Tax season is approaching fast, and there is no denying, it can be a stressful thing. You have to gather papers, get the right documents to fill the tax files on time. Then there is the tax refund. Whether you are looking for a state tax refund or federal tax refund, you have to know certain few things. We are going to share them here for you to understand. Now, let’s get started.

Why there is state tax refund and federal tax refund

A tax refund happens when you pay more taxes than you had to. While filling out the w-4 form, you fill an amount that would be withheld from your account. When you have filled the way, you will receive a tax refund. In another case, there is a tax credit that could be returned to you as a tax return. While some states have a state tax refund and some have a federal tax refund.

What is the process for a tax refund?

Now, we will look at the process. The government (Stand and Federal) gets your tax return papers and soon begins the process. The processing varies depending upon how you have filed for it. If you did it online, it could take from two to four weeks. If you did via papers, then it could take from eight to sixteen weeks. Everything varies from state to state.

If there is any delay in the tax refund, then it could not happen without reason. Maybe there could be a mistake in your documents; perhaps there was a budget cut. If there is a delay, then you must contact the responsible authority. In some cases, there have been tax refunds frauds as well.

How to check for tax refund status

You have filed the taxes, but you want to know what the status is. Have the governments started the process yet when they will begin it? We are saying it for state tax refund and federal tax refund as well. You can check it on the IRS website as well. For every state, there is a different website where you can check the status. Some states even provide real-time status while some do lag behind.

So, this is a short guide to a tax refund. We are sure it will help you in understanding about tax refund.

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