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Is My Tax Refund on the Way?

By: Rich Chappo, Posted on: 2007-05-06

Well, you survived the tax deadline this year. Many people had to pay money to the IRS, but just as many had a refund do. If you fall in this group, you might be wondering when your tax refund is going to come.

In truth, a tax refund is not a good thing. Yes, you read that correctly. How could it be a bad thing? If you get a tax refund year after year, then there is a problem with the amount of money you are paying in. This is especially true if the refunds are large.

Imagine overpaying your car payments by $500 dollars a year and then getting a refund at the end of the year. Think that is smart? Well, it is exactly what you are doing when you overpay your taxes. If this sounds smart, I would like to borrow some money from you.

So, you want to know how to find out about the status of your tax refund payment. It is actually pretty easy. The IRS has a reputation for being way behind when it comes to technology. It is, but it also has a very good website where you can get lots of info.

The first step to finding out about your refund is to visit the site for the IRS. You can find it by doing a search for IRS in any search engine. Displayed prominently on the home page you will see a link for finding out about your refund. Click it.

At this point, you need to dig out the great American novel…err, tax return you filed. You need your SSN, specific refund amount and filing status information. You have to click the link called wheres my refund at the bottom of the page to get to the form.

Once you fill out the form, the program will grind along for a few seconds and then kick out a status answer. There are three possible answers. The date the refund is issued. A problem with mail delivery to you. A problem with your tax return delaying the issuance.

Obviously, an indication there is a problem with your return is not good news. Before you faint or hit the bottle, take a deep breath. The problem can be anything from a IRS computer glitch to a folded page the computer couldn’t read. It is not Armageddon time.

Even if you are audited, it is important to know that most audits are correspondence audits. You will get a letter in the mail raising some issue with your return. You can agree to the proposed change by the IRS or contest it.

A tax refund is glorious thing in the view of most people. There is nothing wrong with that view so long as you realize the feds are getting a free loan from you each year. Giving politicians free loans seems dubious to me, but to each their own.

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