| Every citizen must pay their taxes annually. It is their | | | | your social security number and the filing status. |
| obligation to the government. The tax liability is usually | | | | Social Security Number is your IRS Individual Taxpayer |
| proportionate to the declared gross taxable income | | | | Identification Number. It is used in filing your tax return. |
| less any deductible items. The taxable income is then | | | | You won't be able to file if you don't have one. Filing |
| multiplied to the applicable rate. However, the amount | | | | status on the other hand pertains to your status as |
| actually paid is not the correct liability. Sometimes, there | | | | either single, head of household, married filing joint |
| are mistakes in the computation in your tax returns. A | | | | return, married filing separate return, or qualifying |
| tax refund will arise when the liability you actually owed | | | | widow (er). After filing, you might be asking when you |
| is less than what you have paid to the Internal | | | | will be receiving the refund. Your main concern here is |
| Revenue Service (IRS). The government is giving | | | | the money you will be receiving. That's the main |
| refunds to those who have overpaid their taxes. For | | | | reason why you filed for a tax refund anyway. Aside |
| example if you paid $500 but your liability is only $300, | | | | from waiting for the cash, you can have the option of |
| then you overpaid $200. | | | | using your claims for your current or future liability. |
| The problem however is, it's your responsibility to claim | | | | The amount will serve as a credit to your obligation. |
| for a tax refund. The government will just pay | | | | Thus your taxes will be reduced. This is good news |
| taxpayers who will be claiming the refund. That's why, | | | | for you. If you don't want it to be applied to your |
| you should check whether you have overpayment in | | | | current or future income tax liability, you can wait for it. |
| taxes. You need to visit the IRS website or just go in | | | | Back then, it actually takes twelve weeks for the |
| their office. You can then fill out the forms required and | | | | money to arrive. However, the government has taken |
| file your application. You should bring your tax return | | | | a move of making it only for six weeks. The |
| where an overpayment has occurred. Sometimes, | | | | taxpayers will be having the money in a less period of |
| they verify the authentication of your claims. You | | | | time. There are three options available to taxpayers on |
| should know the amount you will be claiming. IRS is | | | | how to get their tax refund. One is through their bank |
| asking the exact amount of the tax refund as well as | | | | accounts. |