Thursday 23 January 2014

What Your IRS Refund Status May Mean

But don’t panic if you check your IRS Refund Status and it continues to say in process day after day.  What’s more important is that the IRS acknowledges they received your tax return.  If you filed electronically, you should have got an email shortly after filing, let’s say within 24 hours.  It will come directly from the IRS, even if you filed through tax prep software or a walk-in tax preparation services company.  This is the first step, since if they never got your return you’ll have to find out what happened…re-open your tax software account and check to see if you really did finish and file or something went awry at the end and it failed to transmit to the IRS.
Arizona Business Tax Extension
But panicking if, upon checking your IRS Refund Status for you keep seeing that it’s in process, is a bad sign.  It’s a sign that you are counting on your IRS refund for something.  That’s a mistake.  Since the IRS can’t guarantee when refunds are issued, taxpayers should not be purchasing things in hopes that their IRS refunds will come through soon to pay for things.  Similarly, don’t delay your rent payment because you’re waiting for your IRS refund to come through.  You’ll compound your problems and cause yourself to develop an ulcer.  There’s absolutely nothing you can do to make the IRS move faster in processing your return and issuing your refund faster.

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