The Internal Revenue Service – IRS- began the new tax season last January 23, 2023. From that date onward, taxpayers who wanted to file were able to do so. If you are one of those who have already filed, you might be wondering when payments are due. Bear in mind that you are many people like you who are in the same boat.
According to a recent report from Credit Karma, there is about 30 percent of the population that needs their tax refund in order to make ends meet. The first thing you need to take into account is when you filed it. Secondly, if your tax refund is accurate and a simple one, there might not be delays. According to the IRS, you may receive your tax refund within 21 days if you filed it electronically.
What if you filed your IRS tax return by mail?
Just to check your filing status for a tax return by mail you will need up to four weeks. However, you may not receive your tax refund before six to eight weeks. Avoid delays if you really rely on that money. Ask for help if you do not know how to do it electronically. Besides, asking for a direct deposit may result in an even faster tax refund payment according to the IRS.
Moreover, if you opt for getting a check by mail, not only will it take longer but it may also get lost or stolen. Direct deposits are much faster and much more secure. According to IRS, you can find support from the Volunteer Income Tax Assistance and Tax Counseling for the Elderly for free. As long as you qualify for it, you can get that free assistance.
What if you are a disaster victim?
In the unfortunate event of being a victim due to the storm in Georgia, California, and Alabama, you may have a later filing deadline. It will not be on April 18, but rather until May 15. Not only will you be able to file various federal tax returns, and business tax returns but also make payments of the taxes you may owe.
IRS Acting Commissioner Dough O’Donnell said that before filing it is always advisable to prepare your tax return and take some important steps to make the process smoother. For instance, taxpayers should gather all tax records they may need, and file them accurately and electronically. not forgetting to ask for a direct deposit.