How to Get a Jump on the 2014 IRS Refund Schedule

How to Get a Jump on the 2014 IRS Refund Schedule

The 2014 IRS refund schedule begins in late January, which is when you can first submit your income tax return.  Each year the IRS e-file start date is around January 27 but the IRS hasn’t yet announced the date when taxpayers can begin e-filing tax returns.

Get Started: File Early for a Quick 2014 IRS Refund

If you would like to get your IRS refund as fast as possible, there is something you can do: start early and e-file.   Tax software is available anytime, just go to the websites of any of the big-name commercial tax preparation companies like TaxAct or TurboTax.  Both companies are IRS-sanctioned e-file providers who offer free online or downloadable tax software.  You can create an account anytime and start typing in your tax information.

But you’ll have to wait for your W2 statements if you have a job.  The IRS requires employers to mail W2s to employees by January 31.  That means you can begin e-filing on or just after that date, provided you aren’t waiting for any other tax-related documents like 1099s.

Be Ready With Your Tax Return When W2s Come Out

So if you’re all ready to go by mid-January then all you have to do once you get your W2 is punch in the numbers from the W2 and hit submit to e-file.  The IRS will acknowledge receipt of your tax return within hours, sometimes minutes.

Official Word on the 2014 IRS Refund Schedule: 21 Days

From the moment the IRS says it got your electronically filed income tax return, it’s usually 21 days or less until you get your IRS refund.  So, that gives the 2014 IRS Refund Schedule a target date of February 21 at the latest if you submit your taxes the moment the IRS begins accepting returns. Sometimes the refund schedule is shorter and refunds are sent much quicker than 21 days.  It’s all written in plain English right here on the IRS website.

But three things remain the same for the 2014 IRS refund schedule:

  1. The earliest you can begin filing your federal taxes is the end of January.
  2. The fastest way to get an IRS refund is to file electronically and choose direct deposit
  3. 21 days is the turnaround time for tax returns and IRS refunds but refunds can get delayed.  On the other hand, lots of taxpayers get their refunds in less than 21 days.

No matter what anyone says or promises, these three points can’t be changed.  If someone promises a faster refund, it’s not because they have a connection inside the IRS.  It’s because they’re going to use the fastest method possible to get your refund: they’re going to e-file and choose direct deposit when they submit your return.  It’s nothing you couldn’t have done yourself!