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January 31, 2011 12:00 am
An App for Tracking Your Tax Refund
The IRS has announced an app for the iPhone and Android called IRS2Go. It allows taxpayers to find out the status of their refunds and other tax information. Information on tax refunds will be available within 72 hours of receiving an acknowledgment from the IRS for an e-filed tax return. It will take longer for paper returns filed by mail.
App users can also receive daily tips and reminders from the IRS by entering their e-mail address.
Source: IR-2011-8
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Tax Glossary
Amount realized
A statutory term used to figure your profit or loss on a sale or exchange. Generally, it is sales proceeds plus mortgages assumed or taken subject to, less transaction expenses, such as commissions and legal costs.
