January 18, 2012 - IRS Temporary closes the MEF System
At 6pm eastern on 1/17, the IRS has temporarily stopped accepting tax returns under the Modernized e-file (MEF) system. The IRS said the system was taken offline so that they could take steps to "improve processing of acknowledgments." The IRS indicated that they expected the system to be back online Wednesday morning (although as of 8am eastern on 1/18 the system was still offline). Despite the shutdown of the newer MEF system, the "legacy" system at the IRS continues to operate. We will keep you updated once new information becomes available.This year, the start date to electronically file was much later than normal. As a result, it is possible that the late start date at the IRS caused a larger than expected volume of tax returns in the initial day of filing, leading to this temporary shutdown at the IRS of its newer MEF system.
October 20, 2010 Wednesday 6:02 pm
NEW YORK – H&R Block Inc.'s allegations that HSBC Bank USA is trying to back out of funding its tax refund loan program signals both a potential blow to the nation's largest tax preparer and an indication that the controversial loans may be disappearing.With funding scarce and help underwriting the loans from the IRS discontinued, the high-interest advances on tax refunds
are going to be harder to find when tax season begins in January. Where they are available, taxpayers will find that it's harder to get approved and they'll have to pay more.