The IRS typically advises that most taxpayers can anticipate having their refund within 21 days after filing their tax return. This time could be cut down to two weeks if a few slight changes were made in how the returns are filed. According to CPA Practice Advisor, which provides information to tax professionals, a refund calendar has been developed based on the IRS's average refund times from the last twenty years.
Isaac M. O'Bannon, managing editor at CPA Practice Advisor,
told Yahoo Finance the fastest way to get your refund is by filing
electronically. "You could be adding several weeks onto the processing
time for your tax return if you're filing on paper," he said. If you use
one of the well-known online filing services or hire a professional tax
preparer, they'll e-file for you.
To Avoid Delay Use E-File And Select Direct Deposit
The return
via paper and check requests also normally take more time compared to their
electronic counterparts. You are free to have your refund direct deposit in a
bank account or through a prepaid debit card, and even mobile apps-just have
the correct routing and account information.
Step Away From Imperfect Retuurns
Before you start filing your tax return, whether online or with the help of a tax professional, make sure you have all your personal information and tax documents at hand. Incomplete returns or returns with errors may be given closer scrutiny, which will delay your refund.
You will need to collect any and all records of your income, such as W-2 forms and 1099s for unemployment benefits, dividends, pensions, annuities, or distributions from retirement plans.
If you secured health coverage through the marketplace, you may also require Form 1095. Please see a more complete preparation guide from H&R Block's tax checklist.
Don't
forget to gather personal data for you, your spouse, and dependents, including
dates of birth and Social Security numbers or taxpayer identification numbers.
If applicable, have this year's Identity
Protection Personal Identification Number handy, if the IRS issued one to
you.
If you
can't afford to hire a tax professional but still need help with your tax
filing, check out IRS
free file options or the Volunteer Income Tax Assistance (VITA)
program. VITA offers free tax preparation for moderate- to low-income, senior,
disabled, or limited English proficiency individuals.
Careful From Tax Fraud
More sophisticated tax scams result from the advancement of technology.
These include impersonating the IRS by claiming there are
unclaimed refunds, mailing of fraudulent W-2 forms, "ghost"
tax preparers, and scammers acting as charitable organizations.
The IRS does not initiate contact with
taxpayers by email, text message, or social media to request personal
or financial information.