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When to Expect Your Tax Refund in 2019
Introduction
It's that time of year again where many people are eagerly awaiting their tax refunds. The question on everyone's mind is when will they receive their refund in 2019? In this article, we'll discuss the factors that can affect the timing of your tax refund and provide some tips on how to track it.
Factors Affecting the Timing of Your Tax Refund
The timing of your tax refund depends on several factors. Firstly, the method you used to file your tax return can impact the processing time. E-filing is generally the fastest method as it allows the IRS to process your return quickly. If you filed a paper return, it can take up to six weeks for the IRS to process it. Another factor that can impact the timing of your tax refund is the complexity of your return. If you claimed certain tax credits or deductions, such as the Earned Income Tax Credit or the Additional Child Tax Credit, your refund may be delayed. The IRS is required to hold refunds for returns claiming these credits until mid-February to combat fraud.
When to Expect Your Refund
If you e-filed your tax return and did not claim the above-mentioned credits, you can expect to receive your refund within 21 days. The IRS has a tool called "Where's My Refund?" on their website that you can use to track the status of your refund. You'll need to provide your Social Security number, filing status, and the exact refund amount to use the tool. If it's been longer than 21 days since you e-filed your return, there may be an issue with your refund. Contacting the IRS is the best way to resolve any issues or further inquire about the status of your refund.
What to Do with Your Refund
Once you receive your tax refund, it's important to consider how you'll use it. It can be tempting to splurge on a big-ticket item or take a vacation, but it's important to be responsible with your money. Consider paying off any high-interest debt, building up your emergency fund, or investing in your future.
Conclusion
In conclusion, the timing of your tax refund depends on several factors such as the method you used to file your return and the complexity of your return. If you e-filed your return and did not claim certain credits, you can expect to receive your refund within 21 days. Remember to use your refund wisely and make responsible financial decisions.
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