Oddly enough my H&R program says I have to wait for the Feb 15th update.
Federal Tax Form Updates for Tax Preparation Software | H
| Form 8936: Qualified Plug-in Electric Drive Motor Vehicle Credit | Available2/15/2016 |
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IRS tax form for Tesla credit NOT AVAILABLE until Feb 11 Form 8936
- Thread starter Electricfan
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Federal Tax Form Updates for Tax Preparation Software | H
Wow! Well, I guess I take back my statement against TurboTax.
I got a text about 5 minutes ago - the IRS has accepted my return. I can't imagine why H&R Block worked for me and not for you. I used the online version - I didn't buy a box at the store and bring it home and install it. Also, I just used the standard deduction - nothing complex about my return. I'm mystified.
I only tried H&R Block because somebody responded that it worked for them - and now its worked for me but not for you. Also, somebody responded saying they had a super version of TurboTax and it worked for them.
I guess the moral of the story is, online Tax prep isn't all the way there yet.
cpa
Active Member
You are welcome, Max! I will let you and all the readers of this thread in on a little secret: The Internal Revenue Service has a sequence of events that leads to the issuance of an individual's income tax refund. The timing may have changed in recent years, but in general the Service collects all returns filed from sometime late Tuesday morning (not sure of the exact time) until the following Tuesday morning and then submits them for further processing and refunds. (I think they refer to this as the drain.) Once all the returns have been drained, refund requests are placed into the system. Direct deposits get deposited the following Friday (ten days later,) while paper checks take about a week longer.
So the upshot is--it makes no difference whether your return is accepted Wednesday night or Friday afternoon. You won't get your refund any sooner. But a return that is accepted Monday night will receive their refund a week sooner than one that is accepted Tuesday night.
Caveat: This was my understanding about a decade ago. Things may have changed in the interim.
I filed after you and I got my refund before you, should have stuck with TurboTax
Maybe! Glad we both got our tax credits though. No reports of stealing them this year, at least that I've heard.
