Who is getting tax refunds

Yet, many still paid tax on this, and they're now due a refund. Those who are eligible for a tax refund this November should receive a letter from the IRS within 30 days of the adjustment being made.

These letters will explain exactly what kind of tax correction has been applied and how much they should receive. Some will receive straight cash refunds, while those who already owe money to the IRS will have those debts cut. More than million dollars has been sent out to those , unemployment claimants who overpaid in their tax return. First, we "stamp" the return with an electronic postmark, and then we send it to the government.

Then we both wait 24 to 48 hours for the IRS to accept your return. What are they doing? They are checking your personal information to make sure it matches their records.

If everything looks good, the IRS accepts your return. Other tools and refund delays You can also use the TurboTax Where's My Refund tracking guide that will show you how to check the status of your tax refund and common reasons for delays.

These articles explain in more detail what may cause a delay: Where's My Refund? All you need to know is yourself Just answer simple questions about your life, and TurboTax Free Edition will take care of the rest. Looking for more information? Get more with these free tax calculators and money-finding tools.

Stimulus Check Calculator See if you qualify for a third stimulus check and how much you can expect Get started. Tax Bracket Calculator Easily calculate your tax rate to make smart financial decisions Get started.

Self-Employed Expense Estimator Estimate your self-employment tax and eliminate any surprises Get started. Documents Checklist Know what tax documents you'll need upfront Get started. Privacy Settings. And it will help you to calculate how many taxes you owe, schedule tax payments, and request a refund when you have overpaid.

Once the government gets your tax return and processes your information, it officially approves you for a refund before sending off your money. Tax refund processing varies depending on the way that you file your taxes.

Refunds for tax returns filed electronically are generally sent out less than 21 days after the IRS receives your information, though they can take up to 12 weeks to show up. Refunds for tax returns filed on paper often arrive between six and eight weeks. Delays can happen as a result of mistakes, budget cuts and overwhelmed tax preparers. In some cases, you might be tempted to take out a refund anticipation loan. But as a consequence, you may have to pay a hefty fee and interest.

You can request that the government send you a paper check in the mail. Or you can decide to go for a direct deposit tax refund and have your money put into three different places, including a savings and a retirement account. Ready to get in on the investing game? Whatever you decide to do with it, you have three years to claim your refund from the initial filing deadline. Sometimes, the IRS makes a mistake and sends you more money than you were meant to have.

Anyone who owes child support or has overdue student loan bills may have some of their refund taken and applied to those debts.