What to Expect for Refunds in 2016



Article from irs.gov reviewed Jan-11 2016
 
The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it’s possible your tax return may require additional review and take longer. "Where’s My Refund?" has the most up to date information available about your refund. The tool is updated no more than once a day so you don’t need to check more often.

Our phone and walk-in representatives can research the status of your refund  if it's been 21 days or more since you filed electronically, more than 6 weeks since you mailed your paper return or if "Where’s My Refund?" directs you to contact us.
 
You can use "Where’s My Refund?" to start checking on the status of your return within 24 hours after we have received your e-filed return or 4 weeks after you mail a paper return. "Where’s My Refund?" has a tracker that displays progress through 3 stages: (1) Return Received, (2) Refund Approved and (3) Refund Sent.
 
You will get personalized refund information based on the processing of your tax return. The tool will provide an actual refund date as soon as the IRS processes your tax return and approves your refund.

Direct Deposit

Join the 8 in 10 taxpayers who get their refunds faster by using e-file and direct deposit. It's the safest, fastest way to receive your refund and is also easy to use. Just select it as your refund method through your tax software and type in the account number and routing number. Or, tell your tax preparer you want direct deposit. You can even use direct deposit if you are one of the few people still filing by paper. Be sure to double check your entry to avoid errors.

Your refund should only be deposited directly into accounts that are in your own name; your spouse’s name or both if it’s a joint account. No more than three electronic refunds can be deposited into a single financial account or pre-paid debit card. Taxpayers who exceed the limit will receive an IRS notice and a paper refund.

Popular posts from this blog

Independent Contractor Exemption Certificate (ICEC) – Frequently Asked Questions

Image
Montana Workers’ Compensation Laws for Independent Contractors from the Department of Labor & Industry What are Montana’s workers’ compensation laws for independent contractors? The law requires independent contractors to obtain either an independent contractor exemption certificate or self-elected coverage under a Montana workers’ compensation insurance policy. Refer to MCA, 39-71-417 . What is the purpose of an independent contractor exemption certificate? It allows an independent contractor to waive all their rights and benefits that would otherwise be provided by a workers’ compensation insurance policy. If an independent contractor were to suffer a work-related injury or occupational disease while performing the occupations specified on the certificate, they would not be eligible for workers’ compensation benefits. The certificate concludes the person’s status is conclusively presumed to be that of an independent contractor. Refer to MCA, 39-71-417(7) . What is the purpos...
Read more

Get Ready for Taxes: What to do before the tax year ends Dec. 31

Image
WASHINGTON –The Internal Revenue Service reminds taxpayers there are things they should do now to get ready for the tax-filing season ahead. Charitable Contributions For most taxpayers, Dec. 31 is the last day to take actions that will impact their 2019 tax return. For example, those who plan to itemize deductions should know that charitable contributions are deductible in the year made. Donations charged to a credit card before the end of 2019 count for the 2019 tax year, even if the bill isn’t paid until 2020. Checks to a charity count for 2019 if they are mailed by the last day of the year. Retirement Plans and Contributions Taxpayers who are over age 70 ½ are generally required to take distributions from their individual retirement accounts and workplace retirement plans by the end of 2019. However, a special rule allows those who reached 70 ½ in 2019 to wait until April 1, 2020, to receive them. Most workplace retirement account contributions should be made by the end of the ...
Read more

2019 Extended Tax Return Filing Deadline

IRS reminds taxpayers who filed an extension that the Oct. 15 due date approaches File and pay electronically, request direct deposit for refunds WASHINGTON – The Internal Revenue Service today reminds taxpayers who filed an extension that the Oct. 15 due date to file 2019 tax returns is approaching. Taxpayers should complete their tax returns and file on or before the Oct. 15 deadline. Convenient electronic filing options , including IRS Free File , are still available. Taxpayers and tax professionals should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments. Although Oct. 15 is the last day for most people to file, some taxpayers may have more time. They include: Members of the military and others serving in a combat zone . They typically have 180 days after they leave the combat zone to file returns and pay any taxes due. Taxpayers in federally declared disaster areas who already had ...
Read more