What should I do with my refund?

[d-fly]

Your credit card's interest rate is probably much higher than the interest rate you might pay for a home loan or an auto loan.  Sink your money into paying off the principal on your credit card balance.

[TKLUTTZ57]

All I have to say is they took 225 out of my refund and did nothing. I did all the leg work. They were not supposed  to take it. I want my money back. They are scammers and I'll never use them  again..Take my advise do not use turbo tax. I'll continue  spreading  the  word  till I get my 245 back. Tina Kluttz. 

[TKLUTTZ57]

They are scammers. They steal from you .Tkluttz57 

[seemoss2000]

TAX FILE FOR  2019

[Edward M McDowell]

Acorn is a great idea for my return right or what ever 

[Nmar73]

 I am still waiting for my Refund do u now how long it will be  ????

[DoninGA]

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@Nmar73 wrote:

 I am still waiting for my Refund do u now how long it will be  ????

---

Did you e-file your tax return and was it accepted?
Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.

You complete your tax return by finishing all 3 Steps in the File section. In Step 3, to e-file your tax return, you must click on the large Orange button labeled "Transmit my returns now".

After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.

Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.  Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.

To check the status of an e-filed return, open up your desktop product or log into your TurboTax Online Account. You can find your status within the TurboTax product.
If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds
If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/questions/1899433-how-do-i-track-my-state-refund

After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.
See this IRS website for federal tax refund FAQ's - https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions
If over 21 days since being Accepted by the IRS and the tax refund is still Processing you can call the IRS and speak with an IRS agent concerning your tax refund.
Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday
When calling the IRS do NOT choose the first option re: "Refund", or it will send you to an automated phone line.
So after first choosing your language, then do NOT choose Option 1 (refund info). Choose option 2 for "personal income tax" instead.
Then press 1 for "form, tax history, or payment".
Then press 3 "for all other questions."
Then press 2 "for all other questions."
- When it asks you to enter your SSN or EIN to access your account information, don't enter anything.
- After it asks twice, you will get another menu.

Press 2 for personal or individual tax questions.
Then press 4 for all other inquiries
It should then transfer you to an agent.

[vasquezcjuan]

With your tax return, if you have a car, pay the insurance for the entire year. You’ll get more money on your paycheck at the end of the month for 12 months without paying a car insurance bill. 

Im a good driver so my car insurance is $100/mo, well below national averages, and I’m on step one. So that extra $100 a month can come in handy through the year.

Also, if you have a car payment, you can apply that $100 you’re now saving a month and apply it to the principle, ultimately paying your car off sooner, by a year or 2 ..

[ma2]

First of all, pay off those cards.  While you are eating a fancy dinner as was suggested, Your credit card interest is going "cha-ging" and increasing your debt.  Pay off the highest interest card first.  Pay minimum plus $50. on each of the others.  When you are debt free use your cards as if you were paying cash.  For instance, I buy my groceries with my credit card because I get a 3 to 5% credit on my card.  And I pay my card in full each month a week before the due date.  I know I can pay it because I am frugal with my grocery list, no large steaks, lots of chicken.  I have done this and you can too.  Don't cut up or close those credit cards.  When you get them paid off, your credit score will soar.  Be sure to use them for small amounts you know you can pay.  

[Webster34]

I am gunna save it and get my first place wit it

[Jezzika76]

Best advice I can give you is to take at least HALF of your refund every year and put it into SOMETHING (that grows!) for your future! Some ideas would be a Retirement Account, CD's or Investments. I am soon to be 45 years old and kicking myself for not saving or investing earlier in life. I still have 20+ years until I'm able to retire but I have a lot of catching up to do if I want to be able to live comfortably in my final years. I am positive when I was in my 20's this was mentioned to me as well... I wish somebody would have stressed to me the harsh reality of choosing to wait so long. Save early and save often.... the future You will appreciate it! 😉

[Emumby]

I’d send it straight to Fidelity or whatever your investment company is. But about the car. I haven’t had a car payment since I was 19. I got my car at 18 new so I could get a loan. Not an expensive car. Paid more to get it paid off. But also started with an index fund $25 per month. Once I got rid of the note I upped the index fund account by the amount of my car payment and have bought a relatively newer used car since. I have lowered the amount saved for my new car by a lot by paying cash for a newish used cars.  Good luck. 

[Ammyof5]

What if I am much older than 50 years old?

[Ammyof5]

All great advice but what if I am well over 50years old?