Q. I have a big refund coming. When can I expect to get it?
A. Usually, the earlier in the tax season you mail your return, the sooner your refund is received. If you file by mid-February, you should have your refund within four weeks. Last-minute filers should have their refunds within eight weeks. If you file by April 15 and the IRS hasn't mailed the refund by June 1, the government has to pay you interest on what it owes you. (In the fall of 2006, the interest rate was 8%.) You can check on the status of a late refund by calling the IRS at 1-800-829-4477. Have a copy of your tax return handy when you make the call. You'll need it to answer the questions that you'll be asked. If you file your return electronically, you're nearly guaranteed to get your refund faster than sending it by regular mail.
Q. When I got my refund check, it was for $188 less than I had requested on my return. I don't know why the IRS shorted me. If I cash the check, does that mean I agree with them?
A. No, Cashing the check will not prevent you from contesting the IRS refund amount. There's a good chance that the difference between what you expected and what you received is due to a mathematical error or another simple mistake. A common mistake is using the incorrect tax rates for your filing status. When the IRS notices an error, they will adjust your refund, accordingly. You should receive a notice from the Internal Revenue Service explaining why the change was made. (The explanation and refund are sent from different IRS locations.