We get it - that tax refund is your money! You need it, want it, and deserve it! The IRS has "borrowed" your money for long enough. But where is it, and how do you track it?
Let’s start by breaking down the filing and refund process, in the simplest way possible.
That’s it! Those are the essential steps to receiving your refund as quickly as possible. Still, there may be some bumps or snags to cause delays along the way. Below are some common FAQs to help ease your mind and move things along more rapidly.
What if 21 days have passed and I don’t have my refund?
This could be as simple as a delay from the IRS backlog.
But there could be a variety of other reasons why it’s taking a longer amount of time. It’s usually something simple that maybe was forgotten, such as an offset or a missing income item. Track your progress and watch for a “love letter” from the IRS.
Or, it might mean you won the “random audit” lottery. Yes, it’s a thing! The IRS could have randomly selected your return for a closer look. In this case, you will receive a letter in the mail (yes, the regular paper mail) letting you know the details and the next steps.
It’s frustrating, but don’t let it scare you. Most often, they simply want verification of an entry on your return. If you’ve kept your documents and receipts, this should be a fairly painless process of providing exactly what they need, and then waiting a bit longer.
How do I fix a Rejected return?
This is usually pretty simple. You log in to your TurboTax account, go to your return and select Fix it now or Revisit the section that applies to the reject code. You can go here to see some common reject codes and learn how to fix them step-by-step.
How do I track the progress?
This is the fun part! You can check the status directly through TurboTax. Once it’s been Accepted, you can also watch the progress right on the IRS or state taxing authority’s website.
They said they sent my refund last week but I don’t have it?
Oh no! Let’s hope the bank info is correct or you didn't move...it's happened before. To head that off, don’t change your bank accounts until after your tax returns are processed and you receive your refund. If you moved (and are expecting a paper check) or need help due to incorrect bank information, you should contact the IRS directly.
PRO TIP: Create an online account with the IRS. You can then access tax records, make payments, and do all sorts of fun tax-related things!
Here’s an important thing to know - once your return has been Accepted for processing by the IRS and/or state taxing authority, they are in control of what happens next. Keep an eye on your status and take action - so you can get your money as quickly as possible!