Millions of taxpayers will get tax refunds from the government this year. But if you've already filed, you might be wondering when you'll actually receive yours.
In the following video, Dan Caplinger, The Motley Fool's director of investment planning, shows you how you can find out the status of your IRS refund. Dan notes that you have to wait a certain period after filing your taxes, with electronic filing requiring 72 hours of processing time while paper filings can require as much as three to four weeks. After that period ends, you can go to the Where's My Refund page of the IRS website to get more information -- but Dan notes that you'll need to have your Social Security number, filing status, and the exact dollar amount of your expected refund to use the tool. Armed with that information, you can learn the current status of your IRS refund and when you can expect to see money hit your account. Dan concludes that asking for direct deposit is a great way to get your IRS refund faster.
How to get a bigger refund
Tax increases that took effect at the beginning of 2013 affected nearly every American taxpayer. But with the right planning, you can take steps to take control of your taxes and potentially even lower your tax bill. In our brand-new special report "How You Can Fight Back Against Higher Taxes," the Motley Fool's tax experts run through what to watch out for in doing your tax planning this year. With its concrete advice on how to cut taxes for decades to come, you won't want to miss out. Click here to get your copy today -- it's absolutely free.
Dan Caplinger and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.