The information in this article is up to date for tax year 2024 (returns filed in 2025).
Uncle Sam has held on to your money long enough. Get the fastest possible refund when you do your taxes this year. We have 6 tricks that are guaranteed to speed up the refund process.
What Is a Tax Refund?
A tax refund is essentially a repayment from the government when you’ve overpaid your taxes throughout the year. Many taxpayers eagerly anticipate their annual tax refund, often using it for significant financial goals like saving for retirement, paying off debt, or making major purchases. It’s a financial boost that can make a big difference in your budget.
Tax refunds typically occur because more income tax was withheld from your paycheck than necessary. When you file your tax return, the IRS calculates your actual tax liability and compares it to what you’ve already paid. If you’ve paid too much, the excess amount is returned to you as a refund. Both federal and state governments issue these refunds, and they can be a substantial part of your financial planning. Consulting a financial advisor can help you make the most of your tax refund, ensuring it contributes positively to your financial health.
How to Get a Faster Tax Refund
1. Start Planning in January
Don’t leave your taxes to the last minute. Start planning early to make sure you have everything you need so you can submit your return before the tax filing deadline. Keep in mind, filing late will not only delay your federal tax refund, but can also cost you late penalties. Missing paperwork or mistakes can delay your return and, depending on how complex your taxes are, tax prep can take longer than you expect. A federal tax refund occurs when you have overpaid your taxes throughout the year, such as having too much tax withheld from your paychecks or overestimating self-employment taxes. Once the IRS approves your refund, you must wait for your financial institution to process the direct deposit or for the paper check to be mailed.
Get a head start and use our tax prep checklist to see what information and documents you’ll need to gather.
2. File Early to Get Your Refund as Fast as Possible
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. Plus, it can reduce your risk of falling victim to a tax scam.
Sometimes scammers steal personal information to file a fraudulent return and pocket the money. Later, when you try to file your real return, it will be rejected because the IRS thinks you’ve already filed. It can take months to get the situation straightened out. Beat crooks to the punch by doing your taxes as soon as possible. File now!
3. Double Check Your Information So Mistakes Don’t Slow You Down
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
Miscalculations
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
4. E-File Your Taxes
Why make your life harder than it has to be? E-filing is faster, easier and more convenient than doing your taxes by hand.
ezTaxReturn makes it easy to e-file your taxes. Filing your simple federal tax return is free and all our customers receive clear step-by-step guidance and access to free customer service.
Whatever program you use to e-file your taxes, most filers receive IRS acknowledgement within 24 hours. Once your return has been accepted, you can begin tracking your refund using the “Where’s My Refund?” tool on the IRS website. Nine 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 currently takes 4 weeks or more to process paper returns and issue a refund. And that’s with your fingers crossed hoping there weren’t any mistakes.
5. Set Up Direct Deposit for the Fastest Tax Refund
When it comes to getting your refund fast, e-file and a direct deposit tax refund are a winning combination. In fact, over 93 million filers chose to have their refunds direct deposited last season. You also have the option of having your refund deposited into a checking account, which offers quick access to funds via a virtual debit card immediately after IRS acceptance. 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 with direct deposits.
6. Get Help Filing Your Taxes
If taxes intimidate you, you’re not alone. With so many details to track and forms to prepare, filing taxes can be daunting.
But with tax preparation programs like ezTaxReturn, there’s no need to be a tax expert. We’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 we’ll handle the rest.
Tracking and Timing
Once you’ve filed your tax return, the next step is to track your refund. The IRS offers several tools to help you stay updated on the status of your refund. The “Where’s My Refund?” tool on the IRS website is a popular choice. By entering your refund amount, filing status, and either your Social Security number or individual taxpayer identification number, you can get real-time updates on your refund status.
For those who prefer mobile access, the IRS2Go app provides another convenient way to check your refund status. Additionally, you can call the IRS Refund Hotline at 800-829-1954 for updates. Keep in mind that tracking the status of a state tax refund might take a bit longer and usually requires visiting your state’s Department of Revenue website. Staying informed about your refund status can help you plan your finances more effectively.
Common Refund Issues
Sometimes, despite your best efforts, issues can arise with your tax refund. If your refund is missing or destroyed, you can request a replacement check from the IRS. In cases where you’ve entered the wrong account or routing number, it’s crucial to contact the IRS at 800-829-1040 to stop the deposit and correct the information.
If you receive a paper check instead of a direct deposit, it might be due to an issue with your account information. Always double-check your details to avoid such problems. Occasionally, taxpayers might receive a refund they’re not entitled to; if this happens, it’s important to return the excess amount to the IRS promptly.
Delays in receiving your refund can also occur due to errors on your tax return, incomplete returns, or if you claim certain credits like the earned income tax credit (EITC) or the additional child tax credit (ACTC). These claims often require additional verification, which can slow down the process. By being aware of these common issues and knowing how to address them, you can help ensure a smoother tax refund process.
Want your tax refund ASAP? File your taxes with ezTaxReturn for a fast, hassle-free experience and get your biggest refund quickly!
The articles and content published on this blog are provided for informational purposes only. The information presented is not intended to be, and should not be taken as, legal, financial, or professional advice. Readers are advised to seek appropriate professional guidance and conduct their own due diligence before making any decisions based on the information provided.
