T o avoid mistakes, c arefully review your tax return before you click submit. It’s also possible your return contains calculation errors. įirst, your tax return may have included errors, such as misspelled names, incorrect S ocial S ecurity numbers, unsigned forms, or incorrect bank account information. They can also advise you on making the best decisions for your particular situation – and find every tax write-off you qualify for. While going to a professional won’t guarantee a faster tax refund (and costs money that reduces the impact of your refund), an expert in the field is less likely to make errors that can hold up your money. If you are unsure how to file your taxes, consider paying for a tax professional. This includes your W-2(s), 1099s, mortgage and student loan documents, and anything related to your retirement and investment accounts. Make sure you have the rest of your vital tax documents ready for when you file your return. And don’t forget: Filing your taxes late will delay your return and result in late fees. The process can take longer if you are missing a Form W-2 (or Form 1099 if you’re an independent contractor ). If you don’t receive them by January 31, reach out to your employer or client(s) and ask them to send these forms to you. File your completed tax return as soon as possibl eĪt the beginning of January, look out for any forms you expect to receive and will need for your return. While there isn’t any way to guarantee exactly when your tax refund will arrive, there are a few ways to try to speed up the process. This marks a return to a normal tax schedule after several years of extended deadlines due to the COVID-19 pandemic. The IRS will likely start accepting income tax returns on Janu, though potential end-of-2022 tax legislation can alter this day. What credits you claim: When you claim certain tax credits, like the Child Tax Credit or the Estimated Income Tax Credit, expect a delay of up to a month while the IRS confirms your eligibility. Note that it may take a couple of days for the IRS to receive your return, even when you e-file. How you file: Filing electronically can get you your return in roughly three weeks (two with direct deposit).If you file closer to the deadline, the IRS may be dealing with a more considerable backlog of returns to sort through. When you file: Filing earlier in the year may yield quicker results.How soon you’re likely to receive your refund is determined in part by the IRS schedule. Here are eight tax deductions you might not have thought of. Not too fast: Filing your taxes as early as possible certainly gets you your refund faster, but make sure you take advantage of all the tax write-offs you’re eligible for. Again, direct deposit is the fastest and safest way to get your tax refund, and the IRS recommends this method to taxpayers across the board. When choosing your delivery option, remember that it will affect how quickly you receive your money. This way, you will know that the money is there the second you receive it. Once your refund is available, Chime will send you a text alert and email. You then input your Chime Checking Account number and corresponding routing number, and that’s it!įrom there, you just have to wait for your refund to show up in your account. If you’re a Chime member, you can choose “direct deposit” on your tax return software.
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