What About My State Tax Refund
What weve covered so far applies to federal tax refunds. As you might expect, every state does things a little differently when it comes to issuing tax refunds and its not possible to say for sure when everyone will receive their state tax refunds. Although, state refunds often come faster than those being processed through the federal system. This isnt always the case, but it often is.
Generally, you can expect to receive your state tax refund within 30 days if you filed your tax return electronically. If you filed a paper tax return, it may take as many as 12 weeks for your refund to arrive. To find out the status of your refund, youll need to contact your state tax agency or visit your states Department of Revenue website.
Income Tax Refund Information
You can check the status of your current year refund online, or by calling the automated line at 260-7701 or 1-800-218-8160. Be sure you have a copy of your return on hand to verify information. You can also e-mail us at to check on your refund. Remember to include your name, Social Security number and refund amount in your e-mail request.
If you’re expecting a tax refund and want it quickly, file electronically – instead of using a paper return.
If you choose direct deposit, we will transfer your refund to your bank account within a few days from the date your return is accepted and processed.
Electronic filers
We usually process electronically filed tax returns the same day that the return is transmitted to us.
If you filed electronically through a professional tax preparer and haven’t received your refund check our online system. If not there, call your preparer to make sure that your return was transmitted to us and on what date. If sufficient time has passed from that date, call our Refund line.
Paper filers
Paper returns take approximately 30 days to process. Keep in mind that acknowledgment of the receipt of your return takes place when your return has processed and appears in our computer system.
Typically, a refund can also be delayed when the return contains:
- Missing entries in the required sections.
- An amount claimed for estimated taxes paid that doesn’t correspond with the amount we have on file.
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Splitting your Direct Deposit
Paper filers
How Long Should It Take
On Wednesday, after the release of the National Taxpayer Advocate report, the IRS took issue with the backlog inventory numbers in report, stating that the numbers are “neither the most accurate nor most recent figures.”
“Newer numbers through June 10 demonstrate that the IRS is ahead of tax return processing compared to a year ago,” the IRS said, stating that the agency continues to make substantial progress.
The IRS said 19.13 million paper returns amended and original returns awaited processing as of June 10. That’s down slightly from 19.88 million paper returns in the pipeline at the same time a year ago.
Of the total, however, IRS numbers indicated that 11.2 million individual paper returns awaited processing as of June 10, up from 9.6 million similar returns at the same time last year.
The tax deadline was extended until May 17 during the 2021 season and April 18 last year.
Efforts have been helped, the IRS said, by hiring more workers, adding new contractor support, shifting existing staff, providing mandatory employee overtime and developing efficiency improvements.
Only one number matters to taxpayers, of course, and it is the one that shows up in their bank account for their tax refund. And tax refunds are not arriving quick enough for many who filed paper returns.
In general, the IRS issues refunds within a few weeks to a month. Paper returns take longer than electronically filed returns, even if there are no mistakes or issues.
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Estimated Income Tax Refund Date Chart
Will the 2022 tax filing season be normal? According to tax attorney Ken Berry, its not likely that when Spring 2022 comes around that everything will be like it was in 2019 or before. Covid-19 will still be a concern, several stimulus tax laws will still be challenging for some filers, and new tax laws may very well be created between now and then that add more complexity.
But the income tax filing process will likely be closer to normal than either 2020 or 2021 were, which both had extended filing deadlines due to closures of IRS offices, the tax courts, and IRS and tax firm staff being new to remote working.
In other words be ready to have your taxes filed by Friday, April 15, 2022. The good news is that the federal and state income tax returns filing process should be closer to normal, as well. Depending on when a taxpayer files, they can often receive their tax refund payments within only 2-3 weeks.
Traditionally , the IRS starts accepting tax returns during the last week of January. If major new tax legislation is passed at the end of the year, however, this could push the start of tax season back by a week or two. So, early tax filers who are a due a refund can often see them as early as mid or late February. However, taxpayers with the Earned Income Tax Credit or Child Tax Credit generally have their refunds delayed by about one month while the IRS confirms eligibility for these credits.
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Other Notes:
Additional Child Tax Credit
This credit effectively gave you a refund if the CTC reduced your tax bill to less than zero. The ACTC is largely phased out, but if you need to file a return for a tax year previous to 2018, you can find information for the ACTC on the Form 1040.
Starting with the 2018 tax year, there is an additional $500 Credit for Other Dependents . This allows you to claim non-child dependents, such as a parent, and dependents who are college students . The eligibility requirements are very similar but you cannot claim the ODC for a dependent who qualifies for the CTC.
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Due Date To Claim Income Tax Refund
Income tax refunds must be claimed within one year from the date on which the assessment year ends. However, in certain cases, assessing officers tend to entertain refund claims that were filed after the specified due date. Here are some points you need to keep in mind:
- Income tax refund claims will not be considered if six successive assessment years have been completed.
- The refund amount must be less than Rs.50 lakh for a single assessment year.
- Interest will not be offered on refund of late claims.
- If the delayed claims require verification, the assessing officer could reconsider the claim.
How To Get One Of These Tax Refunds
Here’s the story behind the surprise refunds: Millions who lost their jobs last year because of the pandemic were forced to file for unemployment as businesses closed or cut back operations.
Normally, jobless benefits are taxed like any other income. But the COVID-19 rescue package Biden signed in March has made up to $10,200 in 2020 unemployment compensation tax-free for individual taxpayers. Couples filing jointly get a $20,400 exclusion.
If you collected unemployment last year and filed taxes ahead of Biden’s relief law, you may have overpaid based on what you thought you owed. So, you may have a refund coming, though only if your adjusted gross income was under $150,000.
Some 40 million Americans received unemployment payments in 2020, according to the Century Foundation, and the average beneficiary got $14,000. Of that, $10,200 is now tax-free leaving only $3,800 that’s taxable.
In early June, the IRS said it had identified 13 million taxpayers who were potentially eligible for the adjustment. If you’ve been hoping for a fourth stimulus check, one of these refunds might be the next best thing, for now.
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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, there’s 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 Where’s 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 haven’t 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.
Also keep in mind that you can file your taxes online for free through the IRS if your adjusted gross income was less than $73,000 in 2021.
Why You Get A State And Federal Tax Refund
There are different reasons why taxpayers get refunds, and in other cases owe money to the government. If you work for an employer, you were required to fill out a W-4 form when you were hired. On that form, you indicated the amount of taxes that needed to be withheld from each paycheck.
Taxpayers receive a refund at the end of the year when they have too much money withheld. If youre self-employed, you get a tax refund when you overpay your estimated taxes. While you might consider this extra income to be free money, its actually more like a loan that you made to the IRS without charging interest. Conversely, you will owe the government money if you underestimate the amount to taxes.
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How Should You Request To Receive Your Refund
The IRS gives you three options for receiving your refund:
- deposit into US Savings Bonds
You can also apply a refund to any future taxes owed. This is a popular choice among some small business owners who are required to pay estimated taxes.
Of the three refund options available to you, direct deposit is the fastest and safest option. You can receive your refund via an ACH bank transaction in as little as a few days. Paper checks, however, can take over a week to process, several days to travel via the postal system, and several days to clear your bank.
*Note: Some tax software companies also offer the option of receiving a tax refund on a prepaid debit card. Im not particularly fond of this option, but it is available to some tax filers. In this case, the refund is first sent to the tax preparation company, then they issue you the prepaid debit card.
How Long Will My Refund Information Be Available
- For U.S. Individual Income Tax Returns filed before July 1: Around the second or third week in December.
- For U.S. Individual Income Tax Returns filed on or after July 1: Throughout the following year until you file a tax return for a more current tax year.
If your refund check was returned to us as undeliverable by the U.S. Post Office, your refund information will remain available throughout the following year until you file a tax return for a more current tax year.
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Understanding Your Tax Refund Results
Our tax return calculator will estimate your refund and account for which credits are refundable and which are nonrefundable. Because tax rules change from year to year, your tax refund might change even if your salary and deductions dont change. In other words, you might get different results for the 2021 tax year than you did for 2020. If your income changes or you change something about the way you do your taxes, its a good idea to take another look at our tax return calculator. For example, you mightâve decided to itemize your deductions rather than taking the standard deduction, or you couldâve adjusted the tax withholding for your paychecks at some point during the year. You can also use our free income tax calculator to figure out your total tax liability.
Using these calculators should provide a close estimate of your expected refund or liability, but it may vary a bit from what you ultimately pay or receive. Doing your taxes through a tax software or an accountant will ultimately be the only way to see your true tax refund and liability.
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How Will I Receive My Automatic Taxpayer Refund
How you receive your Automatic Taxpayer Refunds depends on information in your 2021 Indiana Individual Income Tax return. Your Automatic Taxpayer Refunds are separate from other payments or refunds you may receive from the state.
You should have received your $125 Automatic Taxpayer Refund by direct deposit if:
- you filed an Indiana resident tax return for 2020 before Jan. 3, 2022
- filed a 2021 Indiana resident tax return by April 18, 2022 and
- listed direct deposit checking or savings account information for your 2021 Indiana Income Tax refund.
DOR issued the first and largest round of initial $125 ATR direct deposits in May and issued the third round of ATR direct deposits on July 1, 2022.
DOR provided information for almost 1.5 million taxpayers to the states banking institution on Aug. 16. Direct deposits could arrive as early as Aug. 19. There are several factors that affect the time it takes for this process that are outside DORs control. We expect most ATR direct deposits to arrive in Hoosiers bank accounts on or around Aug.. 24.
The Auditor of State’s Office began printing Automatic Taxpayer Refund checks on Aug. 15. With roughly 50,000 checks printed each day, they anticipate mailing all 1.7 million refund checks by early October.
You will receive a check from the Auditor of States Office if:
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Whos Eligible For The 2022 Massachusetts Tax Refund
If you paid personal income taxes in Massachusetts in 2021 and filed your 2021 Massachusetts tax return by October 17, 2022, you are eligible to receive a 2022 Massachusetts tax rebate by the end of the year.
However, if you haven’t filed your Massachusetts tax return, you still have time to do so. As long as you file by September 15, 2023, you can still receive the 2022 Massachusetts tax refund,according to state officials.
When And How Will The Massachusetts Tax Refunds Be Sent
State officials say that eligible Massachusetts taxpayers will start to see tax refund money beginning November 1. . And if you filed your Massachusetts tax return by October 17, you dont need to do anything else to receive the 2022 tax refund.
The Massachusetts tax refund will either arrive in a mailed check or be sent via direct deposit if the state has your banking information available. Direct deposits will be labeled MASTTAXRFD. And state officials say that tax refund payments will continue to be sent on a rolling, but random basis through December 15.
There is a calculator on the states website to help you estimate how much your tax refund will be. The website also contains answers to frequently asked questions about the 2022 Massachusetts tax refunds.
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File Your Tax Return Electronically
Combining direct deposit and electronic filing can greatly speed up your tax refund. Since filing electronically requires a tax software program, it can flag errors that may cause processing delays by the IRS. These errors can include incorrect Social Security numbers, dependents dates of birth, and misspelling of names.
You can electronically file your tax return for free using the IRS Free File Program if your adjusted gross income is less than $73,000. Most simple tax returns can also generally be filed for free with commercial tax software providers, although you may be charged to file your state taxes.
If your tax situation is more complicatedif you sold property, paid business expenses or earned investment or business income, for exampleyou should consider hiring a tax professional. Having a knowledgeable tax professional, such as an enrolled agent, certified public accountant , or other tax professional, can help review your tax return and identify any mistakes that may slow down the processing of your tax refund.
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Tax Refund Calculator: How Much Will Margaret Get Back In Taxes
How much does she stand to get back?
Subtract the red circle from the blue for the refund.
Uncle Sam might owe Margaret $14,465 when all is said and done. And if her situation doesnt change in 2021, her refund will actually grow to $20,584.
NOTE: Everyones tax situation is unique and any online tax refund calculator will, at best, provide you with a rough estimate of how much youll get back. The two examples above are incredibly simple and dont fully capture the nuances of someones actual financial situation.
Play around with them and be as specific as you can. The more details you can provide the better of an idea youll have of what youll receive for your refund.
So now you know roughly how much youll be getting back and youre ready to collect the money Uncle Sam owes you.
Before you hoist your Dont tread on me flag and march down to the IRS building to get your money, you should know about all the ways you can get your tax refund.
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