On the other hand, there are certain things that will slow down the process. So, while we urge you to file sooner, make sure you don’t make any of the following mistakes so that you’ll get your refund faster.
If your form includes errors, the IRS will undoubtedly take longer to return your money. The same goes if your form is incomplete- something that happens when filers rush, so even if you ARE in a rush, by focusing, you can avoid doing this.
If your return includes form 8379, known as the Injured Spouse Allocation, this could also take 14 weeks to process. Lastly, if yours is also affected by theft or fraud, that will also raise red flags, making it more difficult for you to get your tax refund.
But barring all of that, if the IRS simply needs more information in general or if your return needs to go under further review, it’ll also take a little bit longer.
By the way, did you know that the average refund is for $2,870? This is 2% higher than the average of last year! Since April 23rd, 2021, the IRS has issued over 77 million tax returns (for the 2020 tax year). Furthermore, 92% of those were paid by direct deposit. So if you were skeptical about going this route, you should now know that it’s not just popular, but entirely safe!
We might be living in the land of the free, but not everything is legal.…
People are prone to make mistakes sooner or later in their lives, that’s just the…
Many Americans struggle with financial hardships, from exorbitant healthcare costs to taxes, college tuition and…
When it comes to setting money aside there are many strategies out there, some that…
Nobody is born a chef, we know that. But a lot of people seem to…
Are you planning your next trip? Thinking about retiring in a quiet and safe place?…