Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Tax Refund in Record Time!
Old 03-28-2014, 06:00 AM   #1
Full time employment: Posting here.
 
Join Date: Jul 2011
Posts: 721
Tax Refund in Record Time!

I woke up this morning to find some extra money in my account!

With Fidelity's delay in providing tax statements, I waited until last Saturday to prepare our taxes. Using TurboTax, I finished them up and submitted them electronically and 6 days later... BOOM... $ back to its rightful owner!

But since when does the IRS process returns in 6 days (technically less than 6 days)? Not sure how it all works behind the scenes- I'm sure it's largely computerized now, especially if you don't have a tax return with big audit risk. But I have to say, it's seems like the IRS is getting faster every year with refunds... this is definitely the first year the IRS refund has popped in my account before the state. If memory serves, it's been more like 7-10 days for state and 2-3 weeks for fed.

Anyone else seeing this trend??
__________________

__________________
panacea is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-28-2014, 06:19 AM   #2
Thinks s/he gets paid by the post
jollystomper's Avatar
 
Join Date: Apr 2012
Posts: 1,357
For the first time in years I have refunds for both federal and state. I filed both electronically on March 18th. State refund was deposited in my account on March 24th, federal on March 26th. I was pleasantly surprised.
__________________

__________________
Current target FIRE date: Under negotiation, can happen anytime.
jollystomper is offline   Reply With Quote
Old 03-28-2014, 06:19 AM   #3
Thinks s/he gets paid by the post
Dash man's Avatar
 
Join Date: Mar 2013
Location: Limerick
Posts: 1,668
Last year we filed using TurboTax and got our refund in 8 days. This year it looks like we'll be sending them money (
__________________
Dash man is offline   Reply With Quote
Old 03-28-2014, 07:24 AM   #4
Full time employment: Posting here.
 
Join Date: Jan 2010
Location: dubuque
Posts: 618
If you are getting a refund, you are only getting back the principal on the loan you gave to the government, so why would it take a long time. If you hadn't paid too much tax to begin with, you wouldn't have had that problem.
__________________
frank is online now   Reply With Quote
Old 03-28-2014, 07:46 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,256
I filed mine late on the 21st and got the money this morning... much faster than before...

But then again I only got $24....
__________________
Texas Proud is offline   Reply With Quote
Old 03-28-2014, 08:53 AM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,616
How about this for a record:

I adjusted my tax withholding from my first paycheck in January to be $0. The taxes that would normally have been taken out appeared in the direct deposit to my checking account. So I got my "refund" without even having to file a tax return!

When I eventually file my return, I will have my refund applied to my 2014 taxes to cover the taxes I haven't had taken out of my paychecks this year.
__________________

__________________
LOL! is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What are you doing with your tax refund? Maenad FIRE and Money 47 03-21-2013 04:51 PM
Can I buy iBonds electronically with a tax refund? Midpack Other topics 4 01-31-2013 01:48 PM
How to Categorize Tax Refund/Expense Record-keeping Amethyst FIRE and Money 11 04-08-2009 08:12 PM
Federal Tax Rebate/Refund Question dex FIRE and Money 21 04-01-2008 08:09 AM
AGI and State Tax Refund jazz4cash FIRE and Money 12 02-14-2007 09:54 AM

 

 
All times are GMT -6. The time now is 06:34 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.