TAX REFUND EXPLOSION: MILLIONS RUSH TO FILE AS REFUNDS SOAR TO NEW HEIGHTS!
Hold onto your wallets, folks! The 2024 tax season is just hitting its stride, and already, millions of Americans are cashing in! Reports are pouring in that refund checks are not just bigger; they’re MASSIVE! The average refund? A jaw-dropping $2,065—that’s up nearly 19% from last year! By tax season’s end, we could be looking at refunds soaring to around $2,800!
THE REPORT: WHERE’S MY MONEY?
With inflation tightening its grip on wallets across the country, the looming question is louder than ever: “Where’s my refund?!” But fear not, because finding out has never been easier! Here are the THREE foolproof methods to track down your much-anticipated cash!
1. STALK YOUR REFUND ON THE IRS WEBSITE!
Once you’ve e-filed or mailed your return, your first stop should be the IRS website! Fire up that smartphone, tablet, or computer and check your refund status using the IRS’s refund-tracking tool!
Click the “Check Your Refund” button, and input your Social Security number, filing status, and the exact refund amount. If you did it right and waited at least 24 hours after e-filing, you’re just seconds away from seeing where your hard-earned money is.
The IRS’s “Where’s My Refund?” page gives you the juicy details, breaking it down like this:
- Return Received: They’ve got your return and are crunching the numbers!
- Refund Approved: Cha-ching! Your refund has been approved and will be sent by the date shown.
- Refund Sent: Get ready! Your cash is on its way via direct deposit or mail. But hold your horses—direct deposits can take up to five days to hit your account, and checks? Those can drag on for weeks!
If you filed a paper return, check back about four weeks after you sent it off for an update. E-filers? Your updates will come much quicker!
2. GET THE IRS2GO APP NOW!
Want to track your refund on the go? Download the IRS2Go app! Available on all platforms, this app is your ticket to refund tracking bliss. Just hit the refund tab, enter your details, hit submit, and BOOM—your refund status is right there!
Plus, if waiting is too much to bear, you can use the app for other tasks like paying off your tax bill or brushing up on tax tips!
3. CALL IN THE BIG GUNS: THE IRS!
Stuck in a refund rut? While it’s not recommended to call unless prompted, if you’re in a pinch, dial the IRS hotline at 800-829-1954 for an automated refund status.
Before you call, make sure to have:
- Your Social Security number
- Birth date
- Filing status
- Last year’s tax return
- Any IRS letters you’ve received
HOW LONG WILL YOUR REFUND TAKE?
Here’s the scoop: The sooner you file, the sooner that glorious $$ will hit your account! Most e-filers can expect their refund in 21 days or less, while paper filers might be left waiting for four weeks or more!
As of the end of January, the IRS was already neck-deep in tax returns, processing over 13 million with 3.2 million refunds already issued! But watch out—if you claimed the earned income tax credit or additional child tax credit, the wait may be a smidge longer. Refunds won’t start rolling out until after mid-February for those lucky claimants!
Mark your calendars, folks! Taxes are due April 15—get your filings in NOW to figure out if you’re pocketing cash or on the hook for what you owe!
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DON’T MISS OUT:
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photo credit: money.com
