WITH the 2022 tax season in full swing, a tax expert shared two tips on how to get your stimulus check and IRS refund faster.
Millions of taxpayers have begun filing their 2021 federal tax returnsand many immediately wondered when they would receive their refund.
As the IRS continues to deal with historical backlogs due to Covid pandemic, treasure Expert Karen Tjapkes, Director of Legal Aid Western, shared two tips that would help taxpayers get their reimbursement faster.
First, all taxpayers must file their tax returns correctly, including theirs stimulus checkwhich will help them to be treated quickly without any problems.
Files must also submit their correct tax documents, including their W-2 form, 1099s, and other related paperwork.
According to Tjapkes, the second way to quickly receive your refunds is by filing as soon as possible.
The expert recommends that taxpayers submit the tax return online and pay the amount via direct deposit, which ensures faster results.
The IRS states that a person submits a return correctly and pays the amounts via direct deposit will be refunded within 21 days.
There are, however several reasons that may delay your repayment.
1. Incomplete tax return
The first reason – and the most common – is that people tend to submit incomplete or inaccurate information on their tax returns.
Many people wait until the last minute to pay their taxes and they have to hurry through the process.
This generally results in inaccurate bank or address information and incomplete forms.
Also, some people forget that they moved or switched bank and they do not put the updated information on their tax returns.
Therefore, it is important to take good time when you make your tax so that you can get your refund as soon as possible.
2. You claimed certain tax deductions
This delay is a result of PATH law that strikes at scammers.
Because of this, the IRS cannot issue both child tax deductions and income tax deductions to eligible applicants until February 15th.
The issue date of March 1 may apply to you as long as you submit your return online, you choose direct deposit, and the IRS found no issues with your return.
3. You filed a tax return on paper
Another reason that can cause a delay in your repayment is filing a tax return on paper.
Paper tax returns are known to take longer because it has to go with the mail.
If you submit a paper return, you can expect to wait between six and eight weeks to get your money back.
However, there are also various issues that can happen by sending it through this method.
For example, if you accidentally write down the wrong address, your return will be sent back to you, delaying your refund even more.
4. Delay in treatment
Finally, the last reason is that the IRS is lagging behind.
As of December 31, 2021, before this tax season even began, the IRS still had about six million unprocessed individual tax returns.
This number does not even include the millions of changed returns they have not yet processed.
The agency is also inadequately staffed, which can cause further delays.
If you do not want your refund to be delayed, review eight common mistakes you should avoid when preparing your tax return.
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