Posted at 17:13h
in
News from Centrinex
The IRS announced it is delaying processing individual tax returns until January 30th. The IRS’s software systems are being tested and tax forms are being updated to reflect changes mandated by the so-called fiscal cliff bill. This is over a week later than usual. With individual tax return processing delayed, tax refunds will be issued later too—February 8
th at the earliest.
The delay in tax refund payments could easily extend the “
most wonderful time of the year” for online lenders and call centers. Typically by the third week of January, new loan volume abruptly slows as the holiday shopping season ends and consumers climb over the financial spending hump in the first couple weeks of the year. Some times loan customers rely on tax refunds to pay off any online loans they took out during the holiday season or first of the year.