Are you expecting a refund this year? Great, did you get the maximum possible amount? If you hired a reputed CPA Lake Nona, FL to do your taxes, this will definitely be. People who await their refunds often have a lot of questions such as the status and the time by which they will get it. Over here, we are answering the most common of these. If you have any more concerns, ask your chosen CPA Lake Nona, FL, and they will guide you.
When will you get your tax refund?
The answer to this question mainly depends on the time at which you filed your tax return. If you did this sometime around February, you can expect a really quick refund. If you delayed or taxes and got done with them just before the deadline, the IRS will also delay your refund. Moreover, your return must have no errors of any sort. Should this be the case, your refund will be delayed.
The timing of your refund also depends on the method by which your CPA in Lake Nona, FL filed your taxes. If you do it on the paper based form, it takes around six weeks from the date on which the IRS receives your return. If you e-file you taxes, you should be able to get your refund within 21 days.
How will you know the status of your refund?
There are several ways through which you can check the status of your refund. The easiest way to do this is to use the online tool on IRS website. This is called ‘Where’s My Refund?’ and can be accessed right from the home page itself. You will have to enter your Social Security number, your filing status and the exact amount of the refund which you calculated on your tax return.
You can also check your refund status by contacting the IRS on their numbers, also given on their website. The same data will have to be provided, and the agent will give you the status of your refund.
What form will you get your refund amount in?
The IRS has a number of options for giving you the refund amount; you can choose any of these. They will deposit it in your back account or mail it to you by check. The IRS also allows you to deposit your refund in multiple back accounts. If you want, ask your CPA in Lake Nona, FL if you can also buy bonds from the refunds; your chosen amount must be a multiple of $50 and must not be greater than $5,000. The remaining amount is then deposited in your bank account.
What if the amount you get as refund is wrong?
If you get a refund of an amount that is larger than what you were expecting, you should not use it. When the IRS realizes their mistake, they will send you a notice and explain the difference. You will have to follow the instructions on this notice. For refunds that are a smaller amount, them and wait for another check from the IRS.
If you need more information about our Lake Nona, FL accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin number, incorporations, and non profit 501c3 tax exempt. (Freedomtax’s accounting and tax professionals are not CPA’s. CPA services provided by third party provider.)