Perhaps you have already filed your tax return by now. Are you expecting a tax refund? Where can you check its status? How long will it take for you to receive your tax refund? What if you’ll receive a lower amount than what you’ve expected? Here are some of the commonly asked questions on how to get tax refund easily, accurately, and quickly from IRS.
When Will I be Able to Get my Tax Refund?
It depends on how you filed your income tax return and how accurate it was. For returns filed on paper, it would take the IRS approximately six weeks from the date they received it to process your tax refund. For those who e-filed their returns, tax refund will be released by IRS typically within three weeks.
How am I Supposed to Check my Tax Refund Status?
You have two options to check the status of your refund. First, you may call the Refund Hotline of IRS at (800) 829-1954. Just provide your Social Security number, filing status, and the exact amount of your refund shown on the return. The second option which is the easier and faster method of tracking your tax refund is by using the “Where’s My Refund?” tool of the official IRS website. Same with the first option, you should provide Social Security number, the filing status, and the exact amount of your tax refund reflected on your tax return.
What are the Available Options in Getting my tax Refund?
According to IRS, there are three options in getting your tax refund. The fastest way is to have it directly deposited to your bank account. The IRS also issues a paper check. But if you want, you may also choose the U.S. Savings Bonds. Your refund can be used in buying at most $5,000 U.S. savings bonds in multiples of $50.
What if I Don’t Receive my Tax Refund, or the Amount is Incorrect?
In case you receive tax refund even if you were not expecting it, or it becomes larger than what you’ve expected, do not take any action immediately. Just wait for the IRS notice explaining the discrepancy then simply follow the notice instruction. If you receive less than the expected tax refund, you may immediately cash the check. Then IRS will just make any adjustment if necessary then send another check for the balance. If you really think that IRS issued an erroneous refund, wait for two more weeks after receiving the tax refund. Then you may call (800) 829-1040 for verification. If you have not yet received your tax refund or lost it, you may file for check replacement at “Where’s My Refund”. Provided that it’s already 28 days from the date that it was mailed to you.
What can I do to Quickly Receive my Tax Refund?
Verify first the accuracy of your information in the tax return before you send it to the IRS. As much as possible you should avoid erroneous items, otherwise, it will delay the processing of your refund. The most common errors are incorrectly written Social Security numbers or forgotten to include such numbers, as well as miscalculation of tax owed, and entering data on the wrong spaces.
Want to know more about how to get your tax refund quickly? Contact us today and we’ll share some insights with you. Clark’s Integrity Bookkeeping will be glad to talk to you. Living in Bellaire? No problem! We also cover that area.