• Home
  • Services
    • Audit
    • Small Business Accounting
    • Consulting
    • Estate & Trust
    • Succession & Acquisition Planning
    • Tax Planning & Compliance
    • Valuation & Litigation Support
  • Industries
    • Construction
    • Finance and Leasing
    • Manufacturers and Distributors
    • Healthcare
    • Real Estate
    • Restaurant and Retail
    • Service
    • Nonprofit
  • About Us
    • Mission & Vision
    • Leadership Team
    • Our Firm’s Peer Review
    • Recognition
  • Careers
  • Resources
    • Blog
    • Succession Planning Guide
    • Profit Planning Guide
    • SafeSend Tax Returns
  • Make A Payment
Contact
  • Home
  • Services
    • Audit
    • Small Business Accounting
    • Consulting
    • Estate & Trust
    • Succession & Acquisition Planning
    • Tax Planning & Compliance
    • Valuation & Litigation Support
  • Industries
    • Construction
    • Finance and Leasing
    • Manufacturers and Distributors
    • Healthcare
    • Real Estate
    • Restaurant and Retail
    • Service
    • Nonprofit
  • About Us
    • Mission & Vision
    • Leadership Team
    • Our Firm’s Peer Review
    • Recognition
  • Careers
  • Resources
    • Blog
    • Succession Planning Guide
    • Profit Planning Guide
    • SafeSend Tax Returns
  • Make A Payment
Call Us
Get Directions

Blog


IRS Shortens the Delay for the Education Tax Credit Refund

April 8, 2013 by Stephanie Potash

Good news for tax filers who are claiming refunds from education tax credits.

The Internal Revenue Service has reduced the amount of time it has estimated for processing tax returns claiming refunds from education tax credits.  Originally, in March, the IRS estimated it could take around 4-6 weeks to issue refunds to affected taxpayers who had filed tax returns with Form 8863, Education Credits.  There was a delay because Form 8863 had created new questions as well as programming issues at tax preparation locations.  An estimated 600,000 or more taxpayers refunds were delayed.  The IRS has now reduced the estimated amount of time for processing the delayed return by about 2 – 4 weeks.  And most all taxpayers should receive their refunds by the middle of April.

The IRS released a statement on March 26th, stating “Over the last two weeks the IRS has worked diligently to process tax returns affected by a problem with a limited number of software company products involving some taxpayers filing Form 8863, Education Credits…Due to the special steps the IRS took to help these taxpayers, the work is being completed more quickly than anticipated… Taxpayers affected by this issue can check ‘Where’s My Refund?’ on IRS.gov to determine the status of their refund.  The IRS reminds taxpayers that “Where’s My Refund?’ is usually updated overnight, so taxpayers only need to check the tool once a day.”


Recent Posts

  • Nine financial KPIs construction firms should be tracking
  • How better job costing is the key to unlocking greater profitability for your construction firm
  • Biden Administration Releases Explanations of FY2022 Budget Tax Proposals
  • Lower Business Values Strengthen the Case for Gifting
  • 529 College Savings Plans As An Estate Tool

Categories

  • Accounting
  • Bookkeeping
  • Deadlines
  • Deductions
  • Gordon Advisors, P.C.

Contact Us

248.952.0200

248.952.0290

1301 West Long Lake Road
Suite 200
Troy, MI 48098

Helpful Links

  • Services
  • Industries
  • About Us
  • Leadership Team
  • Careers
  • Blog
  • Newsletter
  • SafeSend Tax Returns
  • Make A Payment
Gordon Advisors

2023 © Gordon Advisors, P.C. | All rights reserved.