When you know you are going to get a tax refund, filing your returns gives you even more thrill. It is in such moments that you become among the first people to submit their paperwork waiting to receive some money.
Well, as soon as you do this, the better. However, in this scenario, many filing their returns on time turn to wonder when they should expect their refund. But all these involve accounting procedures. At times delay may indeed occur albeit not every year, and that gets everyone expectant of it worried.
In the US, the year 2019, this is how the filling scheduled went. IRS opened the tax filling window on 28th January with most states declaring the deadline on Monday, 15th April.
However, for those living in Massachusetts and Maine they had a two-day extension as they were celebrating the Patriots’ Day on 15th April. Also, those in Washington D.C. were included as 16th April was their Emancipation Day holiday.
2019, Tax Refund Date.
The reports by IRS in 2019 about the tax refund timeline was by 21 days. However, it is fortunate for those who wanted to confirm or revisit their tax status. IRS, through their website, had the “Where’s My Refund” link which enabled everyone who had filled their returns check their refund status.
More conveniently, this was accessible even through the IRS2GO, a special mobile app. All you needed was either your Social Security or Tax ID number. Through these platforms, it was even possible to check the exact refund amount you expect.
IRS website, however, indicates that those checking their tax refund status after e-filling should do so 24-hours after. On-the-other-hand, those who are using mail should also do so four weeks after. It is then in the two scenarios that you will get to see the updated status of your tax refund.
2019 tax refund faced a little challenge though at its start. It was the government’s shutdown. None of the filling methods was impacted, and fortunately, it ended soon enough on 15th February 2019, when the refund was picking up.
2019 Refund Delays
Even though the tax refund timeline was set to not more than 21-days, there were some exceptions. IRS had to pause the tax refund concerning the “Protecting Americans from Tax Hikes (PATH) Act of 2015.”
This act included the Earned Income Tax Credit (EITC) as well as the Additional Child Tax Credit (ACTC). Because of it, the holding was necessary until 15th February 2019. Therefore until the week of 25th February, that’s when it will be possible to receive refunds – earliest that is.
For those filling for the 2019 tax return, try using the e-file method. It is much faster and reliable then again remember to choose direct deposit and not mailed check. These tips increase your early refund chances.
Note that extending your filling may not be of any necessity.
As you delay in paying, you will be attracting penalties; 5% of the due tax up to %25 when you failed to file and pay. For those who file and not pay, the charges are from .05% of the due tax to 25% – each month. If you decide on extending your filling note that your paperwork will be due 15th October 2019.
For quick and reliable help with your tax filing, reach out to Abdul Ghaffar for this and much more on bookkeeping.