BUSINESS

IRS Refund 2013: Here's What You Need To Know

04/06/2013 01:19 pm ET

It’s pretty much the only good thing about tax season: Your tax refund.

After you file your taxes, the government (both state and federal) will issue you a refund if you paid more in taxes than you actually owe. Last year, the average tax refund was $2,803.

According to the IRS, most refunds are received within 21 days after filing.

This year, however, added tax reviews, as well as a software glitch, has caused some refunds to be delayed.

If you don’t receive your refund within four weeks, use the IRS’s Where’s my refund? tool to track it down.

Every year, millions of dollars worth of tax refunds go unclaimed because people don't file tax returns. On April 15, $900 million in unclaimed tax refunds will become property of the U.S. government.

Remember: Tax Day 2013 -- the deadline to file your 2012 taxes -- is Monday April 15, 2013. Failure to file your taxes on time can result in a penalty and more. If you need an extension, file this form by April 15.

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