How Long Does A Tax Refund Take

How Long Does A Tax Refund Take

The length of time a tax refund is processed depends on two things: the way taxes are filed and the chosen form for the refund. The two ways to file taxes are through the mail and electronic filing (e-file). The forms to choose from for refund are check, direct deposit and, as of 2011, purchasing savings bonds. These factors will affect how fast or slow the refund will come. Here’s the best way to know how long does a tax refund take.

• If you e-file your tax return and choose a check refund it should be at your house three weeks after the day the IRS receives the return.
• If you e-file your tax return and choose a direct deposit refund it should be at least a week after the day the IRS receives the return; no more than three.
• If you e-file your tax return and purchase savings bonds with it you can have the choice to spend all or part of the refund. It is important that Form 8888 is attached to the return. Choose the amount of money to be spent on savings bonds. Unless you want all of it will be spent on savings bonds the remainder of the refund must come in the form of a check or direct deposit. The remainder will come first; the savings bonds will come three weeks after.
• If you mail in your tax return and choose a check refund it should be at your house in six to eight weeks after the day the IRS receives the return.
• If you mail in your tax return and choose a direct deposit refund should be at least two weeks after the day the IRS receives the return; no more than six.
• If you mail in your tax return and purchase savings bonds with it you can have the choice to spend all or part of the refund. It is important that Form 8888 is attached to the return. Choose the amount of money to be spent on savings bonds. Unless all of it will be spent on savings bonds the remainder of the refund must come in the form of a check or direct deposit. The remainder will come first; the savings bonds will come three weeks after.
• All amended returns will take eight to twelve weeks right after the IRS receives the return.

Why does it take so long to get a tax refund? That’s because the time is used to analyze the return. The IRS wants to make sure everything is filled out correctly and the math is accurate. Paper checks take longer to process than direct deposit. That’s because direct deposit doesn’t involve printing services to create the check. Purchasing savings bonds does not affect how long does a tax refund take because that is handled by the Treasury Retail Securities Site not the IRS.

If the refund is past the due date have a talk with the IRS. Call them, and have the social security number, refund amount and filing status ready just in case you are asked to provide that information. More than likely there has been a delay, and sometimes it is not the IRS’ fault. A number or name may be written incorrectly or the IRS tax representative can’t read the writing at all. The math may be incorrect because you forgot to add something. The math may be incorrect because you added something that you are not allowed to claim. You may not have added the correct attachments (w2, Schedule c, etc.). You may also forget to sign your name on the tax form. The automated machine should tell you when the refund is coming–if it has been processed. You should call next weekend if there isn’t a date set for the tax return. To make sure your name is in the system call three days after e-filing and three weeks after mailing.

All in all it should not take reasonably more than a month and half for most people, although usually 3 weeks is average in some states. Again, make sure everything is accurate, and be sure to be truthful, because how long does a tax return take, is different than how long does a fraudulent tax return take, which is the subject of another article.

How Long Does A Tax Refund Take