When Will I Get My Tax Refund?

You’ve filed your tax return and are expecting a tax refund. Congratulations!  Now, you want to know when to expect your refund.  Generally, if you e-file and use direct deposit, the IRS estimates that you should receive your federal refund between 8 and 14 days after they accept your return (i.e. the IRS does not send you a notification requesting additional information or an audit notice).

If you did not select the electronic deposit option, getting a paper check mailed to you adds about a week.  If your return was filed by mail, then your refund can take up to 6 weeks from the date the IRS receives a complete and accurate return. Once your return is accepted by the IRS, the IRS processes your refund based on the IRS E-file Refund Cycle Chart. Exact refund dates are based on IRS processing times and can be found in IRS Publication 2043 and IRS Topic 152 for both e-filed and mailed returns.

To find out online when the IRS currently expects to issue your refund, check the IRS “Where’s My Refund?” tool which  is updated every Wednesday. You’ll need to provide the following information from your tax return : social security number, filing status and the exact whole dollar amount of your expected refund. If you have an iPhone, download MyTaxRefund, a free iPhone App from TurboTax that allows you to check the status of your refund on your smart phone.

When to Expect Your State Tax Refund

State refunds are processed by each individual state, so processing times will vary. As a general rule, you can expect your state tax refund within 30 days of the electronic filing date or the postmark date. To get the current status of your state tax refund, contact your state tax agency or search online for your state’s taxation website.

I’m not going to be able to file my taxes in time. What should I do? If you can’t make that mid April deadline for filing your taxes then file an extension. The IRS says it received requests for 11 million extensions, which amounts to about 8% of all tax returns. Taxpayers who ask for an extension get an extra six months to file—your new deadline will be Oct. 15.  However you still need to make any expected tax liability payments. See this article for more details and restrictions on filing an extension.

Sources : TurboTax

More Related posts:

1. 2012 Tax Filing Deadline Dates – When You Can File 2011 Tax Returns and Get Your Refund
2. Tax Deadline Tips – Filing Late, Requesting an Extension, Installment Plans and Refund Status
3. Get Your Tax Refund Money Now!
4. Should You File a Tax Return or File a Tax Extension?
5. The Best Tax Software and Free Filing Options for E-filed Returns as Tax Filing Goes Primarily Online

Tagged as: Filing, refund, software, tax, TurboTax

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