tax refunds

More Than 600,000 Tax Returns Delayed Due to Filing Errors

The IRS said 10%, or more than 600,000, of the 6.6 million returns claiming education credits it has received so far this tax season were improperly filed by tax software providers. As a result, those refunds could be delayed for as long as six weeks.

What Walmart's Outlook Says About the Whole U.S. Economy

Walmart on Thursday reported higher profits, but offered a weak forecast for the months ahead. The problem? The poor and middle-class Americans Walmart caters to -- and who are big drivers of U.S. spending -- are struggling with rising gas prices, delayed tax refunds and higher payroll taxes.

Walmart Blames Taxes for February Sales 'Disaster'

Walmart released its fourth-quarter results Thursday morning, reporting a mixed bag on earnings and sales. But the big story of the day was the retail giant's February sales "disaster," which it blamed largely on tax issues.

IRS Seeks Recipients for $164.6 Million in Tax Refunds

The Internal Revenue Service is looking for about 112,000 people who are due a combined total of $164.6 million in tax refunds. The tax agency said the average refund check was about 28% larger than it was a year ago.

Ambac Sues U.S. Over $700 Million in Tax Returns

Ambac Financial Group, which Monday declared bankruptcy, is suing the U.S. for attempting to seize $700 million in tax refunds. The bond insurer warns that seizing the refunds could ruin its chances of reorganizing.