A tax refund is money returned to you by the US Treasury if you overpaid your state or federal taxes during the previous year. For instance, if your employer withheld more taxes than necessary from your paycheck or if you're self-employed and overpaid your quarterly estimated taxes, then you can get that money back via the refund.

Taxes can begin being filed on January 27, but refunds could hit accounts at different times depending on choices made when filing.

As the tax season approaches, it's crucial for businesses to submit wage statements and information returns to the IRS by January 31.

As tax season kicks off, the IRS has set new deadlines for filing tax returns to ensure taxpayers receive their due refunds. These deadlines, part of the Refund Statute Expiration Date (RSED), aim to uphold transparency and compliance with tax regulations.