Tax Refunds - Online Income Tax Return Filing, Fast Tax Refund.

Get Fast Tax Refunds, Income tax return preparation for federal and state taxes with Free IRS e-file. Get Rapid Tax Refunds with easy online tax filing.

When Tax Refund is Coming?

Tax season is finally over for most people and that means one of two things. Either you paid money in or you are due a nice refund. If you fall in the refund group, the question is when will that nice check appear in the mail? A quick word about tax refunds. While getting one may seem the greatest of things, it actually should cause you to take some time and analyze how you are paying taxes. Simply put, a tax refund means you are doing something wrong, particularly if it is large.

To find out the status of your tax refund, the easiest method is to visit the IRS site. Just do a search for it. Once there, you want to click on the link that says where’s my refund? It is on the home page and prominently displayed. Now, you need to get out your tax return. Yes, the one you just filed and should have made a copy of. You need it because the IRS form will ask for the amount of the refund you are claiming, the filing status you claimed and your social security number. 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 Returns delaying the issuance.

How could a large refund each year be a bad thing? Well, you need to consider that the money you are getting back was originally your money. The IRS is not paying you interest on it, so you are effectively giving the government a free loan each year. Okay, enough about that. You are due a Tax Refund and want to know when it is going to show up. Do you have to call the IRS? Nope. Despite its reputation for having technology from the stone age, the IRS has a great website you can use for this purpose.

There are more than a few funny quotes about the joy of tax refunds. While funny, they are misguided. I personally prefer not to give the government a free loan in the first place. If you get big refunds each year, make sure to adjust what you are paying in.

Rapid Refunds Rapidly Take Your Money

At tax time, most Americans find themselves expecting a refund. That's no surprise, as most people have too much money withheld from their paychecks. It would be a simple matter to adjust the withholding so that the amount of money withheld is roughly equal to the amount of tax owed, but most people are content to get a refund check every spring.

Until relatively recently, when a taxpayer had a refund coming, he or she had to wait two months or so while the refund was processed and the check mailed. In recent years, however, major tax preparers have come up with a profitable alternative that keeps the taxpayer from having to wait so long the Rapid Refund.

The rapid refund, also known as a refund, is a loan given by the tax preparing company that is backed by the refund itself as collateral. The taxpayer that agrees to the service will receive his or her refund, less a service fee, often in as little as 24 hours.

On the surface, this might seem like a great idea. Pay a fee, and get the refund now instead of later. But there are some problems with this service that many people either don't know about or overlook:

# The fees are high; they average about $100 per refund.
# When the fees are considered as interest, the interest rate can amount to more than 500% annually, a rate comparable to those of payday loans.
# The people who elect to take the rapid refunds are often the people who can least afford them, so the process tends to take advantage of the poor.
# The fees you pay for the rapid refund aren't getting you your refund that much faster Professional tax preparers usually file returns electronically, so the refunds, without the extra service, can often be had in as little as ten days.
# You are paying someone to lend you your own money!

If you really, really need your refund quickly and you don't mind paying a hefty fee to get it a few days sooner, then go ahead and buy the rapid refund. For most people, however, the service is a poor investment.

Tax refunds

If the tax you owe is less than the total of the amount of refundable tax credits that you can claim and the amount of the withholding that you paid, then you can expect a tax refund. Why? The most recent tax law provided for a new 10% tax bracket. This means that, depending on your tax category, the first $6,000 to $12,000 of your earnings will be taxed at 10 percent instead of 15 percent. To a lot of Americans, this seems like good news. But is it really?

Many financial experts are quick to interpret the tax refund as a loan that the government borrowed from you – a loan that it is now paying back to you, interest-free. For this reason, some people see tax refunds as an inadequate premium. It is nothing more than excess money you paid, which the government used, and is now giving back to you with no interest.

For a greater majority, however, tax refunds are mere ‘savings’ – money that the government kept for you that you are now going to get back for use in other things. Many Americans are pleasantly surprised to receive tax refunds each year. Most people use the money to pay off debts, beef up savings accounts, and even go on vacations.

To get your tax refund you have three options. You can either let the government directly deposit your tax refund into your bank account, have a check mailed to you, or apply your refund to next year's income tax. Start to Do taxes Online.

Unclaimed Tax Refunds: How To Claim Yours

When a taxpayer owes money on their taxes they need to pay the amount owed before the traditional April 15th deadline. If the amount owed on taxes is not paid before the deadline, then federal and state governments can impose a number of late fees and penalties. While there are penalties for failing to a pay taxes on time, there are no penalties assessed to individuals who are due a refund but fail to file their tax returns on time.

Tax season is a stressful time for many taxpayers. With hectic lives and busy schedules it is likely that an individual may not find the time to have their taxes prepared. As previously mentioned, there is the chance of late fees and other additional penalties for individuals who owe taxes; therefore, many individuals who are expected to owe money are more likely to find the time to have their taxes completed on time than those who do not. There are no penalties for taxpayers who are expected to receive a refund to file their taxes late; however, there may be another problem that arises. That problem is what is known as unclaimed tax refunds.

Unclaimed tax refunds are tax refunds that are due to a particular taxpayer; however, they failed to claim them. Unclaimed tax refunds often result when a busy taxpayer who expects a tax refund puts off sending in their tax forms until it is completely forgotten about. Although the majority of Americans look forward to the day that their tax refund arrives, there are still many others who allow their refunds to become unclaimed tax refunds. It is estimated that hundreds to thousands of individuals each year fail to file tax returns which would result in them receiving a refund. Filing a tax refund is a fairly simple process. For under thirty dollars an individual can purchase a tax software program offer Free Federal Tax Preparation . Most taxpayers can prepare their own paper taxes by filling out a federal 1040A or a 1040EZ form. Each of these forms is likely to take less than an hour for the average taxpayer to complete.

A taxpayer has until three years after the year that they were supposed to file their tax return to claim their refund. For taxpayers to get their refund they have to file the federal or state tax return forms that they previously failed to file. Since the tax laws change from year to year, a taxpayer looking to reclaim their unclaimed tax refund must use a tax form for the year they missed. By visiting the website of the Internal Revenue Service (IRS) at http://www.irs.gov, an individual can find and download old federal tax forms. The same can be done with most old state tax forms. To do so individuals are encouraged to visit the website of their state tax department and then download the specific forms they need.

It is hard to imagine why a taxpayer would not want to claim their tax refund. Unclaimed tax refunds do not benefit anyone but the federal or state government. A tax refund is money that is owed to a taxpayer because he or she paid too much in taxes. Why pay more money in taxes than you have to? Act now before your money is forever known as one of the many unclaimed tax refunds.

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