Tax Bd Casttaxrfd (2024)

FAQs

Why did I get a deposit from franchise tax BD CastTaxRFD? ›

The deposit stands for Franchise Tax Board California State Tax Refund. This would NOT include your Federal refund, which will come separately.

An IRS agent may call you or visit your home, but usually only after sending several letters first. When an e-filed return gets rejected, the IRS will often let you know within a few hours. It also sends a rejection code and explanation of why the e-filed return was rejected.

An incorrect or transposed number could result in your financial institution rejecting the deposit or, worse, depositing your refund into someone else's account. Third, double check your return to ensure you haven't made math or other errors that could increase or decrease the actual amount of your refund.

To submit the response, please login to e-Filing portal >>Pending Action >>Worklist>> Response for Refund Confirmation by selecting the correct option. - The claim of refund is correct to the best of my knowledge and belief. - Return of Income is being revised wherein, correct claim of refund shall be made.

SACRAMENTO, Calif. — Some people received refund checks from the IRS even though they were told they owed them money. Is it simply just a nice surprise or a mistake? One tax expert says it could be the result of an error in completing the return, so the IRS corrected it and sent a refund.

It could be: A refund from a filed tax return, including an amended tax return or an IRS tax adjustment to your tax account – this will show as being from the IRS (“IRS TREAS 310”) and carry the code “TAX REF.”

Remember, if your original return was filed by the due date and was rejected, there's no need for you to worry. The IRS considers your return on time as long as you made the corrections and file it again within five business days.

Yes you can. You would start by clicking on "Fix My Return" to get to the options to clear your return and start over from scratch. See our FAQ on how you can Clear and start over.

See our Held or Stopped Refund page or our video for more information. If the IRS is reviewing your return, the review process could take anywhere from 45 to 180 days, depending on the number and types of issues the IRS is reviewing.

Share: If you were set up for a direct deposit of your refund and your bank account closed before the funds were direct deposited, your bank will return the funds to the IRS. The IRS will then issue you a paper check, resulting in a tax refund delay of up to 10 weeks.

Why would a bank decline a refund? ›

Declined refunds

Common reasons for declines: Card account is closed. Card account is frozen due to fraud. Card account does not support refunds (e.g. some prepaid cards)

Generally, a bank must make funds deposited into an account by a government check available for withdrawal not later than the business day after the banking day on which the funds are deposited into an account held by the payee of the check and in person to an employee of the bank.

The most convenient way to check on a tax refund is by using the Where's My Refund? tool on IRS.gov.

"IRS Accepted Return But Not Approved" Meaning

If a taxpayer receives the status update that their tax return was accepted but not approved, this means that the IRS has received their tax return, but they have not yet evaluated the information.

Why is my return being reviewed? While we accept most tax returns as filed, we select some for examination. The IRS examines some federal tax returns to determine if income, expenses, and credits are reported accurately.

You may have received a direct deposit to the bank account you received your 2020 California tax refund that states "FTB MCT REFUND MCT REFUND." The majority of direct deposits posted to bank accounts between October 2022 and January 2023. Before contacting FTB, check your bank statements for these months.

A tax refund is a reimbursem*nt to taxpayers who have overpaid their taxes, often due to having employers withhold too much from paychecks.

If you have received an IRS refund check with no explanation , there are a few possible reasons for this . It could be a mistake on the part of the IRS , or it could be a result of changes made to your tax return after it was processed .

The Franchise Tax Board will send a notice or letter to personal taxpayers and business entities for issues that may include but not limited to: You have a balance due. You are due a larger or smaller refund. We need to notify you of delays in processing your return.