How Do I Know If My Tax Refund Is Accurate?
Check for Accuracy
Have you received a tax refund that does not appear accurate? How do you know what you have received as a refund from the government or your state is accurate? Follow the steps outlined below to determine the accuracy of your refund.
People make mistakes. So do businesses. Of course, the government is often wrong as well. You may have received an erroneous refund. The first check is to review any notices accompanying your refund. The government typically sends a statement showing what you reported on your tax return, and any variances from their calculations. Take out a copy of your return and compare the line items. Did you make a mistake or did the government? This is one way to answer the question of how Do I know if my tax refund is accurate?
Contact the Government
Call the governmental agency who issued your return and try to discuss with them the return. Being polite and curious often is of assistance. When calling have your tax identification number, which is typically your social security number, and a copy of your return readily available. Ask for an explanation of any variances between your return and the refund you receive.
Contact a Professional
If you are having difficulty understanding your refund, try contacting an accountant or tax professional. This may allow you to obtain expert advice and assistance in talking with the governmental agency, with little effort on your part. This may lead to a more positive outcome, and will generally allow you to learn how to know your tax refund is accurate, but will cost a lot more than handling the affair for yourself.
Finding out your tax refund’s accuracy is easy if you do your research, contact the governmental agency issuing your refund or contact a professional.
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