Rabu, 09 September 2009

How Long Until I Receive My Tax Refund?

You’ve got through the dreaded tax deadline and have your return into the IRS. Now the fun part – how long until I receive my tax refund? Show me the money!

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dread = kb. rasa takut, ketakutan. -kkt. takut (kepada).

Before we get into your tax refund, it is vital that you understand something very important. A big tax refund is not really a good thing. Why? Well, it means you over paid your taxes throughout the year. This effectively acted as a free loan to the federal government. Instead of waiting a year to get your money, try cutting down your tax payments during the year to the point where you will pay in what you actually owe instead of a lot more.

How Long?
Okay, let’s get to the heart of the matter. How long does it take to get your tax refund? The answer is all in how you filed your tax return. We’ll start by assuming you filed on time and don’t have any penalties or what have you awaiting at the IRS. If you filed your tax return electronically, it usually takes two to four weeks to get your tax refund. An electronic filing is processed quickly. You can also speed up the process by forgoing a tax refund check and instead asking the IRS to simply wire the money into your bank account.




Many people are nervous about the tax refund wiring option. Why? Well, do you really want the IRS to know about your bank account? At least, that is the thinking on the issue. The truth is, of course, the IRS already knows about your bank account. If it wants to find yours for some reason, it will just run your social security number through the banks to find the accounts. Giving the IRS the number to process a wire of your refund is not the equivalent of giving the IRS the keys to the castle.
Okay, what if you mailed in your tax return? The majority of people still do it his way. Unfortunately, it slows down the refund process. The IRS has millions of paper returns coming in all at the same time. It has to organize them all and then scan everything into a computer. As you can imagine, that takes a while. Once everything is process, the agency will then cut your check. It can take anywhere from one to three months with the mid point being the most likely delivery date.

No Refund Arrived
What if you don’t get a refund? It usually doesn’t mean you are getting audited. The IRS treats the two subjects differently. It could mean you owed the IRS money in the past, and said amount has been deducted from your refund. If so, you’ll usually receive a letter telling you as much.
If you don’t receive anything from the IRS, that means there is a big problem. It usually boils down to one of two things. First, the IRS may not have received your return and thus isn’t processing a refund. Second, you’ve moved and failed to notify the IRS. Tax letters are generally not forwarded by the post office. In either case, you need to contact the agency to find out what is going on.
How long does it take to receive a tax refund? Anywhere between two weeks and three months unless there is a problem.

Sumber:
http://www.businesstaxrecovery.com/tax-articles/how-long-receive-my-tax-refund

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