Your Tax Return – How the Tax Return Process Works

So its nearing April 15th. That dreadful of all days. The Tax Deadline. You know you have got a ton on your mind. This is the last thing you want. Well, you’re a brave soul You’ve carried out this in the past. Many times prior to now actually.

So, with a mighty decision, you decide to get started in your Tax Return this very weekend. You pack your spouse off to a picnic and roll up your sleeves and get ready. You aren’t afraid of paper, not a bit. You run off to the put up office and get all the latest kinds and worksheets and sit down at your desk.

So painted below in words is a hypothetical state of affairs of what would transpire as you head down the wonderful path of making ready your Tax Return.

Scenario 1 : HAND-FILLED, SELF-FILED TAX RETURN

You go to the submit office and pick up the paper booklet with the tax form. Now in case you are smart you’d have gotten each tax type you know – however you probably did’nt, so that you had to make 2 journeys to get all the forms you need.

Next… You have to go through the meticulous process of getting to fill one box at a time, make certain your entries are okay, make sure you at the least copied down everything from your W2 into your . Because each calculation is connected to the following, every box ties to the next. At the finish of this painstaking process you arrive at the closing number – your refund or the tax you owe.

Subsequent step – Discover the correct address to mail to. Do you know the place to mail your tax return. Well its there, its probably in the directions to the form. Once more scan every word till you get the address. Oh Well Eureka!! You just discovered it.. congratulations. Now put that in an envelope.

Walk to the put up-office make it before midnight on April fifteenth and make sure you catch the final snail mail train. Because if it leaves, you’re in trouble.. BIG hassle!

Well you made it. You rub your hands with joy and pat yourself on the back. Your Tax RETURN IS FINALLY DONE !! Well you just hit the starter to the engine. You just set in motion for the following series of events that can finally get you that coveted refund check!

Assuming no postal delays – your tax return will get to the IRS in about 2 business days.

Next your little piece of work, your tax return, will enter a queue until its routed to the correct department. lets give his a day for making this arduous journey.

Next, It gets picked up to be scanned utilizing sophisticated machines called optical scanners which converts your handwritten tax return into a readable pc file.

Hiccup 1: If you hand filled your return with pen and paper, if the scanner can’t recognize your handwriting – then the scanning process will reject – after which it would get put into another queue to be manually processed by a human – lets give four to five days for this to happen.

Somebody will truly read your tax return and then type the contents manually right into a computer. At this level your tax return is now a what’s called a raw data file.

Now the raw data file will get run via an editing program which will verify the basic particulars – like did you set in a legitimate SSN, did you punch in too many zeros in your income eg. you wrote $50000 instead of $5000 in a box on the form.

If everything is okay, Your return which is now computer file will then get put right into a database alongside with hundreds of thousands of different tax payers. Your tax return will be part of hundreds of others who e-filed their tax return at this point.

From this point on – the process ought to work like greased lightning.

Subsequent a series of laptop programs might be run on the database to validate the tax returns. It would compare the data on your file against what your employers filed. So if you happen to incorrectly entered $15200 on your income however the employer despatched in $20,000 the process will pull out your tax return for ‘particular’ processing.

Additionally your tax return gets pulled up in a random audit checks. Essentially the most brilliant minds in the IRS should be designing these laptop programs to find out which tax return needs to be pulled up for auditing. Perhaps the holy grail of IRS secrets !

In case you pass step 9, and you have a refund, you will be routed to a program that prints your refund check – give another 1-2 days for this process to complete.

When you elected direct deposit, a pay request can be despatched to deposit the cash into your bank account (1 day)

Should you did not elect direct deposit, your refund check will go for printing (1 day). Then your refund will go to the mailing department to be despatched to you (1-2days). After about (2-3 days) of spending time within the USPS, the check ought to get to you – again through snail mail, the same way you mailed out your tax return.

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