Are you anticipating your refund? We all like a little cash back in our pockets, as more money leaves than comes in. Waiting for your tax refund can be excruciating when you desperately need the cash. At tax time, put your money back in your pocket quicker using these tips:
File As Soon As Possible
The earlier you file your tax return, the earlier you’ll get your refund. Waiting til the last minute can cause delays, extra stress, and unnecessary headaches of trying to meet the deadline. All Form W-2s and 1099s should be sent by January 31st, meaning once you have all your required documents, you can file. Avoid the rush and file early.
Not only is electronic filing easier, it also speeds up the refund process. When you file a paper return, it takes the IRS up to six weeks to send your refund back to you, but taxpayers who e-file can expect a refund within just three weeks.
Direct Deposit is Best
If you can, consider having your refund directly deposited into your bank account. You won’t have to wait for the mail, or stand in line at a bank, or wait for the refund check to clear. Instead, you’ll have access to your money a lot quicker than getting a paper check.