When you are applying for a tax refund, there are several steps that you can take so that you can get the refund early. And how fast you get the refund usually depends on the option that you choose while filing the tax refund. If you are filing your tax return for the first time note that a paper return takes much longer as compared to an electronic return. So, how fast you get your refund back usually depends on the option that you choose while filing for your tax refund. Here are some tips to help you get your refund as early as possible:
File It As Soon As Possible: The first tip is to file for your tax return as soon as possible, as the sooner you apply the earlier you will get the refund. Another reason why you should file for your tax refund as soon as possible is to lower the rate of theft. If someone ends up stealing your identity and files the tax refund, you will have to wait for additional time to sort things out. So, to avoid all these issues, filing for a tax refund as soon as possible is advised.
Avoid Filing A Paper Tax Return: If you are thinking of filing a paper tax return, you should scratch that thought. It is best to avoid this fling method as it can end up taking up to six to eight weeks to process. Instead, you should consider filing for the tax electronically, as it will take only about three weeks to get your refund back. E-filing is also one of the safest ways as everything is encrypted and it will also save your time. You do not have to spend hours on your phone to complete to file the tax return.
File Your Taxes Online: If you are going to file your tax return by yourself, you can file it only while making use of the online tax preparation services that are available online. Some of these online tax preparation services offer meetings with a professional face-to-face if you are willing to. You can use their online services, or meet with a tax preparer in person and they’ll review, prepare, and file your return. If you are filing for the tax return online, make sure that you are using a reliable website.
Sign Up For Direct Deposit: Instead of waiting for a fund, you should opt for a direct deposit. This will speed up the refund process as the amount will go directly to your bank account. If you opt for this method, you can also split up the refund into three different accounts, and for this, you need to use the form 8888 allocation of refund, then provide the three accounts and the routing number. Make sure that you do not make any mistakes while providing the account and the routing number.
Once You Have Filed Your Taxes, Keep Track of Your Refund: Once you have completed filing for your tax refund, you can keep track of it. If you have followed one of the above-stated methods and you’re wondering when you will get your refund, you can track its whereabouts with the IRS from the Where’s My Refund portal. Tracking will not speed up the process, but it will give you an idea of when you can expect to get your tax refund. If you have e-filed your tax return, once the IRS accepts it, you can start trekking it. Whichever method you have used to file the tax, you can begin tracking once the IRS accepts your tax refund form.
These are some tax refund filing tips to help you get your refund as soon as possible. Note that, how fast you get your refund back will usually depend on the filing process that you choose. So, if you want to get your refund as soon as possible, ditch filing on paper and choose one of the above-stated methods.