How Long Does it Take to Get Tax Refund

Tax refunds are much awaited when you have a tight budget to run. In this article I discuss how long does it take to get income tax refund back in the USA. The information that I present here is garnered from the Internal Revenue Service (IRS) information that has detailed guidelines on every taxation related query for US citizens.

Managing the taxation system and running it efficiently is important for the US government as it needs to replenish its coffers. The IRS handles the whole gamut of operations related to taxation. It has fixed time frames regarding all facilities including deposition of tax refunds. If you are wondering when will I get my tax refund, keep reading ahead.

What is a Tax Refund?

For the sake of completeness and for those of you who are applying for a tax refund the first time, let me explain what it is all about. In case your tax liability is lesser than the tax return you file, you are eligible for the difference to be paid back to you as a tax refund. Several types of tax deductions can lower your tax debt. Refer to the IRS tax deductions list before you go for filing. When you have filed your return, there are two ways in which you can have the refund back. IRS returns your tax refund in the form of a paper check if you request so.

Another option available to you is, requesting a direct electronic fund transfer to your chosen account. There is one more option for people with multiple bank accounts. By filling a Form number 8888, you can request IRS to deposit your tax refund in three separate accounts at most. These accounts may be retirements accounts, savings accounts or checking accounts.

If you want to know about the status of your tax refund, just refer to the IRS information. By entering the social security number, filing status and exact refund amount displayed in your return, you can know about your refund status. IRS has a fixed tax refund schedule which is strictly followed. It is important that you understand how to calculate tax liability. I talk about how long does it take to get a tax refund, in the next section.

How Long Does it Take to Get Tax Refund Back?

IRS has set fixed time frames for deposition of your tax refunds depending on the mode of tax return you have opted for. If you have filed your tax return on paper and sent it by snail mail to IRS, you are bound to receive your tax refund within 6 weeks after date of receipt. The tax refund can be had within this time frame, provided you have entered all the information correctly and there are no errors.

Electronic filing of return gives you an advantage when it comes to receiving your tax refund. The IRS ensures that you get your tax refund amount within three weeks after date of filing, if you have filed the return electronically. Tax refunds on amended return takes longer to be processed and received. In case you have filed an amended return, you can expect your tax refund to take about eight weeks to be deposited in your bank account or received by check.

In case, you have made a spouse injury claim, you can expect the tax refund to take even longer due to the greater processing time. For more information in this matter, check out the IRS website. If it so happens that your tax refund is unusually delayed, the reason might be some error you made while filing your return. You should contact the IRS authorities through their help line numbers made available on their website.

After going through this article, I hope that there is no more confusion regarding how long does it take to get a tax refund deposited in your account. In case, you have any additional queries, you are requested to seek IRS officials and advice regarding the same.