Everyone loves the holiday season, with the expectation of family gatherings, lots of good food, and presents. That’s certainly the case at G.I. Tax Service. There’s nothing quite like going people-watching during this time of year and seeing all the excited faces and all the new items for sale.
Then comes New Year’s Eve and the making of New Year’s Resolutions and the celebration of the new year.
Next is January 2, and for many, a wall of trepidation comes down in a snap. Many people start thinking about their tax returns.
It can be a worrying few months for those with complex tax returns to file, but that worry isn’t necessary if you’re a client of G. I. Tax Service – especially for our financial services. The more you keep abreast of your taxes throughout the year, the more you’ll know as the countdown to tax-day begins. It relieves a lot of anxiety and you can get on with your life without the burden of worry.
Filing a Tax Return?
Glenn Sandler, CPA, defined G.I. Tax Service’s motto, “No Dime Left Behind™.” If you’re not sure whether or not you’ll be receiving a refund, don’t wait. Come in to a G. I. Tax Service near you and find out immediately. You may be pleasantly surprised! After all, statistics show that about 75% of taxpayers receive a federal tax refund each year!
And even if you will owe something to the government, we’ll work to make sure that you will owe the lowest possible amount.
Getting a Tax Refund?
If you are getting a refund, there are two ways that you will receive it.
One way is for you to wait patiently for a check in the mail.
The other and much more proactive way is to file an e-return and receive your refund right into your checking or savings account. This takes much less time.
Here’s the procedure when you’re expecting a tax refund after you’ve filed your return electronically (or had G. I. Tax Service file your return electronically for you).
- Bookmark the IRS’s Refunds page. This is where you’ll go to check on the status of your refund. The IRS website is https://www.irs.gov/. Their Refund Status page is at: https://www.irs.gov/refunds.
- If you send in your return by mail, wait about three weeks before you start checking the Tracking Refunds page.
- If you’ve filed your return electronically, you only need to wait between 24 to 48 hours before starting to check on the status of your return. That’s why it makes so much more sense to file electronically.
- When you check your refund status, you’ll simply input your social security number, filing status (single, married, etc.) and the exact whole dollar amount you expect to receive. Then just hit the Submit button.
- The tool will show you whether or not your return has been received. It may take a few days for the status of your return to change from “received” to “approved.” It’s best to be patient. Most people will receive their money in their bank account 21 days after their return has been accepted – as long as they are using direct deposit, of course.
- You can continue to check, if you like, because the next update after you enter your info will be “Refund Sent.”
- Although you have “direct deposit,” it may well be up to 5 days after the refund has been “sent” before your bank credits it to your account.
Using e-filing, you could receive your tax refund within a month. If you prefer to have your check mailed to you, it may be longer.
So, don’t delay, once the New Year rolls around. Get all your tax material in order, and once you’ve received the required documents from your employer and investment people, come in to G.I. Tax Service and get started on your return.
About: Founded in 2013 by Glenn Sandler, CPA, G. I. Tax Service is America’s premier provider of year-round tax preparation and financial services including tax planning and small business formation assistance. G.I. Tax also reaches out to military vets with turn-key franchise opportunities. G. I. Tax Service believes in corporate responsibility and is active in a variety of local charities that help military families.