2009 tax refund schedule
For any of you folks curious about the status of your 2008 tax year refund (for a return filed in 2009), I thought I'd update this blog with the story of my tax return this year.
I filed a rather complex return on Sunday, February 15, 2009. Based on my return, I was expecting a refund from both the federal government and the State of Ohio. The feds accepted my return the same day I filed. The state accepted shortly thereafter.
I was originally told by H&R Block's Tax Cut software that based on info from the IRS, I could expect my federal refund to be direct deposited into my bank account on or before February 27, 2009. Hoping for "before" rather than "on" the 27th, I've kept an eye on my bank account and on the IRS website. When checking my filing status on the Tax Cut software yesterday, I followed a link to the IRS website section dealing with tax refund schedules and noticed that the date for the anticipation of my federal refund was now Tuesday, March 3. I'm not sure why this changed and there was no explanation. I have business related expenses I'd like to apply this refund to, so every day counts for me.
Lo and behold, I checked my bank account this morning (Tuesday, February 24, 2009) and discovered that the State of Ohio had deposited my tax refund. This rapid turnaround just nine days after initially submitting my return is very welcome indeed. Considering the problems folks in California and Kansas are experiencing with receiving their tax refunds, I can consider myself lucky (Just like Kansas and California, Ohio and many other states are battling potential budget deficits this year).
A quick check of my banking records from last year showed that exactly three days after Ohio deposited my refund, the IRS deposited my federal refund. Assuming that both agencies are following the same type of schedule this year, I expect to see a deposit from the IRS on Friday, February 27, 2009 - the exact date H&R Block originally told me to expect my refund.
Obviously it's better to get a small tax refund or no tax refund each year, rather than pay too much tax to the state or federal government and later get your money back in the form of a tax refund. But if you are waiting on your tax refund, hopefully my experience will be reassuring to you. It seems that our taxing authorities are doing their best to process returns and send out refunds in a timely manner.
I filed a rather complex return on Sunday, February 15, 2009. Based on my return, I was expecting a refund from both the federal government and the State of Ohio. The feds accepted my return the same day I filed. The state accepted shortly thereafter.
I was originally told by H&R Block's Tax Cut software that based on info from the IRS, I could expect my federal refund to be direct deposited into my bank account on or before February 27, 2009. Hoping for "before" rather than "on" the 27th, I've kept an eye on my bank account and on the IRS website. When checking my filing status on the Tax Cut software yesterday, I followed a link to the IRS website section dealing with tax refund schedules and noticed that the date for the anticipation of my federal refund was now Tuesday, March 3. I'm not sure why this changed and there was no explanation. I have business related expenses I'd like to apply this refund to, so every day counts for me.
Lo and behold, I checked my bank account this morning (Tuesday, February 24, 2009) and discovered that the State of Ohio had deposited my tax refund. This rapid turnaround just nine days after initially submitting my return is very welcome indeed. Considering the problems folks in California and Kansas are experiencing with receiving their tax refunds, I can consider myself lucky (Just like Kansas and California, Ohio and many other states are battling potential budget deficits this year).
A quick check of my banking records from last year showed that exactly three days after Ohio deposited my refund, the IRS deposited my federal refund. Assuming that both agencies are following the same type of schedule this year, I expect to see a deposit from the IRS on Friday, February 27, 2009 - the exact date H&R Block originally told me to expect my refund.
Obviously it's better to get a small tax refund or no tax refund each year, rather than pay too much tax to the state or federal government and later get your money back in the form of a tax refund. But if you are waiting on your tax refund, hopefully my experience will be reassuring to you. It seems that our taxing authorities are doing their best to process returns and send out refunds in a timely manner.
posted by Scott at
6:28 AM
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