“How should I check my IRS tax refund?” It is one of the frequently asked questions among the American citizens. To begin with, provide your Social Security Number (SSN). Check it carefully so that it matches your exact number – any mistake will lead to postponed or even canceled the request. Also, a taxpayer should enter the Filing Status along with the expected refund amount. You should find it first through manual calculations or with the help of online calculators.
Many citizens do not prepare their own tax returns. It’s essential to know the taxable income first. Then, a taxpayer should open one of the websites with special tax tables to see which total annual revenue tax corresponds to that number. Next, one should compare that number to the actually paid one during the year. In case the paid amount is more than tax, one can count on a tax refund.
To sum up, a tax refund is estimated this way: The funds withheld for federal income tax – Total federal income tax for the year. It is done annually to avoid problems with taxpaying. The greatest share of those funds goes to pay Social Security and Medicare taxes. Sometimes, this money can also be used to pay off the state income tax.