Delay in Refund due to IRS Not Receiving 1099-R Information

Forum|Forum|2 years ago
April 2, 2024
6 replies
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Has anyone experience a delayed refund due to the IRS not receiving 1099-R information from your investment company? I downloaded and filed the information from (2) 1099-R forms and filed early (Feb. 3); however, the investment company did not do the same. When I phoned the investment company today, they responded that they sent everything out "a couple of weeks ago" but would not provide a specific date. Meanwhile, my return is being reviewed/held waiting on this information. Anyone experience a similar issue?

Pip_12_mn

How did you know the IRS did not receive the 1099-R?

I had a 1099-R, filed my return on March 4, and it's STILL processing.

I called the IRS and was told it was held up for an "unspecified error" with no further details available.

Not sure if it's due to the 1099-R not being received by the IRS.

rw1021Author

Thanks for your response. During a call w/the IRS today, they advised that they had not received one of the 1099-Rs, which prompted me to call the investment company.

Pip_12_mn

It would be interesting to know if this information was available on your tax transcript. I've been checking mine but it just says N/A.

rmladden

I filed 1/29 and my return is still processing. It contained both a 1099-R and W-2. Used standard deduction. On 3/11 I got a letter saying it is under review and I may need to wait 60 more days. No further explanation available. I usually file in late March with no problems.

EDIT: Found this on the web. Note the late deadline for electronic 1099-R, much later than the paper we get.

The filing due date for Forms 1099-R is February 28, 2024, if filed by paper, and March 31, 2024, if filed electronically. 1099-R copies are due to recipients by January 31, 2024.

Ukkid

This year companies didn't have to submit 1099-r to the IRS until April 1st. I'm in the same boat as you.

rmladden

Just received another letter from the IRS saying they need another 60 days. The reason given is,"We're waiting for your tax account information to be available on our computer system."

I looked online at my 2023 Wage and Income Transcript and the 1099R that contains most of my income and withholding is missing. Either my pension bank has not electronically reported it yet (and paying fines) or the IRS has not be able to ingest it yet. The IRS has not asked me for anything. The other income documents are there.

Ukkid

I was going through the same thing. I contacted my congressman's office. They wrote me back right away. Even though they got a tas for me, the irs wouldn't accept my copies of 1099-r. I sent my congressman a copy of my check stub showing the taxes taken out and received our refund in less than a week. Contact your Congressman.... it's simple!

rmladden

I contacted my pension administrator and they replied, "...apologize for any inconvenience that this may have caused." No resolution date given. It looks like they may have to pay a $120 fine for mine, and maybe $3,000,000 in fines for my 25,000 former coworkers (I doubt mine is the only one). Fines increase on August 1. Since the vast majority of my tax withholding is on the 1099, I doubt the IRS would budge on this.

Ukkid

Contact your congressman. It you try to get a tax advocate yourself it could be months. The only thing I provided them that got my refund going was the actual check stub showing the amount of taxes taken out. The 1099r and quarterly statement wasn't proof enough. My congressman went through a tax advocate but I only dealt with the congressmans office. I'm so sorry about your situation and I totally understand it! I wish you the best of luck!!

rmladden

My refund has been approved by the IRS! My pension administrator claims that 1099 processing was delayed on the IRS side and they filed correctly on time. The IRS is saying nothing except it is approved and I should be having my refund deposited by June 25. Also getting interest added. Apparently there is no reason to file very early if most of your income/withholding is on 1099s since 1099 transmissions are not due until March 31.