Page 6 - Refund Check News Today

Show maybe half of the households arent going to pay any income tax? this year? i mean, could that be true? >> it is more than true. in fact, only 40% of all taxpayers actually pay the irs. to me that seems unbelievable. but then when you look at the irs and you say, hey, its an odd year, you bet its an odd year. weve got revenue thats down by trillions of dollars. weve got a deficit thats suffocating us, and yet not everyone pays their taxes, so believe me, weve got a tax system that is problem...

Unemployment and multigenerational households. we have to look at taxpayers and the fact theyre getting it wrong on w 4th and the tax industry being unregulated. >> why -- when i hear a $3,000 figure thats big. >> of course its big. the average taxpayer, 70% are attracted to getting the $3,000 refund check. what do they think, theyre not paying taxes to the i.r.s.? when you ask how much due pay to the i.r.s., i didnt pay. i got a $3,000 refund czech. isnt that great. >> neil: what do you tell th...

More, or a little less. and if they send you anything different than what was on that tax return, generally they send you a letter of explanation within two weeks. but if you do not receive that letter of explanation within two weeks, please pick up the phone and call 1-800-829-1040, and ask the irs for an explanation as to why your refund check amount differs. >> all right. and last one here. can i change my mailing address, even after i have filed my return? ive suddenly moved to a different s...

>> all right. we were showing for a moment there our next question, which i want to get to. do i need to have direct deposit if im going e file? because a lot of people are going that way. >> yes, thats a common misconception that taxpayers have. you do not need to have a direct deposit bank account, if you e file your tax return. all you need to know is, e filing is the safest, fastest, most effective way to get your refund check, and again, youll get it within ten days, with or without a direc...

Return, that information will be available within three to four months -- three to four weeks, excuse me, after sending your return. >> okay. heres another one that would matter a lot to some people. can the irs intentionally withhold my refund? >> yes. it is so important for taxpayers to know that the irs acts as the biggest collection agency in the united states. if you owe the irs money, or you owe any other governmental agency money, like delinquent student loans or owe money to a state agen...

Irs.gov, wheres my refund, and make sure that you change the address that the irs has for you, or youll be like millions of taxpayers who have $1.2 billion in unclaimed refunds. very easy to change your address to ensure that your refund check arrives to the right place. >> roni deutch, thanks so much, and her address will be right here, all week long, answering your tax questions. make sure you joan us every day for that. moving on. the plan of attack, well, it was simple enough. board the su...

Taxes by the 15th? what are the penalties then? >> certainly. we can distinguish between someone who owes the irs and someone who does not owe. the latter first. 70% of all americans are not going to owe the irs. when they file for that six-month extension filing form 4868 by april 15th, heres the great news. they is six months to get organized and to get it right, because you and i know the irs are the auditing people at unprecedented rates. two plus two must equal four. talk about the other gr...

Segment. because of the breaking news wont be able to get to all of them. i want to share one from steve on facebook. is it going to take the federal government longer to make refunds because of the governments poor cash flow and what about state returns? people concerned maybe the governments not doing so well in terms of finances is that going to delay my refund? >> steve, an outstanding question. i have very good news for you. even though the irs is dead broke right now and in desperate need ...

York. always good to have you on such thing. this year, two kinds of people. people who owe and people who dont owe. no matter when category youre in, do you have to -- you have to file something, whether taxes or extension by the 15th? >> great to talk to you as well. heres the great news. it is so easy to get an automatic six-month extension of time to file your tax returns whether you have a refund check coming or whether you owe the irs. all you need to know is this -- go irs.gov. get form 4...

Because theyve got that money outlook year long. what youre going to see now is people saying, hey, forget that, im going to take every deduction i can. if i have to pay a little in april, thats one thing, but i sure as heck am not going to be in a situation where i expect that refund check and it doesnt show up in the mail, because ive been planning for it. >> a lot of folks -- why dont you go to msnbc and say stop taking out all that money for the state withholding for new york state? >> no, a...