IRS Delay

S

sleepery

Joined
Jun 19, 2009
Messages
346
Location
NY
I received a letter from the IRS stating that they need an additional 60 days to process my refund .
I filed prior to April 15th.
If they pay interest on this I have heard that they will issue a form 1099 INT for interest of ten dollars or more .
I use H&R block and read that they charge $350 for the 1099.
That is crazy to pay that fee for $10 .
Does anyone know if you can refuse to accept the interest from the IRS ?

I hope I am mistaken on the numbers .
 
I think I would talk to H&R Block first…

I have an accountant, but do my own taxes (run the big ideas through him, do the grunt work myself and save a ton of $$). The IRS isn’t big on giving you interest, so I wouldn’t worry about it.

Don’t see how H&R Block is entitled to even a penny of a refund or interest on that refund, unless you signed some really awful agreement with them.
 
sleepery said:
I received a letter from the IRS stating that they need an additional 60 days to process my refund .
I filed prior to April 15th.
If they pay interest on this I have heard that they will issue a form 1099 INT for interest of ten dollars or more .
I use H&R block and read that they charge $350 for the 1099.
That is crazy to pay that fee for $10 .
Does anyone know if you can refuse to accept the interest from the IRS ?

I hope I am mistaken on the numbers .
Click to expand...
A 1099 is just a form documenting income just like a W2. If the IRS issues you a 1099 this year for the interest paid all you have to do is report the interest income on NEXT years Form 1040. I don't know where you heard that H&R Block will charge you $350 if your receive a 1099.

Did you get an advance on last years refund from H&R Block or is the IRS sending the refund to you?
 
I googled H&R Block cost for a 1099 . I hope I don't get a 1099 . I had to pay additional filing fees to H&R Block nearly $200 extra for getting paid for 3 days of jury duty a few years ago . I may not use them next year .
 
So, it looks like HRB charges by the number of 1099, W2, etc.

For me, I just bought the apps and do it myself.
There is no per form fee for DIY.
I have done it since it was branded as TaxCut in the 90s.
It is fairly easy, just follow the instruction and never forget to enter any $ income.
It cost around $20 for a Deluxe version which is sufficient for most people including people needs to do Schedule C.
Online Filing is free up to 5 fillings.

Another option will be TurboTax.
 
I had a complicated tax return and my private CPA charges $300. It had a few 1099DIV, 1099INT, stock sales, short sales, capital gains sales, employee stock incentive options that I exercised.
 
JMJNet said:
So, it looks like HRB charges by the number of 1099, W2, etc.

For me, I just bought the apps and do it myself.
There is no per form fee for DIY.
I have done it since it was branded as TaxCut in the 90s.
It is fairly easy, just follow the instruction and never forget to enter any $ income.
It cost around $20 for a Deluxe version which is sufficient for most people including people needs to do Schedule C.
Online Filing is free up to 5 fillings.

Another option will be TurboTax.
Click to expand...
That's what I do after I got billed $$$$ for my tax returns from my CPA friend. Turbo Tax and lately H&R Tax Cut. Never looked back.
 
Thanks for the replies. I will wait and see what the IRS sends me next year . I will look into the software .
 
JMJNet said:
So, it looks like HRB charges by the number of 1099, W2, etc.
Click to expand...
Imagine someone that had (2) jobs and their spouse had (1) (or more). They're already at $375 in fees just for wages. Best part of H&R is quite a few W2s are "online" now so they input the SS #, FEIN, etc and it downloads all the data and imports it or even in cases where it can't, they can scan the W2 and OCR does the rest. I had 3-4 forms like that that TurboTax import/OCR'd and got all the numbers perfect.
 
Good Grief! The most I ever paid my tax guy for a federal return was right at $100, and that was for 2 W2s (mine and my wife's), about 6 1099s, and deductions information. Granted that was 10 years ago, but still. I'm sure with inflation, that amount would now be somewhere between $150 - $200, which I think is reasonable.
 
I always file early to prevent fraudulent return. Basically if someone has my info from doctors office, dentist, etc.... I get to Uncle Sam first even though I have to pay yearly.
 
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