How long to recieve this year's Federal Income Tax Refund?
If you're lucky enough to get a refund, the time require probably depends on what method you're receiving the refund, by check or by electronic deposit.... so how long did it take and which way did you get it? ...and I suppose when and how (paper or efile) did you file? I guess this applies to our US members only, huh?  |
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| Our accountant e-filed our return on March 25, it was accepted on March 26, and we had our direct deposited refund by March 31. We weren't expecting it before April 3 (per accountant), so this was an added bonus!:lol:
He also e-filed our state return at the same time and we still haven't received that refund.  But in another twist of fate, we received our local refund (regular check) last week, just 2 weeks after we paper filed it. Last year it took the locals 5 weeks to get us the refund. 
Government - go figure! |
| E Filing is fastest, usually a few days at the most. Second best is Snail Mail with Direct Deposit which usually takes about 2 to 3 weeks and last and indeed least is Snail Mail with a check being sent which could take an easy 2 months plus. Of course you can probably just let the country keep it all, the Treasury Dept. needs a few extra scheckles. |
| LOL. What's a refund? |
ButtersStotch wrote: LOL. What's a refund?
LOL......and I have no clue yet, we filed an extension.....  |
| If filing electronically, it is supposed to be 8 days for direct deposit and 23 days to cut a check. Having just finished mine, I took careful note of that info!! |
| I filed mine on a Wednesday evening about 3 weeks ago, and had my state refund (a whopping $6) in my account on Friday morning, and my federal refund on Monday morning.
I was impressed. |
| Refund???? Why would I let the government have my money all year without paying me interest. |
Sheeps over Aces wrote: Refund???? Why would I let the government have my money all year without paying me interest.
I consider it a convenience fee for not having to come up with the $$ to pay on 4/15. Of course, my refunds have never been more than $500, so it's not like I'm losing out on a lot of interest anyhow. |
Sheeps over Aces wrote: Refund???? Why would I let the government have my money all year without paying me interest.
That's the whole reason we owe. We changed our filing status on purpose since, due to a mistake on the part of IRS, they've been absorbing all of our refunds for the past 2 years (that's a story in itself that I won't get into). We figured that we may as well keep our money during the year and just pay them the difference later since they'd take anything we'd get back.  |
ButtersStotch wrote: LOL. What's a refund?
We owe the state....wait for it a whopping $4.00 Federal is a whole different story...$$$$$$$$ |
| We get over 500 from state. but owe fed 94.00
we filed yesterday. should have done state early toay to pay feds.  |
| We don't pay state income tax (we aren't crooks, there isn't a state income tax here) - they offset that by jacking up other taxes.
We get a very small Federal refund in February. |
| I think it took about 3 weeks for our federal refund to show up. I do mail in. It came 2 days before I was ready to write the check for what I owed to the state! |
Well I guess I should enjoy the refund while we can. We're very much looking forward to our $8,500+ ......woohoo!! We've been dying to get that sprinkler system and add an island in the kitchen!! 
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| I just efiled last night............ Accountant, file thyself! |
Paper filed, 4 weeks return.......such as it was 
We are getting back $1.79 from state......as yes we filed for it Check came in 3 weeks. |
Sheeps over Aces wrote: Refund???? Why would I let the government have my money all year without paying me interest.
We got hit BIG time a few years back because Dale is a salesman and as such, his income fluctuates. The first good year he had, we owed because his employer didn't take enough taxes out with the commission checks. So we had to start paying estimated quarterly taxes on TOP of what his employer took out weekly just to stay on top of what we would owe. But now that sales have slowed down, what we had to pay last year in estimated quarterly payments exceeded what we owed. Just can't win . . . |
| You can thank an early version of "paygo" for the frustration of estimated taxes enforcement.
I'm pretty sure in the Reagan years someone wanted to spend money on something, and you had to find revenue to offset the spending. One of the offsets that was found was to require people to be within 10% of their final taxes owed or have paid 100% of last year's taxes, and some other arcane rules about making the payments evenly spaced throughout the year or be penalized with a fine. So while I used to get it pretty close, now in this day and age of short interest rates I make sure that I get at least a small refund. |
Ron wrote: You can thank an early version of "paygo" for the frustration of estimated taxes enforcement.
I'm pretty sure in the Reagan years someone wanted to spend money on something, and you had to find revenue to offset the spending. One of the offsets that was found was to require people to be within 10% of their final taxes owed or have paid 100% of last year's taxes, and some other arcane rules about making the payments evenly spaced throughout the year or be penalized with a fine. So while I used to get it pretty close, now in this day and age of short interest rates I make sure that I get at least a small refund. Yep, that's exactly what happened to us. Once we got hit, from that point on we had to pay in at least what we owed the prior year or face a penalty, which is why we had to start doing estimated quarterlies. Believe me, I would have MUCH preferred just putting the extra tax owed in a savings account so we could collect the interest for ourselves and then pay the extra tax at the end of the year, but it wasn't an available option. Like I said - government! |
| Just an aside: I filed both Federal and State on the night of the 14th. I received my State (Massachusetts) refund today they 18th (which means they had to issue the refund on the 17th).
Amazing. |
| Aside #2: Received my Federal tax refund today, April 24th.
10 days. Not bad! |
| Ditto! |
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