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Thursday, February 7, 2013

Military Tax Returns

In our previous entry, we informed you on helpful information regarding the tax filing process and how to be prepared to make it as quick and easy as possible. For today’s entry, 108 Solutions will help you track your tax returns and inform you on when to expect your money!

Receiving your Return

Firstly, you must file an income tax return to get your refund on the extra taxes withheld from your military pay. What most may not know is that you can go as much as three (3) years back to get a refund. This means that you can still file a 2009, 2010, and 2011 tax return. Previous year tax returns must be mailed into the IRS, and can be filed at any time throughout the year.  

How can I check my return?
The IRS has developed a program for the New Year called “Where’s My Refund?” This program is quick, easy and secure to use. You can check when you will be receiving your refund within 24 hours after the IRS has received your e-filed tax return; or 4 weeks after you have mailed in all of your paperwork for your return. What you will need is your social security number, your filing status, and your exact refund amount.

When will I get my return?
Refunds/returns are sent 21 days from the time the return has been accepted. Conveniently, you have the option to receive your return through a direct deposit directly into the checking/savings account of your choosing. Or, you can have a check mailed to your address which usually will take a little longer than the direct deposit route.

The team here at 108 Solutions Military Loans and Financing hopes that this article will be very beneficial for you and that you get an exceptional refund!  

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