Rapid Tax Refund - File Online Income Tax and Get Rapid Tax Refund.

So, you were pleasantly surprised to learn that you are getting a refund on your taxes. Congratulations! The question for most taxpayers expecting a return is, "Where is my refund?"

Check Your Refund Status Online
The easiest way to check and get rapid tax refund is to ask the IRS through IRS.gov. On the home page of the site, you will see a "Where's My Refund?" link. Using the service is fairly easy. You will need a copy of your tax return to provide the necessary information to get the status of your refund. Specifically, you need to provide your social security number, your Free Tax Filing status and the exact amount of your refund. The reason the IRS requires all of this information is purely for security purposes, to wit, the agency wants to make sure it is giving access only to the taxpayer. Again, all of this information should be on your return. If it is not, something is very wrong!

Once you submit the required information, the IRS will provide online results typically showing :-

1. That the return was received and is in processing
2. The expected mailing date or direct deposit date of your refund OR
3. Whether your refund could not be issued because of a delivery problem.

In some cases, the results may alert you to the fact that the IRS is reviewing your Tax Return because of errors or questionable entries. In such a case, it is highly advised that you review your return with a qualified tax professional and make absolutely sure that the return will stand up to scrutiny.

How Long Do You Have To Wait Before Checking?
If you filed your tax return electronically, you should be able to access the status of your refund within 48 to 72 hours. Since the return is coming into the database electronically, it should be assimilated into the system fairly quickly. If you do not file your return electronically, you are going to have to wait three weeks or more before the status of your return can be checked. As you can imagine, the IRS is receiving an enormous amount of paper tax returns and it takes time to organize and enter the returns into the system.

How Long Should It Take To Receive Your Tax Refund?
If you are expecting a Rapid Tax Refund, the time to issue the refund will depend upon how you filed your return. If you filed a paper return via regular mail, you refund should be issued in six to eight weeks from the date it was received by the IRS. Alternatively, if you filed your return electronically, you should expect to receive your refund in three to four weeks. If you elected to have your refund directly deposited in your banking account, you should take one week off of the above estimates.

Labels: Check Tax Refund Status

Filing your Online Tax Return is complicated enough already. Make it as easy as possible by using the right IRS income tax form. Here's how to choose which tax return form is easiest for you:

IRS Income Tax Form 1040EZ
# Taxable income below $50,000
# Single or Married Filing Jointly
# Under age 65
# No dependents
# Interest income of $1,500 or less

IRS Income Tax Form 1040A
# Taxable income below $50,000
# Capital gain distributions, but no other capital gains or losses
# Only tax credits for child tax, education, earned income, child and dependent care expenses, adoption and retirement savings contributions
# Only deductions for IRA contributions, student loan interest, educator expenses or higher education tuition and fees
No itemized deductions

IRS Income Tax Form 1040
# Taxable income of $50,000 or more
# Itemized deductions
# Self-employment income
# Income from sale of property
# The IRS will send you the income tax return form they believe is right for you, based on which tax form you used last year.

If your situation has changed (for instance, if you filed form 1040EZ last year but you've purchased a house and can now itemize deductions), be sure to choose the correct income tax form so you pay as little tax as possible and avoid a possible audit.

Labels: Pay accurate taxes and Get Rapid Refunds