Why Does It Take So Long To Get Your Tax Refund?
It is never too early to talk taxes! After all, the Internal Revenue Service (IRS) works all year. According to the United States Census Bureau, the United States has approximately 321,859,950 citizens and that number is increasing. Granted, a great percentage of this number involves people who aren’t even old enough to pay taxes. However, this number should give one a general idea of why it usually takes a long period of time to receive a refund.
The Filing Process
Take a moment and think about the time it takes to file taxes. For even the most prepared individual, it can be a grueling process. That is why most people hire someone to take care of it for them. Even then, there’s no completely escaping the responsibilities of a taxpayer. For, one must supply the proper documents in order to file. As it can often take anywhere from a day to maybe even a week to file taxes, when the IRS receives the filing, they must verify that the filing is indeed correct. So in fact, it is almost like your tax filing is being process twice: once by you and then by the IRS!
Unlike the individual taxpayer, the IRS receives millions of submissions that they must verify. That is one of the reasons why tax filings take so long. Other reasons can be due to misinformation and how you file.
Ways to Expedite Your Tax Refund
Any misinformation or input that the IRS believes is questionable in your tax filing can delay the verification process. It is also recommended to file your taxes as soon as you receive your W2s, 1099 and other important tax related document. The sooner you file, the better chances you have to receive your tax refund at an early date. Another determining factor on whether or not you might get your refund early is if you choose to file electronically and if you have a bank account.
The Benefits of Electronic Filing
Filing your taxes electronically expedites the filing and verification process. The IRS also gives tax filers the option to receive their refund by check that will be mailed—a process that can take 3-4 months, or by having it electronically deposited into your back account—a transaction that can occur in 5-7 business days. It should be noted that these delivery times apply to after the filing has been verified and approved by the IRS.
Plan Accordingly. Get Help!
Another way to speed up the refund is to prepare yourself for the tax season. Many people wait until the last minute to gather critical documents they never realized they needed. These documents are just as important as they may be helpful in helping you get the biggest refund possible. In fact, many taxpayers may not realize that they are entitled to certain credits. Hiring a tax relief consultant can alleviate the anxiety of any tax issues you may have once it’s time to file
Don’t Delay! Start Preparing Today!
If you don’t want to wait months to receive your refund, get started on preparing for the tax season now! Success Tax Relief has been working with taxpayers for more than 30 years. We specialize in communicating directly with the IRS on our client’s behalf. Get the process started by contacting us online or calling 1-877-825-1179.