LIGHTNING RELEASES (02/14/2014) - Harbor Financial is bringing its clients an important tool as they prepare to file their 2013 income taxes. The tool is the IRS tax refund cycle chart that lets filers know when they can expect to receive their income tax refund after they file their taxes.
This important information is just another tool that helps taxpayers make smart decisions during filing season, because as the chart reveals, filing electronically and using direct deposit means receiving the refund much sooner.
According to a Harbor Financial spokesperson, “The tax refund cycle chart is perhaps the most important piece of information the IRS releases, because everyone who is due a refund wants to know when they can expect to receive their funds after filing and how long it will take if they efile versus a regular check.”
Perhaps the most important information revealed on the Harbor Financial website is that the IRS decided to open the tax filing season later than originally planned, choosing January 31 as the opening date rather than the original date of January 21.
The delay was caused by the government shut down in October 2013 and any delay in opening the tax filing season can have a real impact on filers expecting a refund. Since the IRS will not accepting returns until they are ready, taxpayers need to know and check the refund schedule calendar.
When a filer uses tax software like TurboTax Online they can file as soon as they receive their tax documents, but the IRS will not accept filed returns until they are ready to open the tax filing season.
Their user friendly website provides tax payers with the ability to have control over their taxes, including the time of day they are filed, when they are filed and how they are filed. With mountain of papers to sign and paperwork to turn in, the many services and tools offered on their website helps those who are beginners as well as those who consider themselves to be tax experts.
Harbor Financial has packaged the IRS information into an easy-to-read report for tax filers. Best of all, they have included the full IRS tax refund cycle calendar and filers can quickly see just when they can expect their refund based on the date they file. Significantly, the calendar table reveals the difference between using direct deposit to receive a refund versus waiting for a traditional paper check.
More information is available here about the tax refund cycle chart. http://harborfi.typepad.com/tax/2011/06/new-tax-refund-schedule-for-2010-2011.html