The information in this article is up to date for tax year 2023 (returns filed in 2024).
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.
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 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.
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.
IRS Free File allows qualified taxpayers to e-file their federal taxes for free if they have an adjusted gross income (AGI) of $79,000 or less. If you don’t qualify for IRS Free File, or want additional support, ezTaxReturn makes it easy to e-file your taxes. Simple tax returns are free to file and all our customers receive simple 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
When it comes to getting your refund fast, e-file and direct deposit are a winning combination. In fact, over 95 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.
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.
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.
