Are you using TurboTax this year to prepare your taxes? It seems that Intuit's flagship TurboTax Deluxe product has garnered particularly bad reviews this year.
Anyway, if you are wondering when you can expect to receive your tax refund from the IRS, you are not alone. In past years, the IRS published a table where you could look up when your federal tax refund would be deposited in your bank account (by direct deposit), or when your check would be mailed. It seems that this document, Publication 2043, either doesn't exist or doesn't provide a table anymore. From previous years, the IRS reported that most refunds were issued 7-15 days after the IRS tax return was accepted. Also, they stated that 90% refunds were issued in less than 21 days last year. The same results are expected in 2015.
You can also check the status of your income tax refund using this link. (And of course, en Español: ¿Dónde está mi reembolso?) You will need to enter your social security number, filing status, and refund amount to see your refund status.
I've heard some anecdotal stories about the IRS a long time to process refunds in 2014. So I will be curious how the IRS does this time around.
If you haven't prepared your tax return yet, I encourage you to use either TurboTax or H&R Block Software. But, based on the negativity surrounding TurboTax, TT users may want to reconsider switching to H&R Block.
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Friday, February 13, 2015
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