Where's My Refund?
/Whether you eagerly file your tax returns at the first opportunity or extend your returns every year, many people are left with the same question: where is my refund? The IRS operates on their own timeline, making it challenging to predict when you will receive your refund, which leads to mixed feelings among taxpayers.
For some, the stress of not knowing if they correctly filed their taxes is overwhelming, while others impatiently await their tax refund. In the last decade, e-filing, electronic signatures, and direct deposit refunds have become standard practices. Yet, despite these technological advances, filing your taxes can still seem a bit like a black box. Sometimes, you get your refund within a couple weeks, and, often, it can take months.
Recently, the IRS has embraced technology to help manage taxpayer expectations. If you visit www.irs.gov/wheres-my-refund, you can track the status of your federal tax return within 24 hours of e-filing (3-4 days if paper filed) by providing simple information from your return. The IRS has increased the use of letters and notices, which are also available online. Amended returns can be tracked online at www.irs.gov/filing/wheres-my-amended-return. Access to all this information is also available by logging into the IRS website using your IDme login. The IDme system is a government-wide login system that allows you to access various government websites, like the IRS and Social Security Administration, with one username and password.
Many state governments, including Indiana, have followed suit and provide status updates via their Department of Revenue: www.in.gov/dor/individual-income-taxes/check-the-status-of-your-refund/. By providing the basic details of your tax return or logging in via the INTME system, you can view the status of your Indiana tax return online. The Indiana Department of Revenue estimates that returns can be processed in as little as three weeks if e-filed (or 12 weeks if paper filed), so this system is helpful for keeping track of your return.
All things considered, we are lucky to live in a time when the IRS and many states have started to use technology for the benefit of taxpayers.
- Kyle McCune, CFP®, Worley Erhart-Graves Financial Advisors
