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Minimalist Lifestyle Blog
  • Minimalist Finance - IRS eFile 2014 Tax Refund Cycle
  • Tracy Freese
  • Finance
Minimalist Finance - IRS eFile 2014 Tax Refund Cycle

Were you aware that the IRS changed its policy for early tax return submission in 2013? I wasn't either until I read this article by Frank Ellis. Apparently the IRS needs to warm-up before they begin accepting 2014 efile tax return submissions. So, while the IRS agents are stretching and doing squats in their cubicles, we taxpayers have to sit on our returns and subsequent refunds until January 31st 2014. This new rule appears to be permanent so early submitters like me will simply have to wait.

http://www.rapidtax.com/blog/wp-content/uploads/2014/02/2014-Estimate-Refund-Cycle-Chart.jpg

The IRS refund schedule recommends that if you want to receive your money faster that you go with the direct deposit via your bank option. They estimate that you should receive your refund via direct deposit in a week after your tax return has been filed electronically. If you are interested in filing your taxes early for 2014, you will need to have the following six pieces of information readily available. Don't have them? Simply file your taxes once you have everything ready.

  1. W-2 forms
  2. 1099 forms
  3. Bank Statements
  4. Brokerage Statements
  5. Receipts, and
  6. 2439 forms
Two things in life are certain - death and taxes. Hopefully after reading this blog post you can at least predict one of them with more clarity!
  • Tracy Freese
  • Finance