It’s not just for Abraham Lincoln and George Washington anymore.
Apparently, Presidents Day weekend is popular with taxpayers, too.
“The IRS receives more phone calls on the day after Presidents Day than on any other day of the year,” the IRS stated in a news release this month.
That falls on Tuesday, Feb. 20, this year.
The federal agency expects a “surge” of tax returns this weekend, urging taxpayers to use online resources and tools so they can get the help they need quickly and avoid long wait times and busy signals on the IRS toll-free hotline.
“The most common questions taxpayers ask the IRS involve refunds, and many early filers claim either the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC),” the IRS said.
The IRS says it issues “more than nine out of 10 refunds in less than 21 days,” and encourages taxpayers to check up on their refund status online.
They also can call the IRS (see hotline numbers below).
But federal law prevents the agency from releasing any refund containing the child or EIC credits before mid-February.
The IRS says EITC-ACTC-related refunds will become available in taxpayer bank accounts or debit cards no sooner than Feb. 27 if these taxpayers chose direct deposit and there are no other issues with the tax return.
MISSING W-2 FORMS
Anyone who didn’t receive a W-2 from an employer by the end of January needs to contact the employer directly.
If the taxpayer doesn’t receive a response by Feb. 28, he or she then should contact the IRS for a substitute form.
For all other tax questions, please don’t hesitate to reach out to Peezk ConsultiN and make an appointment.
The IRS also provides several online resources and tools to help with common inquiries.
Here’s a quick reference for IRS hotline numbers:
- 800-829-1040 (individuals)
- 800-829-4933 (businesses)
- 800-829-1954 (refunds)
- 800-829-3676 (forms and publications)
PHOTO CREDIT: Pixabay–CC
Peekz ConsultiN LLC is a Pittsburgh-based accounting firm, located in the West Side, that caters to individuals, small businesses and nonprofit organizations. We aim to empower clients to help them take control of their finances and achieve their dreams.