If you haven't received your income tax refund yet, now is the time to check. In our Links & Tools section, we've got handy links to the IRS and Maine Revenue Service's refund status applications. On each of those sites, using your tax return, you can track where your refund is at in the process.
IRS Refund Status
Some returns are being held up with Schedule M issues. Everyone earning income should have filed the Schedule M to receive the "Making Work Pay Credit." Filers that failed to claim the Making Work Pay Credit (6.2% of earned income, capped at $400 per person) are having it added to their returns. Unfortunately, this means extra processing time and delayed refund penalties. Here at Yellis & Foley, we sorted through potential Schedule M issues early in the season and prepared all our clients' returns accordingly. It can pay to have a CPA.