Once in a while we receive good news from the IRS. Since it doesn't happen often, we need to savor it. This time, the IRS announced that for tax year 2011 they processed 90 percent of tax refunds in 21 days or less for the vast majority of filers. Only exceptional cases fell outside of this window. For tax year 2012, they expect to keep the same level of performance. In addition to the refund window, the IRS has developed a new tracking system that allows filers to see exactly which stage of the review process their return finds itself. For electronic filers this system is available 24 hours after submission. For paper filers it's available four weeks after submission. This isn't good news for everyone. Some tax preparers believe that they IRS should issue refunds within three to five days given the technology the use and the requirements to e-file.
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