Still Waiting For Your Tax Refund? It Could Take A While
Your tax refund from the IRS of New York may not get back you as soon as you would like.
This is the worst, right? The government is holding your money, and this year it may take a while to get it back.
First, lets talk about the IRS. As you know new tax laws went into effect in 2018, which could delay your refund. According to a CBS 6 story, there is a big 'backlog' of returns at the IRS because of new paperwork created by the new tax laws.
Now here is the funny thing: I submitted my returns on the first day they were accepted - January 28th. And my IRS return actually went against this trend and I had my refund deposited in my account in 8 days! This was great
Where I have been waiting is on my state refund which I submitted the same day. Last year my state refund was in my account within 2 to 3 weeks, but is still being processed at this point. Now I have not read anything alluding to New York state delays this year, but based on personal experience, maybe there is a backlog here too.
Either way, happy filing and change those deductions is you are getting a lot of money refunded! I say keep that cash in your pocket!