Not getting your tax refund as quickly as you would like? Check out the list below for four quick tips to help hurry the process along.
- Set a personal deadline to gather tax forms sooner: Speed up the process by getting those forms gathered up sooner. Make a personal deadline of March 1st to have your information submitted to your preparer. April 15th is the tax deadline for most taxpayers, but your preparer will need time to filter the information you provide to ensure your return is accurate.
- Make a checklist of this year’s documents: Make a checklist of what you submit this year to use for next year to ensure all documents are received and passed along to your preparer. Forgetting a form or misplacing a document could bring the process to a screeching halt faster than you would think, especially in business returns.
- Label and date transactions as they happen: Don’t get me wrong, tax accountants would much rather receive a well-documented ledger than getting a box full of old receipts. But if you don’t use a true accounting software, try entering your information on an excel spreadsheet. Labeling and dating your transactions just like they are on your paper ledger will get your tax return done even faster!
- Get your tax refund through direct deposit: The best and fastest way to get your refund is through direct deposit. Not only does this take no time at all to set up, but it is safe and secure. You don’t have to worry about your check getting lost in the mail. Even if you must file by paper (which I don’t recommend if you’re trying to go the fastest route), you can still request a direct deposit refund. Make sure to bring a voided check to your tax appointment and ask your tax preparer to set up this option for you. The IRS will send your refund straight to your bank to be deposited in your personal bank account.
If you aren’t having issues but are wondering where your refund is, don’t forget you can track its whereabouts! You will need your social security number or ITIN, your filing status, and your exact refund amount. Then, simply either download the IRS2Go app, search “Where’s My Refund” on the IRS website, or click this link https://www.irs.gov/refunds. Updates are made daily (usually overnight), but you can check as soon as 24 hours after e-filing or four weeks after mailing in your return.
Disclaimer – Descriptions provided in this article are presented as generalities. There are many factors not listed above which may impact your return. This article should not be considered legal or tax advice. For advice on a specific transaction, please contact the AgriSolutions Tax Department at firstname.lastname@example.org.