Is My Tax Refund on the Way?

By: Rich Chappo.. ,
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.How could a large refund each year be a bad thing?
Well, you need to consider that the money you are getting back was originally your money. The IRS is not paying you interest on it, so you are effectively giving the government a free loan each year.Okay, enough about that.
You are due a tax refund and want to know when it is going to show up. Do you have to call the IRS? Nope. Despite its reputation for having technology from the stone age, the IRS has a great website you can use for this purpose.The first step to finding out about your refund is to visit the site for the IRS. You can find it by doing a search for IRS in any search engine.
Displayed prominently on the home page you will see a link for finding out about your refund. Click it.Once on the refund information page, you need to get some information together. You need to know your social security number, filing status and exact amount you claimed as a refund.Fill out the form and the program should kick out a status report for your refund.
It will tell you a proposed date of issuance, if it had a problem delivering the refund or if there is a problem with your tax return. P
ray this last one does not come up.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.In a worse case scenario, notification of a problem with your tax return could mean an audit. Even then, the world may not end.
Most audits now consist of letters being sent to you proposing a change to your return. You can usually clear it up by sending a letter.There are more than a few funny quotes about the joy of tax refunds. While funny, they are misguided. I personally prefer not to give the government a free loan in the first place. If you get big refunds each year, make sure to adjust what you are paying in.
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