Did I Get a Tax Refund?
The question, “Did I get a tax refund?” may be on your mind if you have not received your tax refund yet. This money can provide a major financial boost – and can be used for a variety of things. Whether you want to consolidate debt, invest in real estate, or take a well-deserved vacation, there is a way to use your tax refund.
Getting a tax refund is always a cause for celebration, but you should be careful not to overpay your taxes. It’s not uncommon to overpay taxes due to a variety of reasons, including overpayment by employers. By making sure you’re filling out employee tax forms correctly, estimating deductions correctly, and updating them regularly, you can avoid paying too much in taxes. If you don’t do these steps, you might actually owe the government money.
Fortunately, the IRS offers a service that can help you keep track of your refund. If you file your federal taxes online, you can check the status of your refund through the Where’s My Refund link. You’ll need to know your SSN or ITIN, as well as the refund amount you claimed on your tax return in the current year. For a quick check, you can also enter the Letter ID number that was included on your recent income tax correspondence.
Another option is to call the Internal Revenue Service to find out whether you’ve received your refund. The IRS has millions of dollars in unclaimed tax refunds. By calling the IRS, you can receive your refund by phone, or by direct deposit. However, you’ll need to wait until Aug. 19 to receive your first check.
Refunds are usually issued within 21 days after the filing of your return, but the actual date of receipt varies greatly. If you file electronically, it is common to receive your refund within six to eight weeks, while if you filed a paper return, it can take up to 12 weeks. If you need to check on the status of your refund quickly, you can also visit the Department of Revenue’s website. However, it’s important to allow plenty of time for the refund to process. You should also keep a copy of your tax return close by.
The IRS allows you to direct deposit your refund to your bank account. This option is the fastest and safest way to receive Federal payments. If you have multiple bank accounts, you can even request that your refund be split among the accounts. Either way, you’ll have to provide your banking information to the IRS when you file your taxes.
However, you can try to get your refund even if you missed the April deadline by claiming it three years later. The deadline for 2021 returns is April 18, 2022.