AccountingToday explains why the newly unveiled postcard tax return isn’t so simple afterall. Click the link below to read more!
Check out this letter for last-minute year-end moves you can make, in light of the Tax Cuts and Jobs Act.
According to the IRS, last year, they issued more than 90% of refunds to taxpayers in less than 21 days, and they expect the same results in 2013.
After your return is filed, you can track the status of your refund, but this year, instead of an estimated due date, you will receive an actual personalized refund date after the IRS processes your tax return and approves the refund.
Initial information generally will be available within 24 hours after the IRS receives your e-filed return or four weeks after mailing a paper return. The system updates every 24 hours, usually overnight. There is no need to check more than once a day.
To use the refund tool, you need to have a copy of your tax return because you will need to know your filing status, and the exact dollar amount of the refund you are expecting in addition to your social security number.