Uncle Sam has held on to your money long enough. Get the fastest possible refund when you do your taxes this year. We have 4 tricks that are guaranteed to speed up the refund process.
People always say that the early bird gets the worm and in this case, it’s true. The earlier you file, the faster you’ll get your refund. Most tax providers know how bad you want your money so they’ll let you start your return before the IRS even opens. By doing so you’ll be first in line when the IRS begins accepting returns. Due to new IRS regulations, some filers may not get their refunds as early as they have in the past. Filers claiming the Earned Income Tax Credit or Additional Child Tax Credit will not receive their refund before mid-February. If you claim these credits and choose direct deposit, the earliest you’ll see your refund is February 27th.
Double check your information
Nothing slows down a return more than missing or incorrect information. Before you send off your return, double check all your entries. Common mistakes that can delay your refund are:
- Misspelled names
- Wrong or missing Social Security numbers
- Filing status errors
- Inaccurate account numbers
- Forgetting to sign and date your return
- Claiming the wrong amount of credits and deductions
Why make your life harder than it has to be? E-filing is faster, easier and more convenient than doing your taxes by hand. With tax preparation programs like ezTaxReturn, there’s no need to be a tax expert. They’ll catch potential mistakes, prepare the necessary forms and eliminate your need for a calculator. Simply answer their questions using the information on your tax documents and they’ll handle the rest. Most filers receive IRS acknowledgement within 24 hours. Once your return’s been accepted, you can begin tracking your refund using the “Where’s My Refund?” tool on the IRS website. 9 out of 10 e-filers receive their refunds within 21 days.
This is a far cry from what happens when you file by mail. The IRS usually takes between 6-8 weeks to process paper returns and issue a refund. And that’s with your fingers crossed hoping there weren’t any mistakes.
Request direct deposit
When it comes to getting your refund fast, e-file and direct deposit are a winning combination. In fact, over 90 million filers chose to have their refunds direct deposited last season. The biggest draw is that there’s no chance of your refund being lost in the mail. Once the IRS releases your money, it’s deposited right into your checking or savings account. As long as you provide the correct bank account and routing numbers, you won’t experience any delays.