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Tax Refund in Record Time!
Old 03-28-2014, 05:00 AM   #1
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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??

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Old 03-28-2014, 05:19 AM   #2
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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: June 2017 or +50K to the portfolio, whichever comes first
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Old 03-28-2014, 05:19 AM   #3
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Last year we filed using TurboTax and got our refund in 8 days. This year it looks like we'll be sending them money (
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Old 03-28-2014, 06:24 AM   #4
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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.
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Old 03-28-2014, 06:46 AM   #5
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I filed mine late on the 21st and got the money this morning... much faster than before...

But then again I only got $24....
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Old 03-28-2014, 07:53 AM   #6
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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.

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