What is a Tax Return?
Tax returns are documents that taxpayers submit to the IRS and other tax agencies, typically annually. They are used to report income, deductions, credits, and other information related to taxes. Depending on the taxpayer’s situation, they may receive a refund or owe additional taxes. Tax returns are essential for individuals and businesses to stay in compliance with tax laws. It is important to note that it can take several weeks or months for the IRS to process a tax return.
How to Check the Status of Your Tax Return
The best way to check the status of your tax return is to use the IRS’s online tool “Where’s My Refund?”. This tool allows you to check the status of your refund, as well as its estimated arrival date. To use the tool, you will need to provide your Social Security number, filing status, and the exact amount of the refund you are expecting. Once you have entered the appropriate information, the tool will tell you the status of your return.
What is the Status of Your Tax Return?
Once you have entered the appropriate information into the “Where’s My Refund?” tool, you will be presented with one of the following statuses:
- Return Received
- Refund Approved
- Refund Sent
Return Received
The “Return Received” status means that the IRS has received your tax return. At this point, they are processing your return, and you should expect to receive a refund within a few weeks. If you are expecting a refund, you can use the “Where’s My Refund?” tool to check the status of your refund. However, if you are expecting to owe additional taxes, you will need to wait until the IRS processes your return before you receive an estimate of the amount due.
Refund Approved
The “Refund Approved” status means that the IRS has approved your refund and it has been sent to the bank or other financial institution that you specified on your tax return. At this point, you should expect to receive your refund within a few days. You can use the “Where’s My Refund?” tool to check the status of your refund, as well as the estimated date of arrival.
Refund Sent
The “Refund Sent” status means that the IRS has sent your refund to the bank or other financial institution that you specified on your tax return. At this point, you should expect to receive your refund within a few days. You can use the “Where’s My Refund?” tool to check the status of your refund, as well as the estimated date of arrival.
What if the Status of Your Tax Return is Delayed?
If the status of your tax return is delayed, it is likely due to an error or additional information required by the IRS. The best way to resolve any delays is to contact the IRS directly. You can do this by calling their toll-free number or visiting their website. They will be able to provide you with more information about the status of your tax return and what steps you need to take to resolve the issue.
Conclusion
Checking the status of your tax return is a simple process. All you need to do is use the “Where’s My Refund?” tool to check the status of your refund. The tool will provide you with information about the status of your return, as well as an estimated date of arrival for your refund. If you encounter any delays, you can contact the IRS directly for more information.
