Even after your 2024 federal return is submitted, a few nagging questions often remain. Below are quick answers to five of the most common questions we hear each spring.
1. When will my refund show up?
Use the IRS’s “Where’s My Refund?” tracker at IRS.gov. Have these three details ready:
- Social Security number,
- Filing status, and
- Exact refund amount.
Enter them, and the tool will tell you whether your refund is received, approved or on the way.
2. Which tax records can I toss?
At a minimum, keep tax records related to your return for as long as the IRS can audit your return or assess additional taxes. In general, the statute of limitations is three years after you file your return.
Period of limitations that apply to income tax returns
- Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
- Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your personal return.
- Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
- Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
- Keep records indefinitely if you do not file a return.
- Keep records indefinitely if you file a fraudulent return.
- Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
Source: IRS
When it comes to retirement accounts, keep records associated with them until you’ve depleted the account and reported the last withdrawal on your tax return, plus three (or six) years. And retain records related to real estate or investments for as long as you own the asset, plus at least three years after you sell it and report the sale on your tax return. (You can keep these records for six years to be on the safe side.)
3. I missed a credit or deduction. Can I still get a refund?
Yes. You can generally file Form 1040-X (amended return) within:
- Three years of the original filing date, or
- Two years of paying the tax — whichever is later.
In a few instances, you have more time. For instance, you have up to seven years from the due date of the return to claim a bad debt deduction.
4. What if the IRS contacts me about the tax return?
It’s possible the IRS could have a problem with your return. If so, the tax agency will only contact you by mail — not phone, email or text. Be cautious about scams!
If the IRS needs additional information or adjusts your return, it will send a letter explaining the issue. Contact us at (888) 388-1040 about how to proceed if we prepared your tax return.
5. What if I move after filing?
You can notify the IRS of your new address by filling out Form 8822. That way, you won’t miss important correspondence.
Year-round support
Questions about tax returns don’t stop after April 15 — and neither do we. Reach out to one of our tax experts at (888) 388-1040 anytime for guidance.
Karla Hemmesch, EA and Senior Accountant comments,
“Tax questions don’t stop after filing. Retain key documents, such as tax returns and investment records, for the appropriate periods to ensure compliance. If you missed a credit or deduction, filing an amended return (Form 1040-X) within the allowed timeframe may help recover a refund. Always be cautious of scams—IRS communication is only by mail. For any issues or questions, consult your tax professional to stay on track.”
