| It's that time of year again. Your personal income | | | | deductions and credits available this year due to the |
| taxes are coming due and the date will be here | | | | Economic Stimulus Plan which may make you more |
| quicker than you think. Now is the time to prepare your | | | | likely to get an IRS refund; sites like this will help you |
| documents, file your taxes and get your IRS refund. | | | | get the maximum number allowable. |
| How much will you get back and how long it will take | | | | When Will I Get My IRS Refund? |
| to get it? | | | | When you'll receive your IRS refund will depend on |
| How Can I Estimate My IRS Refund? | | | | when and how you file your taxes. The IRS won't |
| If you want to know how much of an IRS refund you | | | | guarantee the date of any refund. But, they do have a |
| may get, start by collecting the information you'll need | | | | general cycle. For most returns, if it is filed between |
| to get an estimate. There are a number of estimate | | | | Friday and the next Thursday, an electronic direct |
| sites out there (just do a search for "Tax Estimator"), | | | | deposit will be sent on the Friday of the next week. |
| but to use any of them you'll need the following | | | | For example, if you file your taxes between Friday, |
| information handy:o Number of exemptions you'll be | | | | Jan. 15 and Thursday, Jan. 21 the direct deposit will be |
| claimingo Amount of your income from all sourceso | | | | sent on Friday, Jan. 29. If you have opted to have a |
| Information on any deductions, payments and credits | | | | paper check mailed, however, the check won't be |
| The amount of an IRS refund you will receive will | | | | processed and mailed until a week later. In our |
| depend on the number of exemptions you claimed on | | | | example, that date would be Friday, Feb. 5. So, the |
| your Form W-4 with your employer. The fewer | | | | quickest way to receive your refund is to opt for |
| exemptions you claimed, the more taxes that were | | | | direct deposit when you file. |
| taken out of your check. If this resulted in an | | | | The IRS also has a way to look up the status of your |
| overpayment of taxes you will receive an IRS refund. | | | | refund. By going to the IRS website and clicking on the |
| However, if you claimed more exemptions than you | | | | "Where's My Refund?" link, you can enter some |
| take on your return you may have underpaid and | | | | personal information that allows the IRS to find the |
| would owe taxes to the IRS. And, if you are | | | | status of your refund. You can generally get this |
| self-employed and didn't make any estimated tax | | | | information 72 hours after the IRS acknowledges |
| payments you may also owe taxes plus penalties. | | | | receipt of your e-filed return, or three to four weeks |
| How do I File for My IRS Refund? | | | | after mailing a paper return. |
| To file your income taxes most people will need to fill | | | | You'll need to provide the following information from |
| out some version of IRS Form 1040. Depending on | | | | your tax return:o Your Social Security Number (or |
| your circumstances there may be many additional | | | | Individual Taxpayer Identification Number)o Your Filing |
| forms to file to claim deductions or account for income. | | | | Statuso The exact whole dollar amount of your refund |
| The easiest way to ensure you are filling out all the | | | | One of the biggest reasons for delayed IRS refunds is |
| forms you need and claiming all the deductions you | | | | putting an incorrect address on your return, if |
| can is to use an online tax preparation site, like The site | | | | requesting a paper check, or entering incorrect routing |
| will ask you pertinent questions about your income, | | | | or account information, if you are requesting direct |
| expenses and deductions and automatically fill in the | | | | deposit. Be sure to double-check this information |
| correct forms for you. It will also allow you file | | | | before filing for your IRS refund and, if you move after |
| electronically, which allows you to receive your IRS | | | | filing your return, be sure to update your address with |
| refund more quickly. There are also several new | | | | the IRS. |