Hello, I'm Jill from Turbo Tax with some important information about federal tax refunds.
There is no doubt that many taxpayers file their returns
before the April deadline so they can0get their tax refunds quickly.
But remember, the IRS does need some time
to process your tax return before it can issue the refund
And depending on how you file your return and the method of payment you request,
the length of time between filing your return
and receiving your refund can vary.
The IRS makes tax refund payments in three ways and allows you to choose
the payment method on your tax return.
You can request your refund to be direct deposited
into a maximum of three checking or savings accounts
or have a paper check mailed to your home.
And although not as popular as the first two methods,
you can even purchase U.S. savings bonds
from the IRS with your tax refund.
In addition, TurboTax offers you the option of having your tax refund
deposited directly to a reloadable prepaid VISA card -
without using a bank account or waiting for a paper check.
You'll get your refund in as fast as 7 days when you e-file.
Tax refunds are processed by the IRS two times per week.
On the first day, the IRS only processes refunds
that it will make through direct deposit and on the second processing day,
the IRS mails all refund checks
to taxpayers who don't choose direct deposit.
But this doesn't mean your refund will be processed immediately
after filing your tax return. When you mail your tax return,
it takes approximately six weeks from the date the IRS receives it
to process your refund, regardless of whether you
choose direct deposit or a paper check.
And if you e-file your return,
the processing time is cut in half.
Approximately three weeks from the date the IRS confirms receipt of
your return you should see a deposit
in your account or receive a check in the mail.
If you want to monitor the status of your refund
so you know exactly when you'll receive it,
you can access the "Where's My Refund" tool
on the IRS website or call its Refund Hotline.
When you use TurboTax to file your tax return,
you can also check your e-file status on our website,
or use our mobile app to track your refund.
When using the IRS's online tool,
it isn't necessary to check back every day.
The IRS only updates your refund status information
once per week on Wednesdays.
If you e-file your tax return, wait at least 72 hours
from the date the IRS confirms receipt of your return
before checking your refund status, and at least three weeks
if you mail the return instead.
Remember, there's no faster way to get your refund For more information about this and other tax topics, visit TurboTax.com.
than e-file with direct deposit. And TurboTax makes it easy.
For more information about this and other tax topics, visit TurboTax.com.