How Accurate Is The Government Refund Cycle Chart?
Each year millions of people are required to file tax returns. Many receive refunds. Normally high on the list of things to be concerned with is the question, “Where is my refund?” The government has provided a service for tax payers to answer just that question called the government Refund Cycle Chart.
Using the government Refund Cycle Chart
For electronic filers, the refund cycle chart appears to be quite accurate. Once your return is processed and approved, it is assigned an anticipated refund date. For those requesting direct deposit of their refund, the date assigned is the deposit date to the account (s) of the tax payers choice. For those requesting a paper check, the date is the date the check is expected to be mailed. For those who choose to mail in their returns, the refund chart appears to be accurate as well, but the information takes quite a bit longer to appear on the site.
Accuracy of the government Refund Cycle Chart
In recent years, the government Refund Cycle Chart has become more accurate. Direct deposits are normally deposited to the bank on the date specified by the chart. Any delay in the deposit from the government is usually related to a problem with the return itself such as a miscalculation of refund amount. Other delays in receiving the deposit are generally due to bank policies for availability of funds. The government Refund Cycle Chart for mailing paper checks does not appear to be as accurate however. There are too many variables involved in the mailing of paper checks for it to be totally accurate. Many times a delay in mailing checks, while not the fault of the government, leads tax payers who are anxiously awaiting the arrival of the mail believing that the chart is not accurate.