Finance expert Mike Periu on how quickly you can expect a refund from the IRS for this year’s taxes. Good News From the IRS.
Once in a while we receive good news from the IRS. Since it doesn’t happen often, we need to savor it. This time, the IRS announced that for tax year 2011 they processed 90 percent of tax refunds in 21 days or less for the vast majority of filers. Only exceptional cases fell outside of this window. For tax year 2012, they expect to keep the same level of performance. In addition to the refund window, the IRS has developed a new tracking system that allows filers to see exactly which stage of the review process their return finds itself. For electronic filers this system is available 24 hours after submission. For paper filers it’s available four weeks after submission. This isn’t good news for everyone. Some tax preparers believe that they IRS should issue refunds within three to five days given the technology the use and the requirements to e-file.
About Mike Periu
Mike is a seasoned executive with experience in small business finance and management. He is the founder of Proximo, LLC a leading provider of corporate, consumer and small business education and training services with an emphasis on finance and technology.
Mike Periu is also a leading national voice for individual empowerment through financial education and entrepreneurship. He has been interviewed over 500 times in national and international media, including NBC, Univision, CNN en español, Telemundo, HITN, TVE, RTE, SBS, MegaTV and others.
Mike writes regularly for American Express OpenForum, Yahoo! Finanzas and is a Huffington Post contributor.
Mike has degrees in Finance and International Business from Georgetown University. He is on the Board of Directors of the Council for Economic Education and was a Fellow at the Kauffman Foundation’s Labs for Enterprise Creation.