April is that exciting month when the rain makes way for spring to blossom and the sunshine coaxes the creatures that hibernated all winter. Oh, and our taxes are due.
While most Americans dread tax time, it is imperative to stay aware of the ever-changing federal tax laws. The U.S. tax code exceeded 10 million words as of 2015, according to the Tax Foundation.
Imagine that there are more than 150 novels in front of you right now. That’s how big the U.S. tax code is. But thanks to all the tax preparation companies, many choices are readily available and filing is easier than ever.
The sweeter side of this bittersweet season lies in the fact that more than 70 percent of tax filers get a federal refund. According to the IRS, federal refunds that are electronically filed are typically processed within 21 days, while those who file by mail can expect to see their return within six to eight weeks. And the IRS makes it easy for citizens to check the status of their refund online.
Similarly, state refunds can be expected within two to three weeks if e-filed, and in up to eight weeks if the return was filed by mail.
While filing taxes can be a daunting task, the good news is that there are handy online resources already in place and able to swiftly provide answers.