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Contact Us
Phone:
(617) 798-4579
Email:
info@monroetaxconnect.com
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Why is my refund less than expected?There are a number of reasons why a refund may be more or less than expected. You may owe back taxes to the IRS or a state, have seriously delinquent federal loans, back child support, or other tax liens which may ultimately impact your refund amount. As of 2023: • The Child Tax Credit (CTC) went from $3600 back down to $2000 • The Childcare credit maximum went from $8000 down to $2100 • The maximum Earned Income Tax Credit (EITC) for a qualifying taxpayer with no children dropped from $1500 to $560 Also, another likely reason for the smaller refund, despite the higher salary is that you are now in a higher tax bracket. To understand this you need to realize that your tax refund is determined by your total income, marginal tax rate and the amount of federal/state taxes that are withheld.
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How can I access password protected documents in my portal?If you are trying to access a document in your portal that is requesting a password, please use the first 4 letters of your last name (all lowercase) and the last 5 digits of your social security number. (i.e) Name: Jane Blacklist Social: 000-22-1133 This client will use the following password: blac21133
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How quickly will I receive my refund?Most refunds are issued under 21 business days. Filing a paper return (printing and mailing) usually takes longer than filing electronically.
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When does the IRS start accepting returns for the 2023 tax year?The IRS will begin accepting and processing 2023 tax returns as of January 29, 2024. Most of the individual tax returns for the 2023 tax year are expected to be filed before the April 15 tax deadline. If you can't file your taxes on time, you must file Form 4868 for an automatic 6-month extension until October 15th. See Extension of Time to File Your Tax Return for instructions.
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Will I receive my earned income credit and/or child tax credit with my refund?The IRS cannot issue refunds involving the Earned Income Tax Credit or Additional Child Tax Credit before mid-February. The law provides the extra time to help the IRS prevent fraudulent refunds. “Where’s My Refund?” on IRS.gov should show an updated status by Feb. 18 for most EITC and CTC filers. The IRS expects most of these refunds to be available in taxpayer bank accounts or debit cards by Feb. 28 if people chose direct deposit and there are no other issues with their tax return.
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Where do I check for updates on my refund?To view the status of your refund, please use the Where's My Refund tool on the IRS website If you need to check the refund status on an amended return, please use the following Where's My Amended Refund tool on the IRS website. *Note: An amended return appears in the IRS system approximately three weeks after they receive it.
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How do I determine my filing status?You can determine your tax filing status on the IRS website
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