How to Get Your Tax Refund Faster
Hudson, NH Resident Looks for Tips
There are many disruptions that can slow down your tax refund, creating a significant delay in the time that it takes to receive your money from the IRS. Filing your tax return as son as possible will get you toward the front of the line as refunds are processed in the order that returns are received. E-filing will reduce the time that it takes the IRS to receive and process your tax return, eliminating delays caused by the mail.
A Hudson resident was anticipating a hefty refund from the IRS. Looking for tips to get this refund as quickly as possible, he contacted the experts at Merrimack Tax Associates.
Ensure that Your Tax Return is Complete and Error-Free
One of the biggest delays in getting your tax refund is submitting a return that is erroneous or has incomplete information. This includes calculations that are incorrect and missing paperwork. Filers with tax returns that have errors or missing information will be notified by the IRS, requesting a revised return or additional information. This will slow down the processing as the IRS waits for these corrections and then you are added back into the queue. If the information in your tax return is incorrect, then regardless of when and whether you e-file your refund will have a significant delay.
Rolling Your Refund into Estimated Tax Payments for the Following Year
If you pay estimated tax payments each quarter, you can roll any refund coming your way directly into the first quarter’s estimated tax payments. Doing this will mean that you can immediately put your refund to good use, without having to wait on the IRS to issue the money. You can then use money set aside for this quarterly tax payment as your refund.
The Hudson resident opted to have Merrimack Tax Associates assist with his filing. This way he can be sure the information is complete and error-free. The team at Merrimack Tax Associates was also able to e-file to give him the biggest chance of getting his refund quickly.