Tips from the IRS to get your tax refund faster
(NEXSTAR) – It’s almost that time of year again, when we keep our fingers crossed and hope to get some money back after filing our taxes – and for those who owe money, the IRS has a few advice on prompt refunds.
The majority of Americans already use direct deposit to get their refunds, but if not, the IRS calls it the “the best and fastest way to get your tax refund.”
If you are using tax software, simply select direct deposit as the reimbursement method and enter your bank account and routing numbers. If you’re not sure where to find this information, you can look at a paper check, which will have your routing number on the bottom left and your account number on the bottom right. You can also check your account information online or call the bank for assistance.
If you have a prepaid debit card, you may be able to send the money directly to them, but you’ll need to check with the financial institution to make sure you have the correct routing and account information.
For taxpayers who do not have a bank account, the IRS encourages people to visit the FDIC website, Veterans Benefits Banking Program or the National Administration of Credit Unions for help opening an online account.
To make the refund process even faster, file your taxes electronically and select direct deposit for the refund. The IRS says nine out of 10 refunds are issued in less than 21 days when the entire process is done electronically.
This can be vital this year as it is still unclear how the explosion in COVID-19 cases caused by the omicron variant will affect IRS employees tasked with processing returns.
The IRS also notes that filing a complete and accurate return will help streamline the process. Taxpayers are encouraged to check IRS.gov for the latest questions about child tax credit prepayments, claiming a recovery rebate credit for missing stimulus money, and other issues.
Can’t wait to see that bigger number on your account? You can always check the progress of the refund using the IRS where is my refund tool.
Tax season starts two weeks earlier
This year’s tax filing season will begin Jan. 24, 17 days earlier than last year, the Internal Revenue Service said Monday.
The IRS is warning that a resurgence in COVID-19 infections in addition to lower congressional funding authorization than requested by the Biden administration could make this filing season particularly challenging.
“The pandemic continues to create challenges, but the IRS is reminding people that there are important steps they can take to ensure their tax return and refunds don’t experience processing delays,” the IRS commissioner said. the IRS, Chuck Rettig.
Avoiding a paper tax return will be more important than ever this year to avoid processing delays, Rettig said. He urged taxpayers to file their returns electronically and get their refunds by direct deposit.
It is also important for taxpayers who received a COVID-19 relief economic impact payment last year or who received a child tax credit advance payment to ensure they are reporting the correct amount. on their tax returns to avoid processing delays, Rettig said.
The IRS will send letters to recipients of impact payments and child tax credit advance payments, and taxpayers can also check the amounts they received on the IRS.gov website.
The deadline for filing tax returns is Monday, April 18 this year, three days later than the normal April 15 deadline for filing taxes. The latest date is the result of an emancipation party in the District of Columbia. By law, in Washington, DC, holidays impact tax due dates for everyone the same as federal holidays.
April 18 is the deadline for filing tax returns or requesting an extension. which gives taxpayers until October 17 to file their returns for 2021.
The Associated Press contributed to this report.
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