are submitting is “true, correct and complete”. If you don’t have everything, file an extension.

edited to add: An extension is an extension to file, not an extension to pay. If you owe, the due date is still 4/15.

Thank you for posting this. (I'm ignoring all posts in-between). I just checked my account and it was deposited overnight!