What to Expect for Personal Income Tax Refunds in 2013
The has IRS taken several steps to improve taxpayers’ ability to understand their refund status in 2013. Starting this year, taxpayers will get a personalized refund date when they use Where’s My Refund? tool on the IRS website. The Where’s My Refund tool will include a tracker that displays progress through 3 stages: (1) Return Received, (2) Refund Approved and (3) Refund Sent along with narrative that provides more detail such as the approved refund amount and the date the refund will be sent. Taxpayers will also be able to check on the status of their return sooner – within 24 hours after the IRS receives an e-filed return or 4 weeks after a paper return is mailed.
The Where’s My Refund tool will provide a refund date as soon as the IRS processes the tax return and approves the refund. This means taxpayers will not get an estimated refund date right away. Instead the Where’s My Refund tool will give each taxpayer personalized refund information based on the processing of his or her own tax return.
The IRS issued more than 9 out of 10 refunds to taxpayers in less than 21 days last year. The same results are expected in 2013.
If you have any questions regarding your refund after we have completed your return, please do not hesitate to contact your dedicated ShindelRock tax professional.