Saturday, January 30, 2010

2009 IRS Tax Refunds

Taxes for 2009 – Status of Income Tax Refund, When It Will Be Mailed



According to IR-2009-101, the IRS anticipates an increase in tax refunds for the 2010 filing season. Limited-time credits and deductions like the first-time home buyers tax credit and the 2009 car tax deduction for new automobile purchases are expected to fuel this increase.

2009 IRS Tax Refunds from the United States Federal Government

The IRS requires an individual to file a tax return in order to claim a federal income tax refund, and sometimes, this is the only reason a person is required to file. Taxpayers are commonly due refunds because they had too much tax withheld from their paychecks throughout the tax year.

In this article, find out how long it should take to receive a 2009 IRS tax refund once a return has been filed and learn how to update a taxpayer’s mailing address with the IRS.

Taxes for 2009 – IRS Mailing Address for Refund of Taxes

The IRS has multiple mailing addresses. Which one a taxpayer should use depends on the form being filed, state or territory of residency, and whether a payment is enclosed. This means that anyone expecting a refund would be looking for an IRS address for those who are not enclosing payments.

The IRS has created a handy page on irs.gov that is searchable by state (in map form or list form). Individuals can easily find out where to mail federal income tax returns on this page.

When Will IRS Refund Checks Be Mailed? How Long Does It Take?

The time it takes to receive an IRS tax refund depends upon the type of return filed. Here are the three time frames taxpayers should know:

  • Federal Income Tax Refunds for Electronically Filed Returns (e-File) – These are issued within three weeks of tax return acknowledgement.
  • IRS Tax Refunds for Mailed Paper Returns – These are issued within six weeks of receipt.
  • Federal Government Refunds for Amended Returns – These are issued within eight to twelve weeks of filing.

All of the time frames above assume the federal income tax return filed was complete and accurate. Errors or incomplete returns may result in delayed refund checks or deposits. Taxpayers should keep in mind that direct deposits will be received faster than mailed refund checks.

Missing Federal Tax Refund Checks? Possible Mailing Address Errors

According to the IRS, taxpayer mailing address errors are a huge problem. In 2008, alone, over $120 million worth of tax refund checks were returned to the IRS because taxpayers did not have up-to-date mailing address information on their tax returns.

To learn how to update a mailing address with the IRS, see the article Federal Income Tax Refund Checks. Anyone considering a move around tax time may want to use direct deposit in order to guard against checks being returned to the IRS or simply lost in the mail (due to being forwarded).

Splitting Government Refunds & Checking Rebate Status

A little known fact is that most taxpayers may specify up to three bank accounts among which to split refunds of taxes. This must be done using Form 8888, Direct Deposit of Refund to More Than One Account.

Once a federal income tax return has been filed and acknowledged by the IRS, an individual may check the status of a refund online.