Why the IRS Did Away With the E-File Refund Cycle Chart

Are you wondering about the absence of IRS e-file refund cycle chart for 2013? The Internal Revenue Service is going for a major revamp this year, and is considering a state of the art, transformed system to deal with refund issues. In recent times, frauds related to tax refunds have cost both the taxpayers and the IRS millions of dollars. Desperate times call for desperate measures. The overwhelming cases of frauds forced the revenue service to look for other options in order to stop such cases of fraudulent behavior. In view of the spurt in the number of fraudulent activities, the Internal revenue service is becoming stringent with rules, regulations, and checkpoints for curbing this menace.

A New Expectation for the Refund Cycle

The refund cycle chart does not work in 2013 and this trend is going to continue in the next years to come. The degree of success the new system is going to achieve is a matter of speculation and we need to wait and watch. The refund cycle chart lets the taxpayer know the expected date of getting their refunds. This was in cases where direct deposit for refunds was chosen and true only for the electronic tax return filing. If you chose paper check and filed by mail, the refund cycle is a little more vague and definitely longer.

About ‘Where’s My Refund’

‘Where’s My Refund’ allows the taxpayers to track their refunds online. The first point that the taxpayer must know is that you should consult the refund tracker only as a last resort. The time duration for getting the refund varies in e filing and postal filing scenarios. Those who opt for e filing should wait for at least 3-4 weeks before tracking the refunds. On the other hand, taxpayers who go for postal filing of tax returns need to wait longer.

This period may vary from 1½ to 2 months. This year, however, the taxpayers of both categories-electronic filing and check filing- have an indefinite wait since the IRS is tightening the noose this year on the fraudulent refund claimants. For e filers the tentative wait for refunds is approximately 21 days.

The New System

In order to say for sure whether the new tracking system is going to work, the IRS will need to wait at least a year. The revenue services try their best to provide an ideal refund communication which is fast, easy to track and safe from fraudulent behavior. In this system instead of a deposit cycle estimation that gives the exact date for refund, the taxpayer can actually track the money. The system gives pithy yet clear messages for the communication of the three main stages of the refund process. This includes return received, approved, and sent. With pen and paper, this is a well-conceived process from all angles.

The ‘return received’ message comes within 24 hours of acceptance of a tax return by the IRS in case of e filing and a month after in case of paper filing. Subsequently, you also receive the approved and sent messages as and when the time comes.

If you are ruing the absence of IRS e-file refund cycle chart, wait for this new chapter of IRS refund tracking process to unveil itself in the coming years.

Floyd Dudar CPA

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