Millions of Americans have started filing their tax returns and waiting on their refunds from the IRS.
The average tax refund this year is $2,323, according to data released by the IRS.
There are a few things that can be done on your part to ensure you get your tax refund faster.
How to make sure you get your tax refund as fast as possible from the IRS
The best way to see money quicker is by choosing to receive your refund by direct deposit.
The IRS will put the money directly into your bank account.
In usually takes about 7-10 days for the IRS to process a direct deposit request.
This is much quicker and eliminates the possibility of a paper check being lost in the mail.
Paper checks cost the recipient $1.00 and direct deposits are $0.10.
When you file you’ll select the option to receive your refund through direct deposit.
You need to provide your bank account and routing information.
If a tax preparer is doing your taxes for you, you can give them the information.
How else can I get my refund quickly from the IRS?
Filing electronically will result in you getting your refund the fastest.
Mailing a paper refund could take weeks longer, and the IRS is already facing a backlog of paper returns from 2020.
It’s important to make sure all information you report is accurate, or it will delay your processing.
This is especially important if you’re claiming missed stimulus payments or the rest of your child tax credit.
Be sure to hold onto any letters the IRS sent you with this information.
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