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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 could have a ton on your mind. This is the final thing you want. Well, you are a courageous soul You will have done this in the past. Many occasions previously actually.

 

 

So, with a mighty resolution, you resolve 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 aren't afraid of paper, not a bit. You run off to the publish 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 fantastic path of making ready your Tax Return.

 

 

State of affairs 1 : HAND-FILLED, SELF-FILED TAX RETURN

 

 

You go to the submit office and pick up the paper booklet with the tax form. Now in case you are smart you would have gotten every tax kind you know - however you did'nt, so that you had to make 2 journeys to get all the kinds you need.

 

Next... You have to go through the meticulous process of having to fill one box at a time, make certain your entries are okay, make sure you at the very least copied down everything from your W2 into your . Because every calculation is related to the subsequent, each box ties to the next. On the finish of this painstaking process you arrive on the last number - your refund or the tax you owe.

 

Subsequent step - Discover the precise 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 every word until you get the address. Oh Well Eureka!! You just found it.. congratulations. Now put that in an envelope.

 

Walk to the put up-office make it earlier than midnight on April 15th and make sure you catch the final snail mail train. Because if it leaves, you are in trouble.. BIG trouble!

 

Well you made it. You rub your palms 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 next series of occasions that can finally 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 till its routed to the right department. lets give his a day for making this arduous journey.

 

Next, It gets picked as much as be scanned using sophisticated machines called optical scanners which converts your handwritten tax return right into a readable pc file.

 

Hiccup 1: In the event you hand crammed your return with pen and paper, if the scanner can not recognize your handwriting - then the scanning process will reject - after which it would get put into another queue to be manually processed by a human - lets give four to five days for this to happen.

 

Somebody 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 confirm the basic particulars - like did you put in a sound 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 alongside with hundreds of thousands of other tax payers. Your tax return will join 1000's of others who e-filed their tax return at this point.

 

From this point on - the process should work like greased lightning.

 

Subsequent a series of pc programs shall be run on the database to validate the tax returns. It's going to compare the data on your file towards what your employers filed. So if you happen to incorrectly entered $15200 in your income however the employer despatched in $20,000 the process will pull out your tax return for 'special' processing.

 

Additionally your tax return gets pulled up in a random audit checks. Probably 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 !

 

In case 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.

 

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 despatched to you (1-2days). After about (2-3 days) of spending time within the USPS, the check ought to get to you - again via snail mail, the identical way you mailed out your tax return.

 

 

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