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Your Tax Return - How the Tax Return Process Works

 

So its nearing April 15th. That dreadful of all days. The Tax Deadline. You know you have got a ton in your mind. This is the last thing you want. Well, you're a courageous soul You might have accomplished this in the past. Many times up to now actually.

 

 

So, with a mighty decision, 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 aren't afraid of paper, not a bit. You run off to the submit office and get all the latest forms and worksheets and sit down at your desk.

 

 

So painted beneath in words is a hypothetical situation of what would transpire as you head down the glorious path of getting ready your Tax Return.

 

 

Scenario 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 form you know - however you probably did'nt, so you had to make 2 journeys to get all the kinds you need.

 

Next... It's a must to undergo the meticulous process of having to fill one box at a time, make certain your entries are okay, make positive you not less than copied down everything from your W2 into your . Because every calculation is connected to the next, each box ties to the next. At the end of this painstaking process you arrive on the ultimate number - your refund or the tax you owe.

 

Next step - Find the proper address to mail to. Do you know the place to mail your tax return. Well its there, its probably in the instructions to the form. Once more scan each word till 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 fifteenth and make positive you catch the final snail mail train. Because if it leaves, you might be in trouble.. BIG hassle!

 

Well you made it. You rub your hands with pleasure 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 finally get you that coveted refund check!

 

Assuming no postal delays - your tax return will get to the IRS in about 2 enterprise 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.

 

Subsequent, It gets picked up to be scanned using sophisticated machines called optical scanners which converts your handwritten tax return right into a readable laptop file.

 

Hiccup 1: For those who hand crammed 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 another queue to be manually processed by a human - lets give 4 to 5 days for this to happen.

 

Somebody 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 confirm the fundamental particulars - like did you put in a sound 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 along with thousands and 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 level on - the process should work like greased lightning.

 

Subsequent a series of laptop programs can be run on the database to validate the tax returns. It'll compare the data on your file in opposition to what your employers filed. So if you happen to incorrectly entered $15200 on your revenue however the employer despatched 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. The most sensible minds within the IRS ought to be designing these pc programs to find out which tax return needs to be pulled up for auditing. Perhaps the holy grail of IRS secrets and techniques !

 

In case you pass step 9, and you've got a refund, you'll be routed to a program that prints your refund check - give one other 1-2 days for this process to complete.

 

In the event you elected direct deposit, a pay request will be sent to deposit the money into your bank account (1 day)

 

Should 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 through snail mail, the identical way you mailed out your tax return.

 

 

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