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5 Ways to Protect Yourself Against Tax Refund Fraud

FICO

This year the Internal Revenue Service (IRS) will start accepting 2020 tax returns on February 12 , about two weeks later than usual. That’s positive news—because you definitely want to file your tax return as soon as possible, particularly if you’re claiming a refund. Why is that important? File early.

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IRS Sends Refund Interest Checks To 13.9 Million Taxpayers

PYMNTS

Department of the Treasury and the IRS are planning to send out interest payments totaling $18 on average to 13.9 million Americans who filed their tax returns in the last few months, according to a press release. Interest is paid at the legally prescribed rate, adjusted quarterly, according to the release.

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IRS Corporate Audits Drop 71 Pct, Individual Audits Fall 65 Pct

PYMNTS

The number of tax audits on corporations plunged amid the pandemic, with the IRS saying in the National Taxpayer Advocate’s “Objectives Report to Congress” report for Fiscal Year 2021 that it began 716 corporate examinations from April 1 to June 1 this year compared to 2,445 during the same time last year, a 71 percent drop.

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Credit Karma To Advance Tax Refunds For Free

PYMNTS

citizens who file their tax returns through Credit Karma Tax to get a $500 to $1,000 advance on their tax refund with no fees or interest. The clients can get access to the funds as quickly as 24 hours after the IRS accepts the tax return.

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It’s Tax Day, But Paper Filers Might Not See Their Refunds Until 2021

PYMNTS

Today (July 15) is Tax Day , and despite it coming three months later than normal due to COVID-19, several million Americans will be scrambling to get their returns (or at least their applications for extensions) out the door by midnight. Those returns don’t present much of a challenge during the pandemic.

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Will COVID And Fraud Finally Kill The Paper Check?

PYMNTS

Consider the roughly 200 Rhode Islanders who recently received tax refund checks signed by Mickey Mouse and Walt Disney. The majority of the misprinted checks were sent to businesses receiving corporate tax refunds. Not surprisingly, the affected IRS employees are none too pleased. Case in point are the roughly $1.4

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Death And Taxes: One Is Becoming Much More Digital

PYMNTS

After the holiday season comes tax season — everyone’s favorite time — but at least the payment of taxes, along with the tax refund process, promises to become even more digital this year. And digital payers are striving to win more business from tax filers this year. Rise of Quicker Payments. New Products.