Federal Tax Refund Information
The Internal Revenue Service provides several online resources to taxpayers for federal tax refund information. These resources provide helpful information about options for receiving your tax refund, how to check the status of your refund and what to do if there is a discrepancy in your tax refund amount. The IRS will also provide assistance in obtaining a replacement check if your tax refund was lost or stolen.
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Options
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There are two different ways you can elect to receive your federal tax refund. You can receive a paper check or have the funds electronically deposited into a checking or savings account. If you choose to receive a paper check, you should receive your refund within six weeks of filing your return. Electronic filers who choose direct deposit for their refund method should receive their refund within three weeks of filing.
Checking Your Refund Status
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The IRS provides a free resource called "Where's My Refund." Taxpayers can use this online tool to check the status of their refund. To use this tool, you must wait 72 hours after e-filing your tax return or three to four weeks after mailing in a paper return. You will need to provide your Social Security number, the exact dollar amount of your refund and your filing status. This site also has resources available for changing your address and filing a claim for a replacement check. To file a claim for a replacement check, you must wait at least 28 days from the date the refund was mailed.
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Refund Tips
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For low-income tax payers, there are five specific tax credits. Make sure you are claiming all of the tax credits you qualify for to receive the largest refund amount. Some of the tax credits you may apply for include educational tax credits, earned income credit, child tax credit and child and dependent care tax credit. A tax preparer may be able to help you determine if you qualify for any of these credits.
Refund Amount Discrepancies
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If you receive a larger tax refund than expected, you should not cash the check until you have received correspondence from the IRS explaining the difference. If the refund amount is smaller than expected, you are allowed to cash the check. If the IRS determines that you are owed more money, you will receive a check for the difference. For questions about refund amounts, wait two weeks after receiving your refund before contacting the IRS.
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References
Resources
- Photo Credit tax forms image by Chad McDermott from Fotolia.com
