When Should You Receive Your Tax Refund?

shutterstock_352655828-[Converted]

 

The top question on everyone’s mind at tax season is when will get my refund? After all, that’s the only incentive people really have to do their taxes. The problem is the answer is never set in stone. Despite claims from the IRS that just about everyone should receive their refund within 21 days of filing their return (if it’s filed electronically), that doesn’t always happen.

The nation’s top tax agency even offers a helpful “Where’s My Refund” page for taxpayers to track the progress, but when your refund is delayed there are times when this page doesn’t offer much help. The problem is there are several things that can delay your refund and sometimes you won’t know what’s going on until several weeks later when a letter from the IRS arrives in the mail explaining the situation.

So what can cause your refund to be delayed? This year, any one claiming the earned income credit and/or the Additional Child tax Credit will have to wait longer for their refunds, which won’t start being issued until Feb. 15, but likely won’t arrive till Feb. 27.

If your return has any errors, like math mistakes, or it is incomplete, like a missing signature or form, then your refund will likely be delayed until the IRS determines the issue and you get it resolved. In addition, if the IRS thinks you are trying to defraud the government your refund will certainly be delayed.

On the other hand, if you or your CPA has filed your return correctly, and electronically, then in almost all cases you won’t have to wait longer than the expected three weeks.

https://www.fool.com/retirement/2017/02/07/when-will-i-get-my-tax-refund.aspx

Posted in
California budget

California Budget Surplus Could Have Adverse Effects

California Budget Surplus Could Have Adverse Effects By Rose Lu Chen, CPA Greenstein, Rogoff, Olsen & Co. Posted: 7/2/10 If you hire a household employee, you will have federal and California tax obligations with respect to your household employment. Household Employee A household employee is someone you hire to do your household work, and you…

Tax Debt; Negotiating

Behind In Your Tax Debt to the IRS? Try Negotiating

Tax Debt to the IRS? Try Negotiating Do you remember that part in the movie A Christmas Story where Ralphie, as the narrator, proclaims in reference to his father: “The old man loved bargaining as much as an Arab trader…and he was twice as shrewd”? Well, if you enjoy a good bargain or barter, then…

Could This Be the End to an American Icon in the U.S.?

Could This Be the End to an American Icon in the U.S.?

Could This Be the End to an American Icon in the U.S.? Samuel Adams was one of our great Country’s founding fathers and an American statesman. However, despite his political accolades and contributions to the United States, his name might be better known as a brand of beer. That right; if you asked who Sam…

audit

Don’t Tempt the Taxman to Choose You for an Audit

Don’t Tempt the Taxman to Choose You for an Audit There are a lot of benefits to being ultra wealthy. High net worth individuals get to experience so many things in life that most people can only dream of. The wealthy also enjoy an extravagant lifestyle that other people only get to watch in movies…