A common question heard at tax time is "how long does it take to get my refund back?" Consumers, especially those struggling in tough economic times, look forward to the financial boost that a tax refund gives. The good news is that the Irs provides the needful tools that make looking the status of a federal tax refund check just a mouse click away. With state refund checks however, it's a petite trickier since you have to know which state agency controls the tax return process. In this article, we'll guide you through the Irs's guidelines for when how long the refund check should take, and recap the proper channels for getting both federal and state tax fund questions answered.
Federal Tax Refunds
How you file your taxes, via either U.S. Mail or electronic filing, dictates how long it regularly takes to receive a refund. Filing a return through the mail is, of course, the slower of the two processes. For those who mail their federal return, the Irs will remit a tax refund within six weeks after they have been received the completed return. If you file electronically, you should receive your tax refund within three weeks.
The Irs allows two options for receiving a federal tax refund: paper check sent via the mail, or an electronic funds exchange (also called a direct deposit). The direct deposit method, not surprisingly, is all the time the quicker option. The Federal 1040 form contains a section where consumers can opt for a direct deposit. If you want the Irs to electronically deposit your refund into more than one list you will need to file a cut off form 8888.
How to Check on Your Federal Tax Refund
For anyone wanting to check the status of their tax refund, naturally go to the Irs's Where's my refund (irs.gov/individuals/article/0,,id=96596,00.html) webpage where you'll find an easy to use tool to invite the information. If you would rather check the refund status by phone, you may call 1-800-829-1954. The Irs asks that you wait 3 days after filing electronically, or 3 weeks after mailing a return before checking for a status update. For those who file an amended return, however, the period to receive a refund check will take 8-12 weeks.
Tips on Ensuring a Quick Refund
By eliminating mistakes, consumers can ensure that their refund is received in as timely a fashion as possible. The most common mistakes, which can cause delays in receiving a refund, are listed below:
Social protection amount missing or incorrect
Incorrect tax result, given reported revenue and filing status, was entered
Mathematical errors in figuring the taxable income, withholding and estimated tax payments, Earned revenue Credit, proper Deduction for age 65 or over or blind, the taxable amount of collective protection benefits, and child and dependent care credit
Items entered on incorrect line, especially estimated tax and withholding
General Math Errors
State Tax refund Process
As you might expect, each state has its own exact agencies and rules that govern taxation processes. Many states have a agency of revenue that deals with tax filings and returns, for other states it may be the Tax Commission, agency of Taxation, or some other similar named department.
To check status on a state tax refund, find the state taxation agency for your single state (by going here aicpa.org/yellow/yptsgus.htm) and go their website. Most state agencies, like the Irs, contribute tools or resources for consumers to check on tax refund status.
How Long Does it Take to Get Your Tax repayment Back?
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