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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16547
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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What is the longest the IRS can hold your refund without offering

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What is the longest the IRS can hold your refund without offering a challenge?

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

The IRS has three years from the date you file a return to release the return and or ask for additional information.

MyVirtualCPA :

If they hold your return past April 15, it will start to draw interest and the IRS will pay you interest.

Customer:

How much interest?

MyVirtualCPA :

At the market interest rate

MyVirtualCPA :

Right now, it is 3%

MyVirtualCPA :

http://www.irs.gov/uac/Newsroom/Interest-Rates-Remain-the-Same-for-the-First-Quarter-of-2013

MyVirtualCPA :

Do you need anything additional?

Customer:

Anything I can do to expedite matters?

MyVirtualCPA :

You can contact the Taxpayer Advocate

MyVirtualCPA :

http://www.irs.gov/uac/Taxpayer-Advocate-Service-6

MyVirtualCPA :

They are there for this purpose.

Customer:

thanks

MyVirtualCPA :

You're welcome

MyVirtualCPA :

If you would, please rate my response as "excellent" so that I may receive credit for assisting you today

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