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’ve a ton on your mind. This is the last thing you want. Well, you are a brave soul You have got performed this in the past. Many occasions prior to now actually.

So, with a mighty resolution, you determine to get started on your Tax Return this very weekend. You pack your partner off to a picnic and roll up your sleeves and get ready. You are not afraid of paper, not a bit. You run off to the post office and get all of the latest kinds and worksheets and sit down at your desk.

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

State of affairs 1 : HAND-FILLED, SELF-FILED TAX RETURN

You go to the post office and pick up the paper booklet with the tax form. Now if you’re smart you’ll have gotten every tax form you know – however you did’nt, so you had to make 2 trips to get all of the forms you need.

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

Subsequent step – Find the appropriate address to mail to. Do you know where to mail your tax return. Well its there, its probably within the directions to the form. Once more scan each word till you get the address. Oh Well Eureka!! You just found it.. congratulations. Now put that in an envelope.

Walk to the put up-office make it earlier than midnight on April 15th and make certain you catch the final snail mail train. Because if it leaves, you might be in trouble.. BIG bother!

Well you made it. You rub your palms 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 next series of events that may in the end get you that coveted refund check!

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

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

Subsequent, It gets picked as much as be scanned using sophisticated machines called optical scanners which converts your handwritten tax return into a readable pc file.

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

Someone will actually read your tax return after which type the contents manually right into a computer. At this point your tax return is now a what’s called a raw data file.

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

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

From this level on – the process should work like greased lightning.

Subsequent a series of pc programs will probably be run on the database to validate the tax returns. It can examine the data on your file towards what your employers filed. So if you incorrectly entered $15200 in your revenue however the employer sent in $20,000 the process will pull out your tax return for ‘special’ processing.

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

When you pass step 9, and you have a refund, you may be routed to a program that prints your refund check – give one other 1-2 days for this process to complete.

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

Should you didn’t 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 in the USPS, the check should get to you – again through snail mail, the identical way you mailed out your tax return.

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