So its nearing April 15th. That dreadful of all days. The Tax Deadline. You know you’ve got a ton on your mind. This is the last thing you want. Well, you are a brave soul You’ve gotten carried out this in the past. Many occasions in the past actually.
So, with a mighty resolution, you determine to get started on your Tax Return this very weekend. You pack your spouse 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 of the latest types and worksheets and sit down at your desk.
So painted below in words is a hypothetical scenario of what would transpire as you head down the glorious 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 if you are smart you’ll have gotten every tax form you know – however you probably did’nt, so you had to make 2 journeys to get all the types you need.
Next… It’s important to go through the meticulous process of getting to fill one box at a time, make certain your entries are okay, make certain you not less than copied down everything out of your W2 into your . Because every calculation is connected to the following, each box ties to the next. At the end of this painstaking process you arrive on the final number – your refund or the tax you owe.
Subsequent step – Find the fitting 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 before midnight on April fifteenth and make positive you catch the final snail mail train. Because if it leaves, you are in trouble.. BIG trouble!
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 next series of occasions that may ultimately 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.
Subsequent, It gets picked up to be scanned using sophisticated machines called optical scanners which converts your handwritten tax return right into a readable computer file.
Hiccup 1: Should you hand stuffed your return with pen and paper, if the scanner can not 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.
Someone will actually read your tax return after which type the contents manually right into a computer. At this level your tax return is now a what is called a raw data file.
Now the raw data file will get run by an editing program which will verify the essential details – like did you set 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 laptop file will then get put into a database alongside with thousands and thousands of other tax payers. Your tax return will be part of 1000’s of others who e-filed their tax return at this point.
From this point on – the process should work like greased lightning.
Next a series of pc programs will likely be run on the database to validate the tax returns. It can compare the data on your file against what your employers filed. So when you incorrectly entered $15200 on your income but the employer sent 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. The most sensible minds in the IRS must 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.
In the event you elected direct deposit, a pay request will probably be sent 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 ought to get to you – once more by way of snail mail, the same way you mailed out your tax return.
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