Monday, March 25, 2024

How Can I Get My Tax Return

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My Refund Check Is Now Six Months Old Will The Bank Still Cash The Check

First Time Filing a Tax Return?

A check from the NC Department of Revenue is valid up to six months after the date on the check. If a check date is older than six months, you should mail a letter along with the refund check to NC Department of Revenue, Attn: Customer Service, P O Box 1168, Raleigh, NC 27602-1168. Your check will be re-validated and re-mailed to you.

How Do I Request An Irs Tax Return Transcript

As part of the federal verification process, you may be required to provide a copy of an IRS Tax Return Transcript to confirm the information filed on your federal tax return.

An IRS Tax Return Transcript can be obtained:

  • ONLINE: Visit www.irs.gov. Click on Get Your Tax Record, and then click on Get Transcript Online or Get Transcript by Mail.
  • Online requests require the Social Security number, filing status and mailing address from the latest tax returns, an email account, a mobile phone with your name on the account, and your personal account number from a credit card, mortgage, home equity loan, home equity line of credit or a car loan.
  • If you do not have all of the above, you will need to use an IRS Form 4506-T to request a copy of your tax return transcript.
  • PHONE: Call 1-800-908-9946.
  • PAPER: Complete an IRS Form 4506-T, available at , and submit it to the IRS as indicated on the form.
  • On the form, check Box 6a, “Return Transcript,” to request the tax return transcript. Please complete all appropriate sections on the form to identify yourself, indicate the appropriate dates in Section 9, and sign the form, making sure to check the Signature check box.
  • Because the tax transcript will not include your USC ID number, DO NOT have it sent directly to USC. Have it sent to you so that you can upload a copy of it through FAST.
  • Step-by-step instructions for completing the paper form:

    What Is A Tax Transcript

    A tax transcript is basically a printout summary of the major data on your tax return, including a particularly important one: adjusted gross income, or AGI.

    The IRS doesnt charge for tax transcripts, and you can get one online immediately . Youll need to register online with the IRS before you can access the Get Transcript online tool.

    In most cases, when you need tax return info you can use a tax transcript. Ask whoever needs your tax information whether a tax transcript will be OK or if a copy of the return is required.

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    How To Track Your Tax Refund

    Many taxpayers prefer to get their tax refund via direct deposit. When you fill out your income tax return youll be prompted to give your bank account details. That way, the IRS can put your refund money right in your account, and you wont have to wait for a check to arrive in the mail.

    If you file your taxes early, you dont have to wait until after the tax deadline to get your tax refund. Depending on the complexity of your tax return, you could get your tax refund in just a couple of weeks. To get a timeline for when your refund will arrive, you can go to www.irs.gov/refunds. You can check the status of your refund within 24 hours after the IRS notifies you that it has received your e-filed tax return .

    In a given tax year, you may want to know how big your refund will be so you can plan what to do with it. You may want to use it to boost your emergency fund, save for retirement or make an extra student loan or mortgage payment.

    What Is A Presidential Audit And Why Is The Ways And Means Committee Looking Into It

    Baby born in 2020? $1,100 could be owed to your family soon.  Intrepid ...

    Its unclear exactly why Trump has gone to such lengths to shield his tax records. But even though his recent tax records have been released, they might not satisfy the people asking that question both because its not the one the Ways and Means Committee set out to answer, and because the records might not be made public.

    Given how long it took for the committee to access the records, the committee wont be able to conduct a thorough assessment of the records before Republicans take over leadership of both the House and the committee in January.

    The thing that interests me the most about the Ways and Means procurement of the returns is what it will tell about the IRS audit of those returns, Keith Fogg, an emeritus professor at Harvard Law School, told Vox via email. Are the audits complete now? How much did he owe if anything? Did he pay it? What special steps did the IRS take to audit the returns of a candidate/President?

    Trump refused to release his tax returns during the 2016 campaign, saying he was under audit and would make them public when that process was complete. A 2020 New York Times investigation showed that he had been in a decade-long battle over a $72.9 million refund he received on his 2010 tax return.

    I suspect that the NY Times gave us most of the information about his returns and the new data will just confirm what was already made public, Fogg said.

    Depending on the results of the review, Congress could change the process via legislation.

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    Transcript Of Your Tax Return

    We offer various transcript types free of charge. You can go to the Get Transcript page to request your transcript now. You can also order tax return and account transcripts by calling and following the prompts in the recorded message, or by completing Form 4506-T, Request for Transcript of Tax Return or Form 4506-T-EZ, Short Form Request for Individual Tax Return Transcript and mailing it to the address listed in the instructions. Form 4506-T-EZ was created only for Form 1040 series tax return transcripts. Allow at least 10 business days from when the IRS receives your request to receive your transcript.

    The Department Generally Processes Electronically Filed Returns Claiming A Refund Within 6 To 8 Weeks A Paper Return Received By The Department Takes 8 To 12 Weeks To Process

    When inquiring about a refund, please allow sufficient time for the Department to process the refund claim.

    The status of a refund is available electronically. A Social Security Number and the amount of the refund due are required to check on the status. You are not required to register to use this service.

    If it is necessary to ask about a refund check, please allow enough time for the refund to be processed before calling the Department. Keep a copy of the tax return available when checking on the refund status online or by telephone.

    Refer to the processing times below to determine when you should be able to view the status of your refund.

    • For electronically filed returns, please wait up to 8 weeks before calling the Department. Electronically filed returns claiming a refund are processed within 6 to 8 weeks.
    • For paper returns or applications for a tax refund, please wait up to 12 weeks before calling the Department. Paper returns or applications for tax refunds are processed within 8 to 12 weeks.

    If sufficient time has passed for your return to be processed, and you are still not able to review the status of your refund, you may:

    • Access Taxpayer Access Point for additional information, or
    • Contact us at 285-2996.

    For refund requests prior to the most recent tax year, please complete form RPD 41071 located at and follow the instructions.

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    I Have Moved To Another Address Since I Filed My Return My Refund Check Could Have Been Returned To The Department As An Undeliverable Check What Do I Need To Do To Get My Check Forwarded To My New Address

    In most cases, the US Postal Service does not forward refund checks. To update your address, please complete the Change of Address Form for Individuals, call the Department toll-free at 1-877-252-3052, or write to: North Carolina Department of Revenue, Attn: Customer Service, P.O. Box 1168, Raleigh, NC 27602-1168.

    Copies Of Old Returns

    How to Recover Past Tax Returns – TurboTax Tax Tip Video

    The Internal Revenue Service can provide you with copies of your tax return from the most recent seven tax years. You can request copies by preparing Form 4506 and attaching payment of $43 for each one. Once the IRS receives your request, it can take up to 60 days for the agency to process it. If you filed your taxes with a TurboTax CD/download product, your tax return should be stored on your computer, so you can print a copy at any time. If you used TurboTax Online, you can log in and print copies of your tax return for free.

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    Reduce Your Taxable Income

    Its not too late to reduce your taxable income for the year, and it could significantly enhance your refund or trim your tax bill in 2023.

    Todd says you do this in several ways, but two methods stand out: Diverting your income to your retirement accounts and deducting business expenses if youre an entrepreneur. Front-loading your business expenses for next year and maxing out your retirement account contributions are reliable ways to reduce your taxable income for the current year.

    What you might not realize is that spending that money can bring you a double benefit for your business. Not only does it help you grow your business, but the money you spend can be deducted from your business income. Business expenses are generally deductible if they are ordinary and necessary, and you have receipts as evidence to give to the IRS. For example, instead of buying necessary materials or paying subscriptions a month at a time for your business, bulk order things or pay the annual fee in December so that youll be able to use those goods and services for 2023.

    If I Owe The Irs Or A State Agency Will I Receive My Nc Refund

    In some cases debts owed to certain State, local, and county agencies will be collected from an individual income tax refund. If the agency files a claim with the Department for a debt of at least $50.00 and the refund is at least $50.00, the debt will be set off and paid from the refund. The Department will notify the debtor of the set-off and will refund any balance which may be due. The agency receiving the amount set-off will also notify the debtor and give the debtor an opportunity to contest the debt. If an individual has an outstanding federal income tax liability of at least $50.00, the Internal Revenue Service may claim the individual’s North Carolina income tax refund. For more information, see G.S. §105-241.7 and Chapter 105A of the North Carolina General Statutes.

    Read Also: What Happens If I Send My Taxes Late

    How To Check Your Refund Status

    Use the Where’s My Refund tool or the IRS2Go mobile app to check your refund online. This is the fastest and easiest way to track your refund. The systems are updated once every 24 hours.

    You can to check on the status of your refund. However, IRS live phone assistance is extremely limited at this time. Wait times to speak with a representative can be long. But you can avoid the wait by using the automated phone system. Follow the message prompts when you call.

    Access Tax Records In Online Account

    When Can I Get My Tax Refund

    You can view your tax records now in your Online Account. This is the fastest, easiest way to:

    • Find out how much you owe
    • Look at your payment history
    • See your prior year adjusted gross income
    • View other tax records

    Visit or create your Online Account.The method you used to file your tax return and whether you had a balance due affects your current year transcript availability.

    Request your transcript online for the fastest result.

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    What Is A Tax Refund Advance

    A tax refund advance is a short-term loan that uses your anticipated tax return as collateral. You can typically borrow between $200 and $4,000 between December and February.

    Interest for this type of loan is typically higher than most other loans, with annual percentage rates spanning around 35%. For context, average credit card APRs are around 18%, while personal loan APRs are around 11.08%. Some tax filing services don’t charge interest for this service as long as you agree to file your taxes with them, but that may mean you end up paying a fee to file your taxes.

    “This isn’t a standardized product,” said Weiss. “Therefore, fees, requirements and APRs vary drastically from one company to the next.” If you’re considering a tax refund advance, Weiss recommends reading the fine print and comparing different options.

    Copy Of Your Tax Return

    There are different ways to obtain your tax return information. Most requests can be satisfied with a computer printout of your return information called a transcript. However, sometimes you need an exact copy of a previously filed and processed tax return with all attachments . Copies are generally available for returns filed for the current and past six tax years. On jointly filed tax returns, either spouse may request a copy. Only the signature from the requesting spouse is required on the Form 4506, Request for Copy of Tax Return. You should complete Form 4506 and mail it to the address listed in the instructions, along with a $43 fee for each tax return requested.

    • Make your check or money order payable to “United States Treasury”
    • Enter your SSN, ITIN, or EIN and “Form 4506 request” on your check or money order
    • Allow 75 calendar days for us to process your request

    If you’re a taxpayer impacted by a federally declared disaster or a significant fire, the IRS waives the usual fees and expedites requests for copies of tax returns for people who need them to apply for disaster-related benefits or to file amended returns claiming disaster-related losses. See Publication 3067, IRS Disaster Assistance Federally Declared Disaster AreaPDF. For additional information about tax relief in disaster situations, refer to Topic No. 107 or call the IRS Disaster Assistance Hotline at .

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    I Claimed The Earned Income Tax Credit Or The Additional Child Tax Credit On My Tax Return When Can I Expect My Refund

    According to the Protecting Americans from Tax Hikes Act, the IRS cannot issue EITC and ACTC refunds before mid-February. The IRS expects most EITC/Additional CTC related refunds to be available in taxpayer bank accounts or on debit cards by March 1, if they chose direct deposit and there are no other issues with their tax return. However, some taxpayers may see their refunds a few days earlier. Check Wheres My Refund for your personalized refund date.

    Wheres My Refund? on IRS.gov and the IRS2Go mobile app remains the best way to check the status of a refund. WMR on IRS.gov and the IRS2Go app will be updated with projected deposit dates for most early EITC/ACTC refund filers by February 19.

    How Quickly Will I Get My Refund

    How To File Your Tax Return In 2022 Online For FREE! (Step By Step)

    We issue most refunds in less than 21 calendar days. However, if you filed on paper and are expecting a refund, it could take six months or more to process your return. Wheres My Refund? has the most up to date information available about your refund.

    It is also taking the IRS more than 21 days to issue refunds for some tax returns that require review including incorrect Recovery Rebate Credit amounts, or that used 2019 income to figure the Earned Income Tax Credit and Additional Child Tax Credit .

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    When You’ll Receive Your Payment

    MCTR direct deposit payments for Californians who received GSS I or II are expected to be issued to bank accounts between October 7, 2022 and October 25, 2022. The remaining direct deposits will occur between October 28, 2022 and November 14, 2022.

    MCTR direct deposit recipients who have changed their banking information since filing their 2020 tax return will receive a debit card. Debit cards for this group will be mailed between December 17, 2022 and January 14, 2023.

    MCTR debit card payments for Californians who received GSS I and II are expected to be mailed between October 24, 2022 and December 10, 2022. The remaining debit cards will be mailed by January 14, 2023.

    Refer to the tables below for the latest updates to the payment schedules.

    Direct deposit payments
    Direct deposit recipients who have changed their banking information since filing their 2020 tax return 12/17/2022 through 01/14/2023

    Direct deposits typically occur within 3-5 business days from the issue date, but may vary by financial institution.

    Allow up to 2 weeks from the issued date to receive your debit card by mail.

    We expect about 90% of direct deposits to be issued in October 2022.

    We expect about 95% of all MCTR payments direct deposit and debit cards combined to be issued by the end of this year.

    What Is Happening When Wheres My Refund Shows My Refunds Status As Approved

    Weve approved your refund. We are preparing to send your refund to your bank or directly to you in the mail. This status will tell you when we will send the refund to your bank . Please wait 5 days after weve sent the refund to check with your bank about your refund, since banks vary in how and when they credit funds.

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