One of the top questions that taxpayer’s research from the middle of February until April 15 is when they will receive their income tax refund. This answer depends on a few things; however, the good news is there are numerous tools that can assist you with an estimation date.
First, if you file your tax return with a tax professional you can ask them to provide you with an estimated date. Additionally, once you have filed your return you can go to the official IRS website and they have a tool called, “Where’s My Refund?”, that gives out estimation dates.
The IRS started processing returns on January 31 2014, for all of the taxes paid and owed during the year of 2013. The IRS says that they usually try to get refunds processed and issued within 21 days for those who e-file.
However, keep in mind the 21-day period is not set in stone. Additionally, if you paper file you may have to wait much longer. Both tax professionals and the IRS always recommend that taxpayers file their tax returns electronically.
How quickly you receive your tax refund depends on when you file and whether or not you opted to get a paper check or direct deposit. Sometimes there is increased traffic when many taxpayers file their taxes at the same time.
Therefore, when tax season is at its busiest the wait for funds can be delayed longer than the 21-day period. In addition, this happens to filers who wait to file the last week before the April 15 filing deadline.
The tax refund chart has the estimated dates you will receive your refund. Additionally, if you have not filed your taxes yet we recommend that you file with the Turbo Tax discount and save money as well as getting your largest refund ever.