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How Long Does It Take To Do Taxes On Turbotax

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A Rundown Of My Financial Situation

Step By Step TurboTax for Beginners: File Your OWN Taxes This Year! 2021

My finances are pretty straightforward. I had the same full-time job throughout 2017, two paying freelance gigs, and one major freelance expense I was hoping to write off. I also have a savings account with Charles Schwab that I knew I needed to include. I don’t have any dependents or student loans, nor do I own property.

I had heard TurboTax was probably the best option for me because of my freelance work, plus my parents used it to file my taxes last year. Having last year’s documents helped speed up my process a little.

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About Tracking Your Refund

How fast will I receive my refund?

How quickly you receive your tax refund depends on when you file, how you file, how you choose to receive your refund, and whether you claim certain credits and deductions.

When you file your return electronically, most refunds are funded within 21 days of filing, according to the IRS. That clock starts after the IRS begins processing tax returns for the year.

Please note that due to tax laws in place to reduce fraudulent claims for refunds, taxpayers who claim the EITC or refundable Child Tax Credit will not receive a refund before February 15th.

How fast can I get my refund?

If you chose direct deposit, your tax refund will be sent to your bank the same day the IRS sends your tax refund. It will typically take 3-5 days for your bank to process, depending on your bank.

You may receive your refund as early as the same day it was sent by the IRS up to two days faster* than standard direct deposit if you chose to have it loaded onto an American Express Serve® Card.

How can I check the status of my return on the MyJH account I created?

  • Sign into your MyJH account at
  • Select Return Status
  • Complete the information for either Express Authentication or Standard Authentication hit Authenticate when done.
  • Youll be able to see your return status!

    How can I access my tax documents on the MyJH account I created?

  • Sign into your MyJH account at
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    Why Does Turbotax Take That Long

    Turbotax tax software is created with the consumer in mind. Because of this, it makes filing your own taxes relatively easy to do. Every aspect of the process has helpful links and even live customer service should one need it. Because of this, tax returns filed through Turbotax dont take very long to complete at all.

    It should be noted that once your return has been electronically filed, it will still need to be accepted by the IRS before it can begin processing. This usually happens on the same day of filing. Refunds are processed and deposited within 21 days. Do not call the IRS about your refund until your 21 days have been met.

    Most refunds are deposited within 2 weeks, however, unless you printed your return to file it. Printed and mailed returns can expect to take at least 1 to 2 weeks longer than returns that were electronically filed.

    However, those who choose to use Turbotax as their method of preparing and filing their tax return can expect the process to be generally quick and easy. One is able to work on their return at their own pace, with additional help being available if needed.

    How Much Is The Ar Fee For Jackson Hewitt Tax Pro From Home

    How Long Does Jackson Hewitt Refund Take

    For Jackson Hewitt Tax Pro From Home customers in Illinois the AR fee will be $49.95 regardless of time of filing. Disbursement Fee of $0 $30 for AR Office Check or Walmart Direct2Cash may apply. Pick up your tax refund proceeds at participating Walmart locations when using this paperless tax refund disbursement service.

    How do I check if I prequalify for a refund advance?

    Visit Jackson Hewitts website and navigate to the Refund advance page. Click See if you prequalify. Enter your federal tax refund amount from last year and select if you received the full amount. Select if you had money taken out of your taxes for childcare, back taxes or student loans. Select if you filed through Jackson Hewitt last year.

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    When You Will Receive Your 2021 Tax Refund And How To File Electronically

    The IRS states in its FAQ section that most refunds are issued within 21 calendar days. However, theres a disclaimer stating that due to processing issues caused by the pandemic, it may take longer to deliver your refund.

    Additionally, how you file your taxes can affect how long it takes to track the status of your refund. If you file electronically like the vast majority of Americans do you can start tracking your tax refund status within 24 hours of filing on the Wheres My Refund site. However, if you file by mail, your processing time extends to at least four weeks to see your payment status on the site.

    So if you havent filed your taxes yet, you may want to consider filing electronically with a tax service like TurboTax or H& R Block to avoid issues like waiting for months to receive your refund or even losing your tax files altogether. Select ranked TurboTax as the best overall tax-filing software and as the best free tax software. These services can help you maximize deductions and increase your refund.

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    Tips For Faster Filing

    Organize tax documents in a folder as you receive them throughout the year. As soon as you have everything you need, start preparing your tax return. E-filing gets your tax return to the IRS faster, and could result in getting your refund sooner as well.

    If your adjusted gross income is $64,000 or less, you can use the IRS Free File. If you made more than that, or if you just want a little extra guidance in e-filing your taxes regardless of how much you earned.

    Recommended Reading: How Can You File Taxes From Previous Years

    Why The Government Should Just Do Your Taxes For You

    The actual work of doing your taxes mostly involves rifling through various IRS forms you get in the mail. There are W-2s listing your wages, 1099s showing miscellaneous income like from one-off gigs, etc. To fill out your 1040, you gather all these together and copy the numbers in them onto the 1040 form. The main advantage of TurboTax is that it can import these forms automatically and spare you this step.

    But here’s the thing about the forms: The IRS gets them too. When Vox Media sent me a W-2 telling me how much it paid me in 2017, it also sent an identical one to the IRS. When my bank sent me a 1099 telling me how much interest I earned on my savings account in 2017, it also sent one to the IRS. If I’m not itemizing deductions , the IRS has all the information it needs to calculate my taxes, send me a filled-out return, and let me either send it in or do my taxes by hand if I prefer.

    This isn’t a purely hypothetical proposal. Countries like Denmark, Sweden, Estonia, Chile, and Spain already offer “pre-populated returns” to their citizens. The United Kingdom, Germany, and Japan have exact enough tax withholding procedures that most people don’t have to file income tax returns at all, whether pre-populated or not. California has a voluntary return-free filing program called ReadyReturn for its income taxes.

    The Obama administration supported return-free filing, and Ronald Reagan touted the idea in a 1985 speech:

    Unclaimed Federal Tax Refunds

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    If you are eligible for a federal tax refund and dont file a return, then your refund will go unclaimed. Even if you arent required to file a return, it might benefit you to file if:

    • Federal taxes were withheld from your pay

    and/or

    You may not have filed a tax return because your wages were below the filing requirement. But you can still file a return within three years of the filing deadline to get your refund.

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    How To Plan Ahead To Pay Back Taxes

    The best way to avoid paying back taxes is filing your annual tax return during tax season. Take time to review your overall tax situation to come up with strategies for reducing your tax bill and achieving your financial goals.

    If you think you owe back taxes, consider working with a tax professional who can help you gather past tax returns and file any that you may have missed.

    If you think you might owe the IRS when you file your tax return this year or next, consider making estimated tax payments in advance. These payments are generally required for sole proprietors who arent subject to withholding from their paychecks by an employer. Making quarterly estimated tax payments can help you to avoid penalties on your upcoming tax return.

    Turbotax: How Does It Work

    Perhaps the best-known of the digital filing options, TurboTax is the tax-focused baby of Intuit, the same company behind Mint and Quickbooks.

    TurboTax is a perfect option for the taxpayer who wants everything from a full-service expert doing their taxes to someone who simply wants to use the guided software to input information on their own. The service even offers a free option that means youll pay nothing to file state and federal taxes that is, if youre filing a simple tax return, meaning one using only the IRS Form 1040.

    And if you prefer things a little more low-fi, then you may want to invest instead in the , which allows you to install the software on your computer. The cost of the Deluxe CD includes the tax preparation fee for one state and five federal e-filings, although you can prepare and print unlimited federal tax returns.

    As you can see, TurboTax offers much to choose from and has four main pricing tiers, as of December 2022. Heres a little more about how much they cost and what they offer.

    Read Also: How To Calculate Your Taxes On Your Paycheck

    How To Filean Amended Tax Return With The Irs

    turbotax.intuit.comtaxreturn

    Beginning with the 2019 tax year, you can e-file amended tax returns. If you used TurboTax to prepare Form 1040-X, follow the softwares instructions to e-file the

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    Do Your 2019, 2018, 2017, 2016 Taxes in Mins, Past Tax Free to Try! Easy Fast & Secure

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    Who Should Use Turbotax

    Can I Amend My 2017 Tax Return On Turbotax

    Whether youâre an experienced tax preparer or have little knowledge of tax law beyond knowing you need to file, TurboTax makes tax filing easy by walking you through the process with interview-style questions and options for live, on-screen support when needed.

    TurboTax, a product of the financial, accounting, and tax-preparation software provider Intuit, is one of the most popular tax-filing options out there. Its popularity partly stems from its name recognition but also from the companyâs focus on design and offering users plenty of features.

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    What You Get From Turbotax’s Free Version

    TurboTax offers a free version for simple tax returns only it lets you file a Form 1040, claim the earned income tax credit, reconcile your advanced child tax credits and deduct student loan interest. Unlike last year, the free version no longer handles unemployment income reported on a 1099-G.

    The free package also cant handle itemized deductions or schedules 1, 2 or 3 of Form 1040, which means it probably wont work for you if you plan to do things such as deduct mortgage interest, report business or freelance income, or report stock sales or income from a rental property.

    How To Check The Status Of Your Tax Return

    You should be able to check IRS tax refund status roughly 24 hours after you receive confirmation from the IRS that they have received your tax refund via e-File. You will need to wait at least four weeks if you mailed in your tax return.

    The best way to check the status of your federal tax refund is to visit the Wheres My Refund page at the IRS website.

    What you will need:

    • Exact refund amount

    You can also call the IRS at 1-800-829-1954 or 1-800-829-4477 or 1-800-829-1040 and inquire about your tax return status with an IRS customer service representative. Note that the IRS only updates tax return statuses once a day during the week, usually between midnight and 6 a.m. They do not update the status more than once a day, so checking throughout the day will not give you a different result.

    Should I call the IRS to check my federal tax refund status?

    The IRS has stated you should only call them if it has been:

    • 21 days or more since you e-filed
    • Six weeks or more since you mailed your return, or when
    • Wheres My Refund tells you to contact the IRS

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    Import A Pdf For A Prior Year:

    If last year you used other tax software, an accountant, or tax service, youll get the option to import a PDF when youre starting in TurboTax. A PDF imports your personal info and your AGI so you can e-file.

    Select the method you used to file last year and follow the screens. The PDF needs to be your 1040, 1040A, or 1040EZ, and the program accepts PDFs from a range of providers.

    But, if the PDF is password protected or a scan of a hard copy, you wont be able to import. If this happens, dont worry, well guide you through typing in your info.

    *Tip: While you can import a 1040EZ return to a paid version of TurboTax, you cant import prior years to their Free Edition , so you may have to pony up for another edition

    You May Face A Delay If You Claim These Tax Credits

    What is a Tax Refund? – TurboTax Tax Tip Video

    There are a couple of issues that could cause delays, even if you do everything correctly.

    The IRS notes that it can’t issue a refund that involves the Earned Income Tax Credit or the Child Tax Credit before mid-February. “The law provides this additional time to help the IRS stop fraudulent refunds from being issued,” the agency said this week.

    That means if you file as soon as possible on January 24, you still might not receive a refund within the 21-day time frame if your tax return involves either of those tax credits. In fact, the IRS is informing those who claim these credits that they will most likely receive their refunds in early March, assuming they filed their returns on January 24 or close to that date.

    The reason relates to a 2015 law that slows refunds for people who claim these credits, which was designed as a measure to combat fraudsters who rely on identity theft to grab taxpayer’s refunds.

    With reporting by the Associated Press.

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    What Business Deductions Can I Claim As A Freelancer

    If youre self-employed or a gig worker, youre allowed to deduct both ordinary and necessary expenses related to your work, per the IRS. An ordinary expense is one thats familiar to anyone in your industry and claimed by other self-employed tax filers. A necessary expense is one thats absolutely required in order for you to work.

    Depending on the specifics of your work, you can deduct all sorts of expenses. Office supplies, travel costs, software, internet service fees, vehicle expenses, insurance costs, advertising and legal services are some of the most common business expenses for the self-employed.

    Accurately organizing and reporting your business expenses is a good way to reduce your overall tax burden and increase the size of your tax refund. Be warned, however, that self-employed business deductions are a red flag for IRS audits make sure to keep all of your receipts and documentation.

    Years For Filing Back Taxes 3 Years To Claim A Refund

    There might not be a hard limit to how many years you have to file back taxes, but thats not to say that the IRS doesnt want your returns sooner rather than later. You must have filed tax returns for the last six years to be considered in good standing with the IRS. And if you want to claim a tax refund for a past year, youll need to file within three years.

    The IRS will eventually intercede and file a substitute tax return for you if you wait too long and if you had any income during the year in question, and this probably would not be in your best interest. They wont worry about claiming any tax credits or deductions that you might be entitled to. Theyll prepare a rudimentary tax return for you without them, so youll most likely end up owing more than if you had prepared the return yourself or paid a professional to do it for you.

    Youll have some notice before this happens. Youll receive a Notice of Deficiency CP3219N giving you 90 days to either file the past-due tax return yourselfpreparing it with those deductions and creditsor to file a petition with the Tax Court to argue your case.

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