If you’ve been here, you know it better. The taxpaying season can be quite hectic. Despite this, some people afford a smile at the end of it all when they get a refund. In simplest terms, a tax refund is the reimbursement of your overpaid tax amount to either your federal or state government.
Whether a regular employee or self-employed tax refund on you is possible provided you follow the right procedures. If you are going to claim for yours knowing how to check tax refund status will be quite essential.
How Tax Refund Process Work
Exceeding the income tax amount you should pay at the end of each year attracts a refund that often puts a smile on many people’s faces. When you submit your tax return information, including checks to the tax authorities, the IRS takes charge of reviewing it.
In case the amount you’ve paid is more than the much you owe the state or government, they will issue you with a refund. Depending on the method with which you submitted your information, electronically, or through the mail, they will take between 10 to 21 days to send you back your money. They can either send it as;
• Personal checks,
• U.S. savings bonds,
• Direct deposits to your bank account or any other option you specify in your W-4 form.
To track your tax refund status, you can always check your portal on the IRS website.
According to IRS refund status 2019, averagely 136 million dollars were refunded by around May 10. That shows you how much free-loan the state or federal government receives from taxpayers. Always there is a way, however, to avoid this. Always ensure you relook and check your due tax income information.
How Do I Track My Refund Status?
How do I check my refund? It concerns many after filing their taxes on when they will get their refund. Luckily, the IRS has a way to clear your worries. On their website, they have a unique link, where’s My Refund through which you can know your tax refund status.
By clicking the link, you will be asked to fill in your tax refund amount plus other personal tax information. These include;
• Taxpayer identification number
• Social Security number
By submitting your request, you will know the details of your Federal Tax Return Status, whether it is on the way or there is a problem. Another way to check your tax refund status is by using a specialized tax refund tracker App, the IRS2Go. Here also, you will have to provide your tax information the SSN and the Tax I.D number to get access.
Apart from these two options, you can make inquiries direct to IRS via phone call – this is through their hotline (800-829-1954). You must, however, note that IRS receives huge volumes of phone calls, and you might have to wait on the line a little longer.
When none of these seem working for you, another option would be to visit the IRS department of either your state or the federal government. Delays in refunds may occur, and that is normal. By contacting the IRS department, you can know where exactly your return is.
The excitement that comes to receiving a tax refund has been to some people as saving means. They pay more intentionally, to have their money saved for them for later use. Well, there are not precise issues on this; however, note that you will be giving your government a free-loan.
You can always avoid this by updating your W-4 form. By doing so, you will be paying the correct amount at the end of each tax year. Otherwise, through the IRS department and portal, you can always find more on your tax refund status.