Tax season can be confusing for many, but here at Coast One Tax Group, we have your back. Getting your tax refund from the IRS has never been easier.

INCOME TAX FILING

If you wish to file taxes online, it’s a simple process. The IRS is set to start accepting federal income tax returns on February 12th, and the deadline for filing your federal income tax return is April 15, 2021. Note that this is separate from the state and local tax return deadlines. Be sure to look up your state and local tax laws to determine the deadline for those tax returns.

To file a return, you must:

If you are unable to file your return by April 15th, the IRS does offer extensions of up to six months. To receive an extension, you must file Form 4868 with the IRS. This does not, however, give you any extra time to pay your taxes. To stay clear of penalties, you must pay the entire amount owed by April 15th.

tax preparation

ESTIMATING YOUR TAX RETURN

To estimate your tax return, there are several options. Sites like TurboTax and H&R Block offer easy to use and quick tax return estimate calculators. Simply answer the questions asked and input your numbers into the calculator. You can always go back to this calculator if anything in your situation that could affect your tax changes. If you do not like the estimated tax due numbers you see, you can always look at alternate scenarios. What if you gave more money to a tax-exempt charity or contributed additional funds to your retirement account?

REFUND STATUS

In general, you will typically receive your tax refund within three weeks of filing if you elect to receive your refund by direct deposit. If you choose to receive a check in the mail, it may take up to two months to receive your refund. You may also check your refund status on IRS website by logging in on IRS.gov and choosing option “Get your Refund Status”