Although the Internal Revenue Service (IRS) in the United States had a deadline of months to file taxes, many left it for the last moment. This does not mean any problem, as long as everything has been presented without errors. However, you will most likely have to wait weeks to receive the tax refund.
From the moment taxes are filed, it is common to wonder about the term of the refund. However, it is necessary to take into account that several factors influence the return. Therefore, you should be patient and wait for your turn to come. Today at The Look we will tell you a little more about tax refunds.
Plans for receiving returns: What you need to know if you declared on the last day
Currently, the IRS has specific deadlines for processing and making tax refunds. However, for those who waited until the last day, the return will take a little longer to arrive. That's because returns tend to be processed on a first-come, first-served basis, so you'll have millions ahead of you.
Similarly, a reasonable deadline is established for the delivery of the refund. That is, you will not have to wait months for it. This usually takes about 21 days for direct deposits. Instead, those who receive restitution through the mail have to wait about 6 to 12 weeks.
However, it should also be noted that there are variables that can interfere with the delivery of the tax refund. For example, the method of presentation and how the taxes were carried out. In addition, it must be considered that there may be errors in the declaration that are identified during the review of the declaration.
For these reasons, we recommend using IRS-validated tax software or consulting with a professional. In this way, you can reduce the possibility of making slips in the declaration. Do not hesitate to contact the Internal Revenue Service directly to clarify any concerns you have.
Last day to declare taxes: Considerations to take into account
If you were unable to file your taxes on the last stipulated day, you still have an opportunity to do so. To do this, you need to request an extension that allows you additional time. With the extension, you can have a period of 6 months to file your taxes. However, this only applies to the presentation.
Therefore, it is necessary that you pay the taxes on the original due date. Otherwise, the IRS will penalize you with additional penalties and interest that will accumulate as time goes by. Enlist the help of a professional in the area to resolve this issue as much as possible, before the situation gets worse.
On the other hand, in case you have managed to file your taxes on the last day, then you will only have to wait for the refund. To do this, you can use the IRS virtual tool called "Where's My Refund?" In this way, you can have updated information on the status of your restitution.
If you want to make use of this online resource, you will only have to enter your Social Security number, marital status, and the amount of the reimbursement. In case the application has problems, we recommend calling the IRS at 1-800-829-1040.