How to Get Your Tax Refund As Soon As Possible This Year
If you are one of the unlucky taxpayers who are still waiting for their 2020 return, don’t expect this year to be any better. Multiple sources are reporting that the 2022 tax filing season will once again be full of major delays. The Treasury Department warned earlier this year that the IRS would face “enormous challenges,” largely due to a continued backlog of last year’s pending returns, among other issues.
However, there are certain steps you can take to minimize frustration in the face of an understaffed IRS running with huge backlogs, budget cuts, and other issues that are sure to cause setbacks. And given that the average tax return for tax year 2020 was $2,827 , you have good reason to want that amount as soon as possible. Here’s what you can do to try and get your tax refund within 21 days of applying.
The sooner, the better
Simply put, the IRS processing time will decrease as more and more people apply. Submit your returns as soon as possible to increase your chances of getting a refund before everything is fully confirmed.
File in electronic form
The IRS expressly recommends filing electronically , explaining that it is “faster, safer, and more accurate than mailing your tax return, as it is transmitted electronically to the IRS computer systems.” Filing electronically can get your tax refund back within 21 days; Paper returns can take six to eight weeks to process .
To file your tax return electronically, there are a number of free tools at your disposal, such as the Free File IRS program – the only requirement is that your adjusted gross income does not exceed $72,000. Here are some more ways to file your tax return online for free .
File exactly
Any inconsistencies between what you manually file and what is on the IRS file will be flagged for review, resulting in weeks or even months of delay. Check and recheck your forms carefully to avoid major setbacks due to inaccurate information.
The IRS has the following tips for filing a complete and accurate 2021 tax return :
Gather all necessary records, such as W-2 forms, 1099 forms, receipts, voided checks, and other documents showing income, deduction, or credit on your tax return.
Develop a system that will store all important information, including electronic record software or a paper filing cabinet in labeled folders. Having all the records at hand makes it easier to prepare your tax return.
Prepare all income documents at the end of the year. Taxpayers should wait to receive all 2021 tax information before applying to avoid processing delays that could slow down tax refunds.
Accordingly, be sure to save each letter from the IRS about stimulus checks (including information about child tax credit payments ). All amounts you file must match the IRS records so that your taxes are not flagged and therefore held back for review.
Use direct deposit
In addition to filing electronically, the IRS strongly encourages you to choose to receive your refund through direct deposit. If you prefer a physical check, don’t be surprised if there are delays in the US Postal Service.
Sit back and watch
Keeping track of the status of your refund won’t speed it up, but it can at least give you some peace of mind while you wait. The day after you submit the electronic file, you can start checking the IRS report “ Where is my refund? “. to keep track of the current status of your refund and the time the IRS ships your refund. If you mailed in your return, you will have to wait four weeks to use this site.
Again, the main thing to do to get your 2021 tax refund is to do everything online this year. If you’re having trouble giving up paper mail, consider supporting USPS in other ways. Send your mom a postcard or send a handwritten letter to a friend—perhaps about how you hope to get your tax refund as soon as possible.