How to Check the Status of Your Tax Refund Online

Written by Richard A. Chapo


So, you were pleasantly surprised to learn that you are getting a refund on your taxes. Congratulations! The question for most taxpayers expecting a return is, "Where is my refund?"

Check Your Refund Status Online

The easiest way to check on your refund is to askrepparttar IRS through IRS.gov. Onrepparttar 141391 home page ofrepparttar 141392 site, you will see a "Where's My Refund?" link. Usingrepparttar 141393 service is fairly easy. You will need a copy of your tax return to providerepparttar 141394 necessary information to getrepparttar 141395 status of your refund. Specifically, you need to provide your social security number, you tax filing status andrepparttar 141396 exact amount of your refund. The reasonrepparttar 141397 IRS requires all of this information is purely for security purposes, to wit,repparttar 141398 agency wants to make sure it is giving access only torepparttar 141399 taxpayer. Again, all of this information should be on your return. If it is not, something is very wrong!

Once you submitrepparttar 141400 required information,repparttar 141401 IRS will provide online results typically showing:

1. Thatrepparttar 141402 return was received and is in processing;

2. The expected mailing date or direct deposit date of your refund; or

3. Whether your refund could not be issued because of a delivery problem.

In some cases,repparttar 141403 results may alert you torepparttar 141404 fact thatrepparttar 141405 IRS is reviewing your tax return because of errors or questionable entries. In such a case, it is highly advised that you review your return with a qualified tax professional and make absolutely sure thatrepparttar 141406 return will stand up to scrutiny.

Deducting Points On Home Refinances

Written by Richard A. Chapo


Any points that you pay inrepparttar refinancing of your residence are tax deductible overrepparttar 141390 length ofrepparttar 141391 loan in question. The deduction is allowable only ifrepparttar 141392 residence is your primary home andrepparttar 141393 new mortgage replaces a previous one and/or is used to improverepparttar 141394 residence. Torepparttar 141395 extent that money is taken out to pay off credit cards and non-residence costs,repparttar 141396 points may not be used as a tax deduction.

Big Deductions By Refinancing Twice

If you refinanced your primary residence twice during 2004, you may be in for a very nice surprise. A significant tax deduction can be created when you refinance twice in one year. If you refinance a mortgage, you acceleraterepparttar 141397 deductible amount of points fromrepparttar 141398 first mortgage and may claimrepparttar 141399 points fromrepparttar 141400 first mortgage all at once.

As an example, assume that I refinanced my home in January 2004 and paid $3,000 in points. Interest rates continued to drop through 2004 and I then decided to refinance again in August. Because I paid offrepparttar 141401 original loan withrepparttar 141402 refinance, I am able to acceleraterepparttar 141403 value ofrepparttar 141404 points ofrepparttar 141405 January loan.

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