Every year at tax time, millions of people across the country are worried about not only getting their tax returns filed as quickly as possible, but also making sure they're going to receive their refunds in a timely manner. However, there are ways in which taxpayers might be able to increase their chances for a faster turnaround on the latter.
Of course, it stands to reason that the best way consumers can get their tax returns more quickly is to simply file as early as possible, according to a report from the Huffington Post. The sooner all tax preparation is done, the more quickly it can be submitted - preferably via the internet for those hoping for the fastest possible receipt of their refunds - starting on Jan. 31. In addition, the money will be sent faster if the taxpayer elects to have it put into their accounts via direct deposit.
However, it's important to note that this is only going to result on a faster refund if all the information listed on the tax filing documents is 100 percent correct, the report said. If any issues were to arise as a result of faulty math or other information written or typed into a tax form, that could significantly delay the return being sent, or could spark even bigger problems.
What else should taxpayers keep in mind?
Another kind of information that people might get wrong somewhat regularly, surprisingly, is personal data, the report said. When filling out forms, especially online, it can be easy to mistype a family member's name or, more often, Social Security number, and as such, that can delay the return process as well. Essentially, the best possible idea is to fill out tax forms and then go over them carefully to make sure everything is being submitted correctly.
One of the best ways to ensure this is the case is to work with a licensed tax professional for not only the actual filing of documents, but also the preparation as well. This may also help consumers to discover any deductions for which they might be eligible that they simply did not know about, or wouldn't have if they'd filed on their own.
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