So its nearing April 15th. That dreadful of all days. The Tax Deadline. You know you could have a ton on your mind. This is the final thing you want. Well, you’re a brave soul You have got done this within the past. Many instances previously actually.
So, with a mighty resolution, you resolve 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 post office and get all the latest types 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 fantastic path of getting 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 are smart you would have gotten each tax kind you know – but you did’nt, so you had to make 2 journeys to get all the forms you need.
Next… You need to go through the meticulous process of getting to fill one box at a time, make certain your entries are okay, make certain you no less than copied down everything from your W2 into your . Because every calculation is connected to the next, each box ties to the next. On the end of this painstaking process you arrive on the last number – your refund or the tax you owe.
Subsequent step – Find the right address to mail to. Do you know where to mail your tax return. Well its there, its probably within the directions to the form. Again scan each word until 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 earlier than midnight on April fifteenth and make sure you catch the last snail mail train. Because if it leaves, you might be in trouble.. BIG hassle!
Well you made it. You rub your fingers 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 subsequent series of events that will finally 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 till its routed to the proper department. lets give his a day for making this arduous journey.
Subsequent, It gets picked up to be scanned utilizing sophisticated machines called optical scanners which converts your handwritten tax return into a readable laptop file.
Hiccup 1: Should you hand filled your return with pen and paper, if the scanner can not recognize your handwriting – then the scanning process will reject – after which it would get put into one other queue to be manually processed by a human – lets give four to five days for this to happen.
Someone will really read your tax return after which type the contents manually right into a computer. At this point your tax return is now a what is 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 put in a legitimate SSN, did you punch in too many zeros in your earnings eg. you wrote $50000 instead of $5000 in a box on the form.
If everything is okay, Your return which is now pc file will then get put into a database alongside with hundreds of thousands of different tax payers. Your tax return will be a 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.
Next a series of laptop programs will be run on the database to validate the tax returns. It’ll evaluate the data on your file towards what your employers filed. So in case you incorrectly entered $15200 in your revenue but the employer sent in $20,000 the process will pull out your tax return for ‘special’ processing.
Also your tax return gets pulled up in a random audit checks. Probably the most good minds in the IRS should be designing these pc programs to determine which tax return must be pulled up for auditing. Maybe the holy grail of IRS secrets !
If you happen to pass step 9, and you’ve got a refund, you’ll be routed to a program that prints your refund check – give another 1-2 days for this process to complete.
For those who elected direct deposit, a pay request will be sent to deposit the cash into your bank account (1 day)
In the event 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 sent to you (1-2days). After about (2-three days) of spending time within the USPS, the check should get to you – again via snail mail, the same way you mailed out your tax return.
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