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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 will have a ton on your mind. This is the last thing you want. Well, you are a brave soul You could have performed this in the past. Many occasions prior to now actually.

 

 

So, with a mighty decision, you decide to get started in 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 publish office and get all the latest types and worksheets and sit down at your desk.

 

 

So painted under in words is a hypothetical scenario of what would transpire as you head down the fantastic path of getting ready your Tax Return.

 

 

Scenario 1 : HAND-FILLED, SELF-FILED TAX RETURN

 

 

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

 

Next... You must go through the meticulous process of getting to fill one box at a time, make sure your entries are okay, make certain you not less than copied down everything out of your W2 into your . Because every calculation is related to the subsequent, every box ties to the next. At the end of this painstaking process you arrive at 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 discovered it.. congratulations. Now put that in an envelope.

 

Walk to the publish-office make it before midnight on April 15th and make sure you catch the final snail mail train. Because if it leaves, you're in trouble.. BIG trouble!

 

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 next series of occasions that can ultimately get you that coveted refund check!

 

Assuming no postal delays - your tax return will get to the IRS in about 2 enterprise 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 utilizing sophisticated machines called optical scanners which converts your handwritten tax return right into a readable pc file.

 

Hiccup 1: If you happen to hand filled your return with pen and paper, if the scanner can't 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 5 days for this to happen.

 

Somebody will really read your tax return and then type the contents manually right into a computer. At this point your tax return is now a what's called a raw data file.

 

Now the raw data file will get run by way of an editing program which will confirm the fundamental particulars - like did you place 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 alongside with millions of other tax payers. Your tax return will join 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 pc programs might be run on the database to validate the tax returns. It would evaluate the data on your file towards what your employers filed. So if you incorrectly entered $15200 in your revenue however the employer despatched 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 within the IRS must be designing these pc programs to find out which tax return must be pulled up for auditing. Maybe the holy grail of IRS secrets and techniques !

 

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

 

For those who elected direct deposit, a pay request might be sent to deposit the money into your bank account (1 day)

 

If you happen to 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 - once more via snail mail, the identical way you mailed out your tax return.

 

 

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