Admin No Comments

Where Is My Refund? IRS E-File Refund Cycle Chart

IRS e-file Refund Cycle Chart for 2016

2016 IRS e-file Refund Cycle Chart with Direct Deposit and Check dates

IRS e-file Refund Cycle Chart for 2016IRS e-file Refund Cycle Chart for 2016 with Direct Deposit and Check dates provided below are based on filing and transmitting as early as January 19, 2016. This has not been and will not be published by the IRS. The IRS now says most refunds will be issued within 21 days of your return being accepted. This general estimate doesn’t satisfy everyone and now many independent sites try to estimate dates when refunds will be sent. The IRS e-file Refund Cycle Chart for 2016 with Direct Deposit and Check dates are only estimates by various website owners. It might give you a good idea, but never bank on it because many issues arise and delay tax refunds.

When will tax season open? Once we know the date tax season open, the estimated tax refund direct deposit dates will likely be updated.

Here are the latest dates we have already seen published for tax refund direct deposits:

Here are the latest dates we have already seen published for tax refund direct deposits:

DATE ACCEPTED DIRECT DEPOSIT SENT PAPER CHECK MAILED
Jan 18 – Jan 24, 2016 Feb 5, 2016 Feb 10, 2016
Jan 25 – Jan 31, 2016 Feb 12, 2016 Feb 17, 2016
Feb 1 – Feb 7, 2016 Feb 19, 2016 Feb 24, 2016
Feb 8 – 14, 2016 Feb 26, 2016 Mar 2, 2016
Feb 15 – 21, 2016 Mar 4, 2016 Mar 9, 2016
Feb 22 – 28, 2016 Mar 11, 2016 Mar 16, 2016
Feb 29 – Mar 6, 2016 Mar 18, 2016 Mar 23, 2016
Mar 7 – 13, 2016 Mar 25, 2016 Mar 30, 2016
Mar 14 – 20, 2016 Apr 1, 2016 Apr 6, 2016
Mar 21 – 27, 2016 Apr 8, 2016 Apr 13, 2016
Mar 28 – Apr 3, 2016 Apr 15, 2016 Apr 20, 2016
Apr 4 – Apr 10, 2016 Apr 22, 2016 Apr 27, 2016
Apr 11 – Apr 17, 2016 Apr 29, 2016 May 4, 2016
Apr 18 – Apr 24, 2016 May 6, 2016 May 11, 2016
Apr 26 – May 1, 2016 May 13, 2016 May 18, 2016

As each year comes to a close and the next tax filing season approaches, early tax filers start to think and ask the big question. When will I get my tax refund? The estimated 2016 IRS Refund Cycle Chart can now be found at countless websites for the 2016 tax season. Be cautious though, the charts you find are not “official” and the dates when you should expect to receive your refund will not all be the same. Why? The official IRS Refund Cycle Chart published by the IRS is no more. Since they stopped publishing an official refund cycle chart, various independent versions are now created each year based on estimates and prior year trends.

There are slightly different versions of the tax refund schedules scattered across countless websites to help tax refund hunters track down that magic date. These refund cycle charts will crop up more and more as the year comes to a close. Most are just guesstimates, some even educated guesses. Many times the refund charts you find are just duplicates of the prior year with slightly adjusted dates.

There are various tax situations for every taxpayer and this is why prediction as to when you will get your tax refund can be difficult; and, every year there will be glitches with one process or another at the IRS which could delay your refund. Since an official IRS refund calendar is a thing of the past, when taxpayers can expect to receive their tax refund in 2016 remains a mystic idea. This is likely why the IRS now firmly sticks to a general statement to everyone that “your tax refund should arrive within 21 days”.

*SOURCE

 

Admin No Comments

10 Important Tax Dates for 2016

Half the grunt work involving taxes is knowing how much time you have to get certain tasks done. Of course, you know the deadline to file taxes. (Or, do you? This year is different.) But there are other key dates that may affect your filing.

For example, Jan. 15 is the deadline for self-employed workers and others who pay quarterly estimated tax to pay their fourth-quarter tax payment for 2015. However, you can skip this estimated payment without penalty if you file the return and pay the balance in full by Feb. 1—yet another deadline to remember.

Here are nine more key dates to put on your 2016 calendar while you prepare your 2015 individual income tax returns, courtesy of H&R Block.

1. Tuesday, Jan. 19. The IRS begins accepting individual electronic returns.

Related: From Boob Jobs to Body Oil, 5 Surprising Tax Deductions

2. Monday, Feb. 1. Take note, early-bird filers. Companies have until this day to mail out W-2 forms to their employees. This is also the deadline for businesses to send 1099 statements that report non-employee compensation, bank interest, dividends and distributions from a retirement plan. These forms help to calculate your total taxable income.

This is also the deadline for self-employed individuals to file and pay in full their fourth-quarter estimated tax payment to avoid a penalty.

3. Tuesday, Feb. 16. Financial institutions must mail out 1099-B, 1099-S and 1099-MISC forms by this date. 1099-B forms detail sales of stock, bonds or mutual funds through a brokerage account. 1099-S forms relate to real estate transactions. 1099-MISC forms show other income such as rent and royalty payments or prizes and awards from TV or radio shows.

4. Monday, Feb. 29. Farmers and fishermen who have a balance due on their taxes must file their individual tax returns and pay the balance by this deadline to avoid late-payment penalties.

Related: 4 New Tax Rules to Know Before You File

5. Monday, April 18. This is the deadline to submit individual tax returns for the year 2015 or to request an automatic extension, which provides an additional six months to file your return. However, your tax payment is still due by April 18 and can be submitted with the extension form.

Typically, the tax deadline falls on April 15. But Emancipation Day — a Washington, D.C., holiday — is being officially celebrated on Friday, April 15, this year, pushing the tax deadline to the following Monday for most of the nation.

This is also the last day to make a contribution to a traditional IRA, Roth IRA, Health Savings Account (HSA), SEP-IRA or solo 401(k) for the 2015 tax year. If you file an extension, you have until Oct. 15 to fund a SEP-IRA or 401(k).

For those who are years’ behind on their taxes, this is also the final deadline to file an original tax return for 2012 and still claim a tax refund. Generally, refunds expire three years from the original due date of the tax return. This is also the deadline to file an amended tax return for 2012 and still claim a refund.

Related: 14 Outrageous Tax Deductions the IRS Denied

6. Tuesday, April 19. Due to Patriots Day on April 18, the deadline to file federal income tax returns in Maine and Massachusetts is pushed to this day.

7. Wednesday, June 15. U.S. citizens living abroad must file individual tax returns and pay any tax due by this deadline, or file a four-month extension.

8. Saturday, June 30. For taxpayers who have over $10,000 in total in foreign bank accounts, this is the deadline to file a Foreign Bank Account Report for the tax year of 2015. These forms must be filed electronically and extensions aren’t allowed.

9. Monday, Oct. 17. If you filed for an extension, this is the final deadline to file your individual tax return for 2015. This also applies to U.S. citizens living abroad who filed an extension.

If you requested an automatic extension, this is the final deadline to fund a SEP-IRA or solo 401(k) for the 2015 tax year.

This story was updated to correct the final deadline to fund a SEP-IRA or solo 401(k) for the 2015 tax year from November to Oct. 17.

*SOURCE