IRS refunds are more common than you might think, and often a US citizen has no idea how they can track the status of their payment, especially if they are slightly older.
However, tracking where their refund payment is, and the status of the claim, can be easily done using an online tool provided by the United States government.
Named the ‘Where’s my Refund?’ tool, the IRS.gov website hosts the web application that allows taxpayers to check the status of their refund.
How do you use the tool?
It’s rather easy to get to grips with the application, once you’ve visited the aforementioned website, you can check your refund status 24 hours after a return is filed online.
If you want to do this on the move, there is also a handy IRS2GoApp on all popular app marketplaces including the Apple Store and Google Play store.
You have to then input some details of your return, which are provided when you file the claim, and the tool will automatically search its database and bring your claim to the fore.
How quickly can you receive a refund?
Filing returns online is far quicker than how tax related business was done in the past, and the results can now be considered virtually instantaneous.
The Where’s my Refund? Tool provides a personalized date after the return is processed and the refund is approved.
Whilst most tax refunds are issued within a 21-day period, some may take long if the return requires an additional manual review.
There are three instances when that may be the case:
1. The return may include errors or be incomplete
2. The return is under question with regards to identity theft or fraud
3. Many banks don’t process payments on weekends or public holidays