Author: Jonas Akula
Where is my federal tax refund? Here is one question that people ask after filing their tax returns. If you want to get your refund faster than others, you must do certain things. Unfortunately, not many people know of the things they need to do to fasttrack the whole thing.
In 2020, the tax credit that an individual did receive was around $2707. Now, that’s a lot of money.
A tax refund can come in handy to take care of some unforeseen expenses, or you can keep it in your savings account to ensure that it keeps growing. Some people would love to use the tax refund to go on a vacation or buy something that they desired to purchase for a long time.
Since you understand what a tax refund can do to you, here are some simple tips you can follow to get it quickly:
File Your Tax Early
Yes, this is the best thing you should do if you want to get your refund quickly. Many people procrastinate filing their tax returns. Sometimes, it is because they do not like the complexity of doing this task all by themselves.
Suppose you are one person who hates doing tax returns, no worries. Plan to use a professional tax preparer to assist you with this task. They can do this task for you so that you can relax.
Now that there is an extension in the tax deadline make the best use of it to file your taxes early or file in an extension if you need some time to go through your documents.
File Your Returns Electronically
It is wise to submit your tax returns electronically if you are eligible to do so. If not, plan to use a tax preparer with vast experience to file tax returns electronically. If you send tax return forms in the mail, it might take almost six to eight weeks to process once they receive the documents. But, when you choose to submit your tax returns electronically, you will cut down a lot of time.
Choose Direct Deposit Option
These days, many people are using the direct deposit option to get a refund to their account. Especially if you are looking at getting a COVID19 stimulus check, you can choose this option. If you select any of the other available options, you might end up waiting a little longer for the refund to arrive.
Check the Status
The best part about filing your tax returns online is to check the refund status within 24 hours post submitting the tax return. You will get your refund in 21 days after submitting the tax returns.
If you are having trouble tracking your refund, you might want to call the customer care number of the IRS if necessary.
You will not worry about the answer to the golden question, ‘Where is my federal tax refund?’ if you follow the tips outlined in this article to get your tax refund quickly. Talk to a professional tax preparer if you need assistance.