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Tax Refund – When Is It Coming?

Well, you survived the tax deadline this year. Many people had to pay money to the IRS, but just as many had a refund do. If you fall in this group, you might be wondering when your tax refund is going to come.

Before we go much further, it is important to understand something about tax refunds. If you receive a sizeable refund each year, you need to think through your tax payments. A large refund each and every year is a sign that you are making a mistake in paying taxes.

How could a large refund each year be a bad thing? Well, you need to consider that the money you are getting back was originally your money. The IRS is not paying you interest on it, so you are effectively giving the government a free loan each year.

Regardless, you want to know about your tax refund this year. No problem there. The IRS has made it a relatively simple task to figure out the status of your tax refund. Yes, shocking, but true. The IRS is actually being helpful. The end of the world must be near.

The first step to finding out about your refund is to visit the site for the IRS. You can find it by doing a search for IRS in any search engine. Displayed prominently on the home page you will see a link for finding out about your refund. Click it.

At this point, you need to dig out the great American novel…err, tax return you filed. You need your SSN, specific refund amount and filing status information. You have to click the link called wheres my refund at the bottom of the page to get to the form.

Fill out the form and the program should kick out a status report for your refund. It will tell you a proposed date of issuance, if it had a problem delivering the refund or if there is a problem with your tax return. Pray this last one does not come up.

Obviously, an indication there is a problem with your return is not good news. Before you faint or hit the bottle, take a deep breath. The problem can be anything from a IRS computer glitch to a folded page the computer couldn’t read. It is not Armageddon time.

What if you are one of those people that had their return tagged for an audit? This may not be as bad as you think. The IRS is under budgeted and understaffed. Most of the time they just send a letter with a proposed change. Agree to the change and the audit is over.

Most people are very happy to receive a tax refund. After all, who couldn’t use a bit of extra cash. While this makes sense at first glance, any type of large refund should cause you pause. You are giving the government a free loan each year.

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