Thursday, April 15, 2010

What Happens After I File? Answers to Most Frequently Asked Questions

Most taxpayers have filed their return by now. Here are answers to the top questions our support department is answering today.

Q. How do I check on the status of my Refund?
A. You can go online to check the status of your 2009 refund 72 hours after IRS acknowledges receipt of your e-filed return. For paper returns submitted by mail, check online after 3 to 4 weeks. Be sure to have a copy of your 2009 tax return available because you will need to know your filing status, the first Social Security number shown on the return, and the exact whole-dollar amount of the refund. You can check the status by:

    • Going to www.IRS.gov, and click on "Where’s My Refund"
    • Call 1-800-829-4477 24 hours a day, seven days a week for automated refund information

Q. What documents should I keep?
A. Normally, tax records should be kept for three years, but some documents — such as records relating to a home purchase or sale, stock transactions, IRAs and business or rental property — should be kept longer.
You should keep copies of tax returns you have filed and the tax forms package as part of your records. They may be helpful in amending already filed returns or preparing future returns.

Q. I think I made a mistake on my return. What should I do?
A. Errors may delay your refund or result in notices being sent to you. If you discover an error on your return, you can correct your return by filing an amended return. Taxbrain customers can amend a 2009 federal return that was e-Filed on Taxbrain and acknowledged by the IRS. Learn more about filing an amended tax return here.