Teipen Logo

Checking on your refund status couldn’t be easier

Posted on April 5, 2018

Do you have a tax refund headed your way? Close to 83% of Americans do, according to the CPAs at Teipen Selanders Poynter & Ayres.

What’s the average federal tax refund? It varies widely with income, say our CPAs, but the IRS says for most citizens, it is about $3,000, or approximately 6 – 7% of the average American income.

If you know you’re getting a refund, it’s good to know when to expect the funds. That’s why the IRS developed the Where’s My Refund? tool. Located on the IRS.gov website, the tool provides taxpayer access to their refund status anytime. Here’s how it works:

  • To use it, you need web access and three pieces of information; your Social Security number, filing status, and the exact amount of your refund.
  • You can begin checking on your refund status 24 hours after the IRS receives your e-filed return.
  • Where’s My Refund? includes a tracker that displays your refund progress including: when the IRS receives your return, when your refund is approved, and the date the IRS issues your refund.
  • Where’s My Refund? updates once every 24 hours, usually overnight.
  • There is also a free app for your mobile phone: IRS2Go app.
  • If you filed an amended return, you can still get information by using the Where’s My Amended Return? IRS website tool.

The IRS issues most direct deposit refunds on electronically filed returns (the quickest way to receive your refund) in less than 21 days, but some refunds may take longer. Of course if you request an actual mailed check, it will take longer. And if you file a paper return, it takes much longer — more than six weeks on average – so go electronic! It’s faster, easier and safer.

Can you track your Indiana state refund? Of course! Go to: https://secure.in.gov/apps/dor/tax/refund/, Indiana Dept. of Revenue’s secure site. Just plug in your SSN, refund amount, and the tax year of your refund, and the site will provide you with your refund status update.

One other thing to note: There is a misconception that a tax transcript can help taxpayers determine the status of their refund. The information included on your transcript does not necessarily reflect the amount or timing of your refund. Transcripts are best used to validate past income and tax filing status for loan applications, and to help with tax preparation.

If we can help you answer any tax-related questions, give us a call. We’re always happy to help – even last minute.