If your tax return has been filed and you have not received your refund, you may want to check on the status of it.
The IRS states that nine out of 10 e-filed tax returns with direct deposit will be processed within 21 days of IRS e-file acceptance. Mailed paper returns: If you filed a paper return, please allow 4 weeks before checking the status. Refund processing time is 6 to 8 weeks from the date the IRS receives your tax return.
If you have not received your refund as per the above time frame the IRS has provided, there may be an issue with your return. Make sure to check the Refund Status Website to ensure the IRS has received your return and if there are any notices that reflect a delay. Also please ensure you have checked your mail and provided all IRS correspondence to your accountant so that they can address any issues with your submitted return in order to release your refund.
As the 2022 filing season begins, the IRS encourages taxpayers to file electronically when they are ready and choose direct deposit to get their refund.
Below are 3 important items to consider when deciding to form your LLC as an S Corp (1120S) or a Partnership (1065): Taxes Only S-corporations
