Enos Tax Service

Today, January 27, 2025, is the first official day for the Internal Revenue Service to start accepting your 2024 tax returns.

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IRS destroys 30 million tax documents, insists ‘no negative taxpayer consequences’ An audit of the Internal Revenue Service found staffers destroyed 30 million taxpayer documents as the service faced a massive backlog.

Second Stimulus Payment Update
(Forwarded message)

We continue to have regular discussions with IRS leadership about the re-processing status of stimulus payments that were initially sent to the wrong/closed accounts earlier in January. Our communication with the IRS on January 21 confirms that they still intend to re-issue payments at the end of January. Here are some additional notes:
The IRS will re-issue payments to the millions of filers affected by this issue.

Deposits should hit around the end of next week (Jan 29) and middle of the following week (Feb 3).

If the IRS is able to determine that a taxpayer’s ultimate bank account (UBA) on file no longer exists (for example, the taxpayer closed their personal account), the IRS will send a check instead.

Checks will be prepared for distribution next week; the timeframe for printing and mailing checks was not provided.

Once the IRS has re-issued all payments, the Get My Payment (GMP) Tool will be updated with the last 4 digits of the correct account number. In addition, if the IRS intends to send a check, this will be reflected in the GMP Tool. We expect GMP to be updated around January 29.

Important: If a re-issued deposit fails for any reason, the stimulus money should be claimed through the Recovery Rebate Credit when filing the 2020 tax return.

If we receive any additional information about the timing of these re-issued payments, we will pass it along.

PATH Act Update (unrelated to stimulus payments): Refunds on filed tax returns that fall under the PATH Act will be released starting February 16, with anticipated refund deposit dates no earlier than February 27.

2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic | Internal Revenue Service IR-2021-16, January 15, 2021 — The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.

Stimulus Payment Update:::

The IRS has been sending out the second round of stimulus payments. Unfortunately, the IRS made a mistake and sent millions of payments to the wrong accounts. Surprise. Because of this, many taxpayers, possibly including our clients, have not received their payment.
The tax software industry, our bank partners, and the IRS are working to get this money distributed to affected taxpayers as soon as possible. As announced today, the IRS is taking immediate steps to redirect stimulus payments to the correct account for those affected. It is anticipated that many taxpayers will receive payments following this effort.
For taxpayers who checked 'Get My Payment' and received a response indicating a direct deposit was to be sent to an account they do not recognize, the IRS advises them to continue to monitor their bank accounts for deposits.
The IRS Newsroom will have the latest IRS updates on this issue:
https://www.irs.gov/newsroom.

Newsroom | Internal Revenue Service Get IRS tax news and sign up for e-News updates. Find information on Form 1040, tax relief, regulations, deadlines, tax guidance and more.

Check the status of your Economic Impact Payment

Get My Payment | Internal Revenue Service Use Get My Payment to get information about your payment status and payment type.

For the people in your life that aren’t required to file a tax return but receive social security: see the section circled in red.

DIRECT DEPOSIT & YOUR STIMULUS PAYMENT: HOW TO SET IT UP WITH THE IRS.

Direct deposit and your coronavirus stimulus payment: How to set it up with the IRS You will be able to get your coronavirus relief check faster through direct deposit into your bank account. Here's how to set up electronic transfer with the IRS.