Numerous problems can arise to throw off a predicted refund schedule, including errors on your return or issues in getting it processed. State Tax Refund: Finally, it's essential not to rely on your refund coming at any particular time.
Hi, Fool! The Internal Revenue Service, which has been beset by fraudsters, has been requiring victims and suspected victims of tax-related identity theft to take extra steps before filing returns. Stock Advisor Flagship service. The other situation in which a refund is likely is if you have tax benefits that aren't related to your job.
If you get a letter asking you to verify your identity, visit the right website: Stock Market News. Again, electronically filed returns tend to be more accurate and process more easily than paper returns, but even with e-filing, there's no guarantee that your refund will be in your account on any particular day. Premium Services. Scam artists are also calling people to say they have your tax return and just need to verify a few details — such as your Social Security or bank account number — to process your refund, the IRS said.
How to Invest. Tens of millions of Americans have to file federal tax returns, and many of them expect to get refunds from the IRS.
For instance, some states have their own versions of federal tax breaks like the earned income credit, child and dependent care credit, or educational credits. Track Your Performance. However, there are some general rules that you can count on wherever you live. The fraudulent email message has an IRS logo and reads: When the identity-theft victims file their real tax returns, they discover a refund has already been issued, causing headaches that take many months to resolve.
Dan Caplinger has been a contract writer for the Motley Fool since 2006.
See you at the top! View all Motley Fool Services. Below, we'll look at some of the most populous states to give you a sense of how long it typically takes to get a refund there. Dan Caplinger. Let's conquer your financial goals together... As a result, it almost always makes sense to use e-filing whenever it's available. State tax refunds can add to your total haul at tax time, but the rules governing when you'll actually receive those state tax refunds can vary greatly from state to state.