There are times even better than Christmas – like the day that you get your tax refund check. But unlike Christmas, you never know when that exact day will come.
The good news is that the speed of getting one’s tax refund has increased exponentially since the early 1990’s. Back when I was in college, I remember filing my taxes in March or April and then not seeing my paper check refund until as late as June. Plus, there was no real indication of the status of that refund. Information from the IRS was difficult to get in the days before the Internet.
Thankfully, filing taxes has changed quite a bit since 1990. Most significantly, we now have tax preparation software that walks taxpayers through the maze of income streams, tax credits, and overlooked tax deductions. Moreover, with the advent of technological advances, the turnaround time on tax refunds is as
efficient as ever. In 2011, you can get your refund in as little as eight business days after filing.
So when will you get your tax refund? Let’s look at the two best options for tracking your refund and getting an approximate idea of when it will arrive. And then we’ll delve into five areas that can help ensure you will get your refund as quickly as possible.
Tax Refund Status & Tracking
Taxpayers who have a tax deficit or who owe taxes will usually wait until the tax filing deadline to send the required payment, but those of us who are expecting a refund want it now. The IRS has anticipated this strong desire and created two tools to help those of us who are compulsively checking our mailboxes twice a day to see if the refund has arrived.
5 Factors Affecting the Speed of Your Tax Refund