With the new MeF 1040, are the Thursday at noon drain time cut off and direct deposit dates still the same as with the old system? The IRS liaison at a recent CPE seminar had no clue. I understand the Ack's are going to be quicker. Tilt, I did search.
The official word is yes, it will be the same: http://www.irs.gov/pub/irs-pdf...
I was under the impression that one of the goals of MeF was to shorten the refund cycle, but it's going to be so arbitrary and random who gets to use MeF this year (each transmitter will get allotted a certain number of MeF returns), that I'm not surprised that they aren't messing with the refund cycle this first year.
That said, it would not surprise me if at least some people got refunds earlier than expected.
I just noticed your sig - "I can't" never did anything. My mother will tell you that's not so - can't died in the poorhouse! :)
That'a a new one to me, my mom used the anything one on me. I was just hoping that the RAL's and rapid refund programs would go away sooner than later. Thanks, Phoebe
What does "me - f" stand for? Let's hope it's not the same as "f - me." Anyway, if I just send an e-file thru the Lacerte program the way I've always sent e-files thru, should I expect that people will get their refunds in the 1-2 weeks they always got the e-file direct-deposit refunds?
Modernized E-File and unfortunately still the same time frames.
Hey mojo, good job. Here's a link to the refund cycle chart which also lists the time cutoff. However, when I did a general search at the IRS, they indicated they were updating the chart and to check back on Jan. 4. (Am I that bad?)
No, I was just giving you a hard time.
Another stupid question: what's so modernized about one year's e-file vs another year's e-file -- or one way of sending in an e-file vs another -- or whatever?
Whole new system, so more modern than the old clunky one. You get to attach PDFs (eventually), file amended returns (eventually), file delinquent returns, etc. And you get your acks back in a couple minutes.
MeF is what it's called for entities, and 1040s are just now being brought on board. Won't be so modern by the time that's done, but it's a heck of a lot more modern than the legacy 1040 efile.
OK, thanks for the info, Phoebe.
Amy
I am glad it was clarified for you what it stood for !!!
