|

How to Track the Status of Your Tax Return

ByWallstreet Observer

Quick answer

  • The IRS offers an online tool, “Where’s My Refund?”, to check your federal tax return status.
  • You’ll need your Social Security number, filing status, and the exact refund amount.
  • Processing times can vary, especially during peak tax seasons.
  • If you filed an amended return, use the “Where’s My Amended Return?” tool.
  • Paper-filed returns take longer to process than e-filed returns.
  • Contact the IRS directly if the online tool doesn’t provide an update after a reasonable time.

What to check first (before you file or change withholding)

Before you even think about checking your tax return status, it’s crucial to ensure you’ve filed correctly and understand the basics of your tax situation. Making changes or inquiries without this foundation can lead to further delays or confusion.

Filing Status

Your filing status (Single, Married Filing Jointly, Married Filing Separately, Head of Household, or Qualifying Widow(er)) significantly impacts your tax liability and the forms you use. Ensure you’ve selected the correct one based on your personal circumstances. An incorrect filing status can lead to underpayment or overpayment of taxes, affecting your refund.

Income Sources

Gather all documentation for every income source you received during the tax year. This includes W-2s from employers, 1099 forms for freelance work or investments, and any other income statements. Failing to report all income is a common error that can delay processing or result in penalties.

Withholding or Estimated Payments

Review your W-4 (for employees) or your estimated tax payment records (for self-employed individuals or those with significant investment income). Adequate withholding or timely estimated payments ensure you don’t owe a large sum at tax time or overpay throughout the year. If you’re expecting a refund, it means you’ve overpaid through withholding or estimated payments.

Deductions and Credits

Understand the deductions and credits you are eligible for. These can significantly reduce your taxable income and the amount of tax you owe, directly impacting your refund amount. Ensure you have the necessary documentation to support any deductions or credits claimed.

Deadlines and Extensions (General)

Be aware of the general tax filing deadlines. While the typical deadline is April 15th, it can shift if it falls on a weekend or holiday. If you cannot file by the deadline, you can request an extension, but remember this is an extension to file, not an extension to pay.

Step-by-step (simple workflow)

Tracking your tax return status is a straightforward process, primarily managed through IRS online tools. Here’s a simple workflow to follow:

1. Gather Necessary Information:

  • What to do: Have your Social Security number, your exact Adjusted Gross Income (AGI) from your filed tax return, and your filing status ready.
  • What “good” looks like: You have all three pieces of information readily available and accurate.
  • Common mistake and how to avoid it: Not knowing your AGI from the return you just filed. Avoid this by writing down your AGI from your tax return copy or by saving your e-filed return confirmation.

2. Access the IRS “Where’s My Refund?” Tool:

  • What to do: Go to the official IRS website and navigate to the “Where’s My Refund?” tool.
  • What “good” looks like: You are on the legitimate IRS website, not a third-party site that might charge you.
  • Common mistake and how to avoid it: Using unofficial websites that mimic the IRS tool. Always ensure you are on IRS.gov.

3. Enter Your Information:

  • What to do: Input your Social Security number, filing status, and exact refund amount into the designated fields.
  • What “good” looks like: The system accepts your information without errors.
  • Common mistake and how to avoid it: Typos in your Social Security number, filing status, or refund amount. Double-check each entry carefully before submitting.

4. Check Your Refund Status:

  • What to do: The tool will display your refund status, typically in one of three stages: “Return Received,” “Approved,” or “Sent.”
  • What “good” looks like: You see a clear indication of where your return is in the processing pipeline.
  • Common mistake and how to avoid it: Expecting immediate updates. The system updates once a day, usually overnight. Be patient.

5. Review Processing Stages:

  • What to do: Understand what each stage means. “Return Received” means the IRS has your return. “Approved” means it’s being processed. “Sent” means your refund has been issued.
  • What “good” looks like: You understand the timeline and what to expect next.
  • Common mistake and how to avoid it: Misinterpreting the stages. For example, “Approved” does not mean your refund has been sent yet.

6. Note Estimated Delivery Dates:

  • What to do: If your return is approved, the tool will provide an estimated date for when your refund will be sent.
  • What “good” looks like: You have a clear expectation of when to receive your funds.
  • Common mistake and how to avoid it: Assuming the estimated date is guaranteed. External factors or additional review can cause delays.

7. Consider Paper-Filed Returns:

  • What to do: If you filed by mail, know that it will take significantly longer to process. The “Where’s My Refund?” tool typically won’t show updates for paper returns for at least 4 weeks after mailing.
  • What “good” looks like: You are aware of the extended processing time for paper filings.
  • Common mistake and how to avoid it: Checking the online tool too soon for a paper-filed return. Wait the full 4 weeks before expecting any status updates.

8. Check for Amended Returns Separately:

  • What to do: If you filed an amended tax return (Form 1040-X), use the separate “Where’s My Amended Return?” tool on IRS.gov.
  • What “good” looks like: You are using the correct tool for your specific situation.
  • Common mistake and how to avoid it: Using the original “Where’s My Refund?” tool for an amended return. This will not provide any information.

9. Contact the IRS If Necessary:

  • What to do: If the “Where’s My Refund?” tool hasn’t been updated in 21 days (for e-filed returns) or if you have specific concerns, you may need to contact the IRS directly.
  • What “good” looks like: You have exhausted online options and have a valid reason to call.
  • Common mistake and how to avoid it: Calling the IRS too early. Wait for the recommended timeframes to pass before initiating a phone call.

Common mistakes (and what happens if you ignore them)

| Mistake | What it causes

Similar Posts