Tax Talk 2016 FAQ


I’ve already filed my return, but I haven’t received my refund. How can I find out the status of my tax return?
 “Where’s My Refund?” is the quickest way to check on a refund, especially for taxpayers who e-file their tax return. E-filers can begin tracking their refund online within 48-72 hours of filing their electronic return. Paper return filers can start checking online about three to four weeks after their return is mailed.

The “Where’s My Refund?” service is available on the IRS Web site, Simple online instructions guide taxpayers through a process that asks for their Social Security number, filing status and the exact amount of their refund – all information shown on their tax return.

Once the information is submitted, results can include one of several responses, including:

  • That a return was received and is in processing;
  • The expected mailing date or direct deposit date of the taxpayer’s refund; or
  • Whether a refund has been returned to the IRS because it could not be delivered.

I always have my refund directly deposited into my savings account. This year, I want to split my refund up between my checking account, savings account and IRA. Can I do that?
Yes, you can. You can now split your refund into up to three accounts held by up to three different U.S. financial institutions, such as banks, mutual funds, brokerage firms or credit unions. You may still have your refund directly deposited into one account if that’s your preference. To split your direct-deposit refunds among two or three different accounts or financial institutions, you’ll have to complete the new Form 8888, Direct Deposit of Refund to More Than One Account.

How soon can I expect my refund?
Filing electronically will speed this up (unless the refund is really large).  Generally the refunds come faster than the IRS published three weeks (some portions of the year as fast as 10 days). The really large refunds are held up by the IRS due to the increase in identity theft.

 American Institute of Certified Public Accountants Texas State Board of Public Accountancy