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Why Is The IRS So Slow To Send Refunds This Year?

 

February 28, 2012

If you are one of the millions of Americans who filed earlier this year, in the hopes of receiving your refund quickly, you probably had to wait much longer than expected. You may not believe this, but the IRS is making you wait for YOUR protection and benefit.

I know, sounds crazy, but it will make sense in a moment.

Over the last few years, identity theft has become a major problem for the IRS and taxpayers who receive refunds.  Criminals have been filing false returns to steal your legitimate refund.

Here’s how the scam works: A “fake return” is filed electronically with your personal information, and shows low income and high deductions. Then when you file your return, it will be rejected by the IRS because (supposedly) you have already filed!

If you are a victim of this crime, it usually takes about 10-14 months to clear everything with the IRS. A simple way to the stop the criminals before they start, is to make sure you OWE the IRS rather than overpaying during the year.

The IRS has been diligent in tracking down ID thieves and they have arrested hundreds of people across the nation. That's why the refunds have been delayed. Last year, the IRS was able to stop $1.5 billion in false refunds. Unfortunately, that number represents only a small percentage of the total amount of tax refund fraud.

I know no one likes to wait for their refund, but for once, the IRS’s delay is for YOUR benefit and protection.

Think of the delay this way…Would you rather wait an extra week or two for your refund…or spend the next 10-14 MONTHS trying to clear your account with the IRS if your identity and refund are stolen?

 
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