Midwest Chick's Place

(A.K.A. Non-Original Rants)

–Co-opting good stuff from all over the ‘Net and maybe some original thoughts—ΜΟΛΩΝ ΛΑΒE

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I think there might be a cash-flow issue at the IRS

 I know the IRS is up to its ass in alligators with all of the mandates for them to be passing out cash to all and sundry as well as illegally releasing billionaires’ tax returns to the press.  

However, I’ve got two people in two different states with two different situations with one thing in common. Refunds.

I’m running about three weeks behind a friend in getting the same letters:

First letter:  We are reviewing your return and may need more information.  We’ll contact you within 60 days.

Second letter (two weeks shy of the 60 day mark): Go to this website and create an account and confirm your information/identity.

Go to the website:  Okay, you are confirmed.  We’ll need 9 more weeks. But you can check after 2-3.

In the meantime, because of my 2019 income vs my 2020 income, I haven’t gotten the $1400 because they haven’t processed my 2020 return.

But the larger, more concerning issue is this:  is the US government having a cash-flow problem such that they cannot pay out tax refunds?  If this is an issue, what aren’t we hearing about?  Who else is going unpaid?  

I’m certain it’s not the new processes/departments put into place to take care of the illegals pouring over the border…..

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Midwest Chick

10 responses to “I think there might be a cash-flow issue at the IRS”

  1. Avatar
    Anonymous

    I filed on March 5th. On March 12th they changed the rules making the first $10,200 of Chink Bug unemployment exempt, meaning the $7700 my wife collected skewed our return. We were due a refund that is now larger. Supposedly the IRS will correct my return automatically and adjust my refund. On the state side, I had to file an amended return on paper and received my refund (which was initially a tax due bill) about a week later.

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  2. Avatar
    Anonymous

    Glypto-I was using a software package that told me to wait until the rules were in place, so my federal return is right. My state return isn't because of the timing of a new law so now I don't get the exemption on state taxes and have to pay part of my refund (which I got within a week) back, but no word on how to do that yet.Let me know if you get the letters I point out in my post. Interested to have a sample size of more than 2.

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  3. Avatar
    Anonymous

    Just plain old governmental incompetence borne out of affirmative action.Be grateful the morons aren't competent. If they were, we'd be well and truly screwed.

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  4. Avatar
    Anonymous

    As !omg as the US Treasury can magically “create” dollars cash flow for. The Fed Gov will never have a “cash flow” problem. The problem….the 80,000# gorilla no one is talking about, is the fact that a US Dollar is now worth approximately ONE CENT when compared to a US Dollar from the year 1900.

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  5. Avatar
    Anonymous

    Stuart–Fingers crossed that you are right.Dan–Yeah, that's something that not even the conservative economists are mentioning.

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  6. Avatar
    Anonymous

    I filed on March 5th. On March 12th they changed the rules making the first $10,200 of Chink Bug unemployment exempt, meaning the $7700 my wife collected skewed our return. We were due a refund that is now larger. Supposedly the IRS will correct my return automatically and adjust my refund. On the state side, I had to file an amended return on paper and received my refund (which was initially a tax due bill) about a week later.

    Like

    Reply
  7. Avatar
    Anonymous

    Glypto-I was using a software package that told me to wait until the rules were in place, so my federal return is right. My state return isn't because of the timing of a new law so now I don't get the exemption on state taxes and have to pay part of my refund (which I got within a week) back, but no word on how to do that yet.Let me know if you get the letters I point out in my post. Interested to have a sample size of more than 2.

    Like

    Reply
  8. Avatar
    Anonymous

    Just plain old governmental incompetence borne out of affirmative action.Be grateful the morons aren't competent. If they were, we'd be well and truly screwed.

    Like

    Reply
  9. Avatar
    Anonymous

    As !omg as the US Treasury can magically “create” dollars cash flow for. The Fed Gov will never have a “cash flow” problem. The problem….the 80,000# gorilla no one is talking about, is the fact that a US Dollar is now worth approximately ONE CENT when compared to a US Dollar from the year 1900.

    Like

    Reply
  10. Avatar
    Anonymous

    Stuart–Fingers crossed that you are right.Dan–Yeah, that's something that not even the conservative economists are mentioning.

    Like

    Reply

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