You can’t control when you’ll get your tax refund but there is something you can do to speed up the process. Eight out of 10 taxpayers get their tax refund faster by using e-file and direct deposit. Choosing direct deposit also comes with other benefits you can’t afford to miss.
You’ll get future stimulus payments faster
Taxpayers who received their 2019 tax refund via direct deposit got their stimulus payments faster. Since there’s a third stimulus in the works, we suggest you file your taxes early and set up direct deposit. So, when the bill is passed, you’ll be one of the first in line to get the money.
It’s easy to set up
Setting up direct deposit is extremely easy. All you need is your bank account and routing numbers which can be found on the bottom of your checks. The first set of numbers is the routing number, the second is the account number. When you finish preparing your federal and state returns with ezTaxReturn, you’ll be asked how you’d like to receive your refund. Choose direct deposit then enter your banking information. Always double and triple check your numbers because missing a digit will delay your refund. And since this information is sent directly to the IRS, they’ll have your bank account information on file for future stimulus payments.
It’s safe and convenient
With direct deposit, there’s no chance of your refund being stolen or lost in the mail. Plus, you save yourself a trip to the bank because the money goes directly into your account. Once your return has been accepted, you can start tracking your refund using the IRS “Where’s My Refund?” tool. It’s the best way to find out when your money will be available.