How to Check
the Status of Your Tax Refund Online
by: Richard A. Chapo
So, you were pleasantly surprised to learn that
you are getting a refund on your taxes.
Congratulations! The IRS expects to issue
approximately $54 billion dollars in refunds for the
2003 tax year. The question for most taxpayers
expecting a return is, "Where is my refund?"
Check Your Refund Status Online
The easiest way to check on your refund is to ask
the IRS through IRS.gov. On the home page of the
site, you will see a "Where's My Refund?" link.
Using the service is fairly easy. You will need a
copy of your tax return to provide the necessary
information to get the status of your refund.
Specifically, you need to provide your social
security number, you tax filing status and the exact
amount of your refund. The reason the IRS requires
all of this information is purely for security
purposes, to wit, the agency wants to make sure it
is giving access only to the taxpayer. Again, all of
this information should be on your return. If it is
not, something is very wrong!
Once you submit the required information, the IRS
will provide online results typically showing:
1. That the return was received and is in
processing;
2. The expected mailing date or direct deposit
date of your refund; or
3. Whether your refund could not be issued
because of a delivery problem.
In some cases, the results may alert you to the
fact that the IRS is reviewing your tax return
because of errors or questionable entries. In such a
case, it is highly advised that you review your
return with a qualified tax professional and make
absolutely sure that the return will stand up to
scrutiny.
How Long Do You Have To Wait Before Checking?
If you filed your tax return electronically, you
should be able to access the status of your refund
within 48 to 72 hours. Since the return is coming
into the database electronically, it should be
assimilated into the system fairly quickly. If you
do not file your return electronically, you are
going to have to wait three weeks or more before the
status of your return can be checked. As you can
imagine, the IRS is receiving an enormous amount of
paper tax returns and it takes time to organize and
enter the returns into the system.
How Long Should It Take To Receive Your Tax
Refund?
If you are expecting a refund, the time to issue
the refund will depend upon how you filed your
return. If you filed a paper return via regular
mail, you refund should be issued in six to eight
weeks from the date it was received by the IRS.
Alternatively, if you filed your return
electronically, you should expect to receive your
refund in three to four weeks. If you elected to
have your refund directly deposited in your banking
account, you should take one week off of the above
estimates. |
