Will Your Refund Be Delayed This Year?
There's no faster way to get your refund than TurboTax.*Earlier this year, Congress was late in passing tax legislation relating to the Alternative Minimum Tax (AMT) and certain tax credits. As a result, people who claimed these tax credits, or were subject to the AMT, faced delays in having their tax returns processed while the IRS updated its systems.
As of February 11, the IRS systems have been updated and tax returns are being processed normally, without further delay. Do your taxes and eFile with TurboTax to get your refund in as few as 8 days.*
Will My Refund Be Delayed?
The tax filing delays caused by late updates to the AMT and other tax laws have come and gone. If you eFile your tax return with direct deposit February 11, 2008, or after, you’ll receive your refund in as few as 8 days.
If you claimed any of the following credits and have already filed, the IRS will begin issuing refunds on
February 11:
- Education Credits
- Residential Energy Credits
- Mortgage Interest Credit (very uncommon)
- District of Columbia First-Time Homebuyer Credit (very uncommon)
If you filed early and opted to not claim those credits so you’d get the majority of your refund right away and the rest later, simply sign back into TurboTax to get the rest of your money.
Will I Be Affected by the AMT (Alternative Minimum Tax)?
If you didn’t pay the AMT last year, you likely won’t this year (assuming your tax income has not significantly increased). If you’re unsure, TurboTax will walk you through step-by-step to see if you’re affected. What is the AMT?
What Should I Do Next?
If you’re using TurboTax, you don’t need to do anything additional to prepare this year. Both our TurboTax Online and CD/Download products have been designed to accommodate any changes in the tax law, including the AMT legislation. Do your taxes anytime with TurboTax, and we’ll take care of the rest.
More Resources from TurboTax
Questions about the AMT? TurboTax makes this complex issue easy with free tax tips and information. Check out the following resources:
- What AMT Means to You
- What Is the AMT?
- FAQs on the Alternative Minimum Tax
- TurboTax Live Community - Search “AMT” and get answers from TurboTax professionals and users like you.
Updated February 11, 2008. Check TurboTax often for updates.
*IRS typically estimates 8-15 days for e-file with direct deposit.
