Computer glitch delaying tax refunds
If you have plans for that tax refund, you may have to wait. Hundreds of thousands of tax refunds are delayed because of what's being described as a "computer glitch."
Up to 600-thousand returns filed by H & R Block and maybe even others could be delayed up to six weeks because of a problem filling out the student tax credit - it's form 8863.
In years past, tax preparers could leave the box blank, but now have to enter an "n".
If they didn't do that this year, that's what's caused the glitch, and that's what's causing delays in getting the forms processed and getting refunds to those expecting them.
People like Troy Gonzalez from Indianapolis are among those waiting, "I don't necessarily blame H & R Block for the glitch, but I would have liked a time frame for wait when I thought money would be there," Gonzalez said. "When I had to call and find out on my own and, oh, by the way, you might get a letter from the IRS saying you might have to resubmit tax documents."
The tax forms affected are those filed between February 14th and February 22nd. H & R Block says although the IRS has said it could take 6 to 8 weeks, they don't believe it will take that long.
On their Facebook page, H & R Block says that they are working with the IRS and once they have more specifics about the timing, they will share it with their clients.
But any delay could be a problem for those filing the FAFSA forms, the Free Application for Federal Student Aid. There is a way you can still process the form even if your tax return is delayed.
"This really shouldn't stop you if you've got all your other information," says financial planner Elaine Bedel. "If you've gotten a copy of your return from H & R Block that was being filed, even though it's being held up because of that little glitch, all of the information should be there. So there shouldn't be any problem getting that information into the FAFSA form."
Bedel says any time you fill out your tax forms, you need to do it completely. And it is up to you as the tax filer to make sure every "i" is dotted and every "t" crossed.