Tax returns filed with the state by mail generally take about eight weeks to receive refunds, while returns sent in electronically take about three weeks. The refund disbursement time frame is different in each state, and other circumstances, such as volume of returns being processed, may hold up refunds.Know More
Depending on the state where an income tax return was filed, taxpayers can generally check the status of their refunds by phone or online. State taxing authorities are usually able to let a taxpayer know the status of her refund and can give general updates as to whether or not refunds are on schedule for that particular year. Most state taxing authorities need to know certain confidential data regarding a state tax refund, such as the taxpayer's Social Security number, the filing status and the exact amount of the anticipated tax refund. If the taxpayer cannot prove her identity, status updates regarding refunds may not be disclosed.
Taxpayers whose returns are sent through the mail may have to wait longer to learn about the status of their state tax refunds. If a taxpayer feels she has waited a reasonable amount of time for her refund to be processed with no refund forthcoming, the IRS advises that she should call her state taxing authority.Learn more about Income Tax
The three primary purposes of taxes are to fund the government, redistribute wealth and mitigate the negative effects of many consumer products. Without the taxation system, the government and most social services would not be able to function.Full Answer >
Ideally, you should adjust the number of allowances claimed on your W-4 so you avoid either having to pay additional taxes or receiving a large refund. Preventing a large tax bill keeps things affordable, while receiving only a small refund avoids loaning Uncle Sam your cash.Full Answer >
To avoid real estate capital gains taxes, you should satisfy certain primary residence rules, as noted by Forbes. These rules allow a home owner to exclude certain gains from income if the home serves as a primary residence for at least two of the five years before the sale date.Full Answer >
Most U.S. taxpayers with a traditional salary pay 6.2 percent of each paycheck as taxes for social security and 1.45 percent for Medicare, according to the California Tax Service Station. Additional amounts may be deducted from each paycheck for federal withholding or for state fees such as unemployment insurance.Full Answer >