Tag Archives: income tax

West Virginia income tax modification: prospect for senior citizens

Recent news on West Virginia’s tax structure revealed that tax modifications of West Virginia substantially differ from the income tax modification and credit modification.

Tax exemptions in West Virginia has reveled some interesting fact about the senior citizens of the state. The government allows an exemption of $2000 on tax for each person. Besides, surviving spouse who has not married again before the end of the taxable year, for which tax return has been filed, have been given the right to claim an additional tax exemption that amounts 2 taxable years, after the death of his/her spouse.

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Federal Income Tax Refund Status

People struggling with their finances keep checking their federal income tax refund status, as an early refund would provide them the much required financial boost. Many people, however, are not aware of how to find this tax refund status online. This status check can be quite baffling, at times, since you should know about the state that manages the refund process.

Federal Income Tax Refund

Time taken to receive a refund depends on what technique you have used to file your returns – electronic, via US mail, etc. Filing via post is definitely a slower process than filing through email. Hence, it takes around six weeks to receive a refund after IRS receives your return file by post, and around 3 weeks in case of email.

You can also choose the mode of payment you would like to receive your refund through. There is an electronic transfer or a direct deposit, which is definitely quicker than the other option, check via mail. The selection of mail payment should be made in form 1040 while filing the return. If you want IRS to pay you via electronic payment option, you need to fill up a separate 8888 form.

How to Check Federal Income Tax Refund Status?

If you want to check Federal income tax return status, you can visit the official IRS website (irs.gov) and go to ‘Where’s my refund’ page. Or you can check it over the phone by dialing 1-800-829-1954. You cannot, however, check the status immediately after filing the return. In case of email filing, you can check it after 3 days, and in case of mail, you can know your status after 3 weeks.

How to Get Quick IRS Tax Refund?

One of the major reasons in day of tax refund, other than mode of filing it, is errors in the form. By eliminating these common errors, you can avail a quick refund:

  1. Incorrect Social Security Number
  2. Incorrect income report
  3. Arithmetical errors in calculating deductions, taxable income, earned income credit, total tax payments, etc.
  4. Common mathematical errors
  5. Particulars not filled in, or filled in under wrong headings

Besides these delays, each state has different rules for tax refund process. You can visit the IRS website and know about rules governing tax refund process in your state. You can also visit aicpa.org/ to check federal income tax refund status.