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where's my refund

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NC is slow cashing checks for 2014 income taxes

As of 5/13/2015, taxpayers are reporting their tax checks have not yet cleared. I called NC and learned they received many more checks just before the April 15th deadline than they have in the past. The deluge of checks is causing a backlog in posting and depositing the checks. So no need to worry yet, NC is slow cashing checks this year.

What can you do?

First look to see if your check to NC has cleared your bank account. If it has not, make a note to followup over the next couple of weeks. If your NC income tax check has still not cleared, it is time to contact NC. If we filed your NC extension and mailed in your check, we have proof of filing and the tracking information from the Post Office showing NC received the extension and check. Let us know if you want us to followup with NC. Remember, the first hour of handling issues of this nature is included in your tax preparation fee.

If you mailed your own payment, hopefully you used certified or registered mail and can prove timely filing and timely payment. You will need this information if you want to request NC waive any penalties. NC’s contact information is available here.

I strongly urge you to give NC at least another week to deposit your check before contacting them.

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Higher average IRS refund so far

U.S. Currency – Wikimedia Commons

The IRS announced on February 20, 2014 that the average refund of $3,211 is up $190 from the same period last year (period ending February 14th). IRS issued 15 percent more refunds this year than last and saw a less than on percent drop in electronic filing.

IRS processed slightly over 38 million returns by February 14. This is up over 7.5 million from the prior year. Perhaps not having last minute income tax law changes by Congress is helping to speed things up. Taxpayers and IRS both have a bit more certainty. This allows IRS to finalize forms and provide guidance earlier. Taxpayers benefit from having more time to understand their filing requirements. If only Congress had not caused the government shutdown last fall, perhaps we would be even further ahead of last year.

You can find the entire report on the IRS’ website.

Wondering where your refund is? You can check with IRS online. The site is only updated once a day, typically overnight so there is no reason to check repeatedly on a particular day.

You can check your NC refund status here.