An IRS Tax Refund is a great way to start the new year! Whether you are looking at a refund you deserve from a Federal Income Tax or a State Income Tax you can’t beat the feeling knowing you get money back instead of owing more to the government!
IRS Tax Refund
When you file your taxes you generally have to wait 6 to 8 weeks for a Federal IRS Tax Refund to be processed and sent to you.
Even then there can be delays, problems with fund availability or problems with your filing which could delay it even more.
Different state returns can take less or even more especially given the financial position of most state governments these days.
Don’t want to wait? Need the money sooner? Check out the RAL options you probably qualify for to get your money faster!
So what is an IRS Tax Refund?
In the United States, the Internal Revenue Service (IRS) is a tax collection agency the government formed to collect taxes, provide forms for filing taxes, and when necessary they issue refunds for overpayment of taxes.
Nobody likes to pay more taxes than what is necessary so when you overpay taxes or you have an earned income tax credit you want your money back – that is in the form of a refund check, but only after you’ve filed the correct form with the irs. The most common form is a Form 1040 or you might have heard of Form 1040ez.
Once you file for your refund, you must wait until it is acknowledged and processed. Want to know where the irs is in the process? You can check the status…
IRS Tax Refund Status Check
There are multiple ways to check the status of your federal refund.
- irs.gov interactive tools
- A Toll-Free number – for 2011 and 2012 it is 800-829-1954
- Smartphone apps – find free IRS2Go in the Apple App store
A Refund Anticipation Loan is a good option to get your IRS Tax Refund into your hands as quickly as possible.