Tax Refund – When Is It Coming?

Tax season can make you manic-depressive. Nothing is more depressing than preparing your taxes. Nothing is more manic than planning how to spend your tax refund. Ah, but when is it going to show up is the biggest question most have.

Before we go much further, it is important to understand something about tax refunds. If you receive a sizeable refund each year, you need to think through your tax payments. A large refund each and every year is a sign that you are making a mistake in paying taxes.

A large tax fund is a problem for one basic reason. You are giving the government an interest free loan throughout the year. Think about that for a minute. Would the IRS give you one? Probably not. You might want to adjust the amount of money you are paying in.

So, you want to know how to find out about the status of your tax refund payment. It is actually pretty easy. The IRS has a reputation for being way behind when it comes to technology. It is, but it also has a very good website where you can get lots of info.

To find out the status of your tax refund, the easiest method is to visit the IRS site. Just do a search for it. Once there, you want to click on the link that says where’s my refund? It is on the home page and prominently displayed.

At this point, you need to dig out the great American novel…err, tax return you filed. You need your SSN, specific refund amount and filing status information. You have to click the link called wheres my refund at the bottom of the page to get to the form.

Once you fill out the form, the program will grind along for a few seconds and then kick out a status answer. There are three possible answers. The date the refund is issued. A problem with mail delivery to you. A problem with your tax return delaying the issuance.

Obviously, this final answer may cause most people to faint at their computer. Don’t. It is not necessarily an indication of impending doom, to wit, and audit. You may just have forgotten to fill in a necessary box or the computer may have had a problem with the form.

Even if you are audited, it is important to know that most audits are correspondence audits. You will get a letter in the mail raising some issue with your return. You can agree to the proposed change by the IRS or contest it.

A tax refund is glorious thing in the view of most people. There is nothing wrong with that view so long as you realize the feds are getting a free loan from you each year. Giving politicians free loans seems dubious to me, but to each their own.

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