● Tax refundsThe vast majority of taxpayers overpay their taxes through the year, and are entitled to a tax refund from the IRS and/or the State following submission of their returns.
Of course, there isn't a great deal of sense in giving your money interest-free to the government, but that is how most taxpayers seem to like it, so who are we to argue?!
The benefit is that your tax preparation fees can be deducted directly from the refund, so that you do not have to pay your fees up front. However, the tax refund can take some time, depending on how you elect to receive it. Here are the options:-
A check in the mail from the IRS or StateThis will typically take from four to six weeks. Once you receive the refund check, it can be deposited into your bank account, or can be cashed at many banks.
Direct Deposit into your bank account by the IRS or the StateAs long as you have a bank account, you may prefer this option instead of the "check in the mail". Once your tax refund is approved, it will be automatically transfered into your bank account via direct deposit. This will typically take some two to three weeks after we file your tax return with the IRS.
A QuickCheck from Royal TaxesIf you would like to access your tax refund monies more quickly, our QuickChecks service will allow you to collect a check from our office, typically seven to ten days after we file your return. This is subject to preliminary approval by the IRS of your tax return and refund.
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