When you get a job, your new employer will ask you to fill out an Employee’s Withholding Certificate (W-4) for tax purposes. Your answers on that form will determine how much money your new employer will withhold from your paycheck for tax purposes. Filling it out incorrectly could result in a big surprise at the end of the year when it’s time to file with the IRS.
Once you file your taxes, it can feel like forever before you receive your refund. The Internal Revenue Service (IRS) states processing refunds can take up to three weeks, but you can track your return’s movement through the system. All you have to do is visit the official IRS website, give them a bit of information, and the government will tell you the status of your refund.
By the middle of April each year, every taxpayer in the United States who earned over a certain threshold the previous year must file a tax return. Once received, the Internal Revenue Service (IRS) begins processing each return and issues a refund to those due to receive one. Processing times vary depending on several factors. For instance, during the 2020 tax cycle, shortages in staffing and changes in tax laws caused a backlog, resulting in longer wait times. Typically, the IRS aims to process and pay returns in 21 days or less from when they accept your return.
Save money at tax time with the homestead exemption.
Save money by filing for homestead exemption.