The Taxpayer Advocate Service has published an article titled “NTA Blog: Lifecycle of a Tax Return,” which presents an inside look to the process of tax return. The article begins as follows:
The IRS has gotten quite good at processing returns and issuing refunds quickly, and most taxpayers during this filing season have experienced no problems. More than 90 percent of taxpayers file their returns electronically. These taxpayers often receive their refunds within three weeks, sometimes even under a week, and those who file paper returns generally receive their refunds within six weeks. The majority of taxpayers who don’t experience problems likely give little thought to how their return was processed.
To view the full article, click here: “NTA Blog: Lifecycle of a Tax Return”.
Posted by Bella Hoang, Managing Associate Editor, Wealth Strategies Journal.