If you recognize the name Intuit, you’re probably one of the 40 million people who filed returns last year using its TurboTax software. Facing competitors ranging from storefront tax preparers to free (for now) preparation through a credit report website, the company’s CEO is optimistic about the future. [More]
tax refunds
If You’re Relying On Your Tax Refund, IRS Warns It May Come Late This Year
By 1.10.17
There are just a few weeks left until tax preparation season kicks off, and today the Internal Revenue Service had some bad news for families that receive the earned income tax credit or the additional child tax credit: they will not receive their tax refunds until the end of February. [More]
New Payroll Fraud Variation: Scammers Gain Access To Corporate ADP Accounts
By 5.3.16
In recent months, we’ve seen a scam aiming to social engineer payroll information out of employees hit well-known companies like Snapchat and Seagate. The fraudsters’ goal is to get employees’ personal information and salary data, and file tax returns to collect refunds under their names. Now the tax scammers have found the ultimate source of payroll data: they’re able to access some companies’ accounts with payroll processing company ADP. [More]
IRS Waiting On 1 Million Taxpayers To Claim Almost $1B In Refunds From 2012
By 3.10.16
Because we know our readers aren’t the type to pass up free money, now would be a good time for you to check and make sure you claimed your 2012 tax refund: according to the Internal Revenue Service, about a million taxpayers have yet to collect almost a billion dollars in federal refunds from that tax year. And the clock is ticking. [More]
ID Thieves Attack IRS Website Using 460,000 Stolen Social Security Numbers
By 2.10.16
One of the worst things an identity thief can do with a stolen Social Security number is use it to then claim that person’s tax refunds. The Internal Revenue Service has revealed that ID thieves recently tried to attack IRS.gov in an effort to cash in on 460,000 stolen SSNs. [More]
NYC Mailman Accused Of Stealing More Than $1M In Tax Refunds In Years-Long Scheme
By 7.2.15
Is there some kind of greedy bug sweeping through the New York City mail system? Okay, probably not, but for the second time in two months a postal employee has been charged by federal prosecutors with taking part in a scheme to pad their own pockets. The most recent case involves a mail carrier who allegedly stole more than $1 million in tax refunds. [More]
Poll: Most People Will Use Tax Refunds To Pay Down Debt, Build Savings
By 3.12.15
Are you expecting a tax refund this year? While making changes to how much tax you have withheld from your paychecks during the rest of the year can get you slightly larger checks all year long, most people keep things as they are and enjoy receiving a windfall at the beginning of the year. What do they do with that refund, though? [More]
Lawmakers In House, Senate Investigating Fraudulent Returns Filed With TurboTax
By 2.17.15
Joining the Federal Bureau of Investigation and the Internal Revenue Service on the case of bogus tax returns filed used Intuit’s TurboTax software will now be lawmakers from both the House and Senate, who have started probing the recent flurry of fraudulent activity. [More]
Ohio Residents May Need To Take “Quiz” Before Getting State Tax Refunds
By 2.11.15
If you’re an Ohio resident and you’re expecting a refund on your state taxes this spring, you might have to go online and take a personalized “quiz” in order to prove you are who you claim to be before you can get your money. [More]
CT Tax Commissioner: Walmart Tax Refund Service Just A Lure To Get You To Shop At Walmart
By 1.29.15
Walmart recently announced a service that allows consumers who use certain participating tax preparers to pick up their refunds at a Walmart store. The program already has one high-profile detractor in the form of Connecticut Commissioner of Revenue Services Kevin Sullivan who says he believes the program is intended to get consumers to spend their refunds at Walmart. [More]
Walmart Lets People Pick Up Tax Refunds In Cash In Stores
By 1.20.15
Happy first day of tax season! Today is the first day that you can file your federal income tax return. Most Americans have to file a tax return, but a substantial number of people still don’t have bank accounts and conduct life in cash. Walmart wants to keep people in that situation away from check-cashing stores…and keep them in Walmart with a great big wad of cash in their wallets. [More]
Hackers Stole Doctors’ Tax Refunds By Breaking In To Payroll Software
By 4.30.14
Last week, we shared the scary news that a ring of tax refund fraudsters appeared to have filed tax returns on behalf of hundreds of doctors and other health care professionals, harvesting their refunds. Early theories were that hackers had used the recent release of federal data about Medicare providers, or obtained a list of doctors. The truth was even scarier. [More]
10 Ways To Not Suck At Spending Your Tax Refund
By 4.21.14
Tax season is finally over, and hopefully you’re one of the lucky ones who is expecting a tax refund rather than one of those who has to send even more money to the IRS. But before you spend that money on a third 72″ LED for your yacht, there are several more sensible ways to use your refund. [More]
Social Security Administration Quits Seizing Tax Refunds To Pay Decades-Old Debt
By 4.15.14
Last week, the Washington Post publicized a disturbing new practice of the Social Security Administration and Department of the Treasury: holding on to taxpayers’ refunds in order to cover old debts. These were decades-old debts, usually Social Security overpayments made to the taxpayer’s late parents. There was an overwhelming negative reaction to the Post story, and people affected contacted their representatives in Congress. Now the Social Security Administration says that they’re ending the practice. [More]
Federal Government Takes Taxpayers’ Refunds To Cover Decades-Old Overpayments
By 4.11.14
In a massive program like Social Security, sometimes people get overpayments ranging from a few bucks to a few thousand bucks. It used to be that if whatever government entity overpaid a family didn’t catch up with them and recoup the money, the statute of limitations on the debt would run out after ten years. A teeny section of the 2008 farm bill changed that, and now the government is snatching up taxpayers’ refunds to cover their dead parents’ decades-old debts. [More]
$917 Million In Refunds Awaits 984,000 People Who Didn’t File Federal Tax Return In 2009
By 3.14.13
A lot of people who fail to file their taxes each year do so because they assume they will have to owe money or won’t be getting anything back. But the IRS says there is nearly a billion dollars in unclaimed returns from 2009, and that it needs to be claimed by April 15, 2013, or it goes into Uncle Sam’s pocket. [More]
IRS: H&R Block Causing Refund Delays After Bungling 600,000 Tax Returns
By 3.12.13
Many of us find the Internal Revenue Service’s income tax return pretty darn difficult to figure out, which is why companies like H&R Block exist — ostensibly, to help customers maneuver the complicated forms and get them a nice tax refund if possible. But it seems H&R finds those forms confusing, too. [More]
Do Not Confuse The Chase Bank ATM With Your Weird And Scary 'Checks'
By 4.5.12
Tom and his wife got married last year (congratulations!) but still have separate checking accounts. Tom never had a problem depositing checks also made out to his wife in his Chase checking account, so he didn’t foresee any problems with depositing their joint $2,000 tax refund check in that same account. But this is The Consumerist, not Satisfied Chase Customers Weekly, so you can guess how that turned out. Now Tom and Mrs. Tom get to wait patiently and hope that the check doesn’t get lost in the mail on its way back to them. [More]
