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 will have performed this in the past. Many occasions in the past actually.
So, with a mighty decision, you decide 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 put up office and get all the latest types and worksheets and sit down at your desk.
So painted beneath in words is a hypothetical scenario of what would transpire as you head down the wonderful path of preparing your Tax Return.
Scenario 1 : HAND-FILLED, SELF-FILED TAX RETURN
You go to the put up office and pick up the paper booklet with the tax form. Now if you’re smart you’d have gotten every tax type you know – but you probably did’nt, so you had to make 2 journeys to get all the varieties you need.
Next… You have to undergo the meticulous process of getting to fill one box at a time, make certain your entries are okay, make sure you at least copied down everything from your W2 into your . Because every calculation is related to the subsequent, every box ties to the next. At the finish of this painstaking process you arrive at the last number – your refund or the tax you owe.
Next step – Find the best address to mail to. Do you know where to mail your tax return. Well its there, its probably in the directions 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 publish-office make it before midnight on April fifteenth and make positive 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 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 as much as be scanned utilizing sophisticated machines called optical scanners which converts your handwritten tax return into a readable computer file.
Hiccup 1: If you hand crammed your return with pen and paper, if the scanner cannot acknowledge 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 5 days for this to happen.
Somebody will truly read your tax return and then type the contents manually 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 details – 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 into a database along with hundreds of thousands of different tax payers. Your tax return will be part of 1000’s of others who e-filed their tax return at this point.
From this level on – the process ought to work like greased lightning.
Next a series of laptop programs will probably be run on the database to validate the tax returns. It’ll compare the data in your file in opposition to what your employers filed. So should you incorrectly entered $15200 in your income however the employer sent in $20,000 the process will pull out your tax return for ‘particular’ processing.
Also your tax return gets pulled up in a random audit checks. Essentially the most brilliant minds within the IRS must be designing these pc programs to determine which tax return needs to be pulled up for auditing. Maybe the holy grail of IRS secrets and techniques !
If you pass step 9, and you have a refund, you will be routed to a program that prints your refund check – give one other 1-2 days for this process to complete.
When you elected direct deposit, a pay request can 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 ought to get to you – again by way of snail mail, the same way you mailed out your tax return.
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