So its nearing April 15th. That dreadful of all days. The Tax Deadline. You know you’ve got a ton in your mind. This is the last thing you want. Well, you are a courageous soul You’ve gotten executed this within the past. Many times in the past actually.
So, with a mighty resolution, you resolve to get started in your Tax Return this very weekend. You pack your partner 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 forms and worksheets and sit down at your desk.
So painted under in words is a hypothetical situation of what would transpire as you head down the fantastic 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 each tax type you know – but you did’nt, so you had to make 2 trips to get all of the kinds you need.
Next… You have to undergo the meticulous process of having to fill one box at a time, make sure your entries are okay, make certain you at least copied down everything from your W2 into your . Because every calculation is related to the next, each box ties to the next. On the finish of this painstaking process you arrive on the ultimate number – your refund or the tax you owe.
Next step – Find the right address to mail to. Do you know where to mail your tax return. Well its there, its probably within the instructions to the form. Again scan each word until you get the address. Oh Well Eureka!! You just found it.. congratulations. Now put that in an envelope.
Walk to the post-office make it before midnight on April 15th and make certain you catch the final snail mail train. Because if it leaves, you are in trouble.. BIG hassle!
Well you made it. You rub your palms with joy and pat your self 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 can 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 till 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 right into a readable laptop file.
Hiccup 1: If you hand stuffed your return with pen and paper, if the scanner can not acknowledge your handwriting – then the scanning process will reject – and then it would get put into one other queue to be manually processed by a human – lets give 4 to 5 days for this to happen.
Someone will really read your tax return after which 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 by an editing program which will verify the basic details – like did you place in a valid 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 computer file will then get put into a database along with hundreds of thousands of other tax payers. Your tax return will be a part of thousands of others who e-filed their tax return at this point.
From this point on – the process ought to work like greased lightning.
Next a series of laptop programs might be run on the database to validate the tax returns. It’s going to evaluate the data in your file towards what your employers filed. So if you incorrectly entered $15200 on your revenue but 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 must be designing these laptop programs to find out which tax return needs to be pulled up for auditing. Maybe the holy grail of IRS secrets and techniques !
In the event you pass step 9, and you have a refund, you can be routed to a program that prints your refund check – give another 1-2 days for this process to complete.
If you happen to elected direct deposit, a pay request will likely be despatched to deposit the money into your bank account (1 day)
If 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 sent to you (1-2days). After about (2-3 days) of spending time in the USPS, the check should get to you – again by way of snail mail, the same way you mailed out your tax return.
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