Fastest Way to Get Tax Refund: Every Citizen of USA should file IRS Tax Return on annual basis. For the year 2019, the last date to submit the tax return is April 15, 2019. The internal revenue service, U.S. Treasury Department reviews all tax returns and then issues tax refund towards eligible taxpayers. Most people file tax return every year and wait for their tax refund for many days. The tax refund is initiated by IRS, U.S. Treasury as per their rules and regulations.
If you are searching for the fastest way to get tax refund, here we are to guide you about that. The U.S. Treasury releases tax refund after the tax return is checked and approved. In case your IRS tax return gets rejected because of some reasons, the refund will not be issued. In such circumstances, you need to file an improved tax return and then your refund will be issued after it is approved.
What is Tax Refund?
The taxpayers pay the IRS Tax on quarterly, half-yearly and annual basis. Every year, the taxpayers (individual or organization) have to file tax return before the mid of April month. After submission of tax return, the Internal Revenue Service checks the return and approves it. Thereafter, the excess amount paid by the taxpayer is refunded to him/her. This amount is known as tax refund.
How to Apply for Tax Refund
Tax Refund is the difference between the tax you have paid and the actual tax payable. The U.S. Treasury returns the excess amount as tax refund and send it to the taxpayer’s account. As a responsible citizen of USA, you should file your IRS Tax Return on regular basis. But you don’t need to apply for tax refund. You will get the option to fill your preferences to receive tax refund at the time of filing your tax return.
When you file or e-file your Tax Return, you should provide your choice about how you would like to receive your tax refund. The U.S. Treasury will check and review your IRS Tax Return. Once your return is approved, your tax refund will be initiated. You will automatically receive your tax refund with in a few days of its release from U.S. Treasury.
Fastest Way to Get Tax Refund
You don’t need to apply for tax refund as it comes back to you as per rules. The way you receive the tax refund is based on the preferences you have filled up while filing your IRS tax return. In case you have chosen to get your tax refund via check, the U.S. Treasury will send a paper check of your tax refund amount. Now the time period for reaching the refund check to your address is based on the US Post Office Service in your area.
Tax Refund Money can be as low as $100 and it can also be as high as $10,000 or more. You may have some plans to make savings from refund money, but the tax refund is in transit. Sometimes the U.S. Treasury releases your tax refund and you don’t receive it for many days. The tax refund can be delayed because of various reasons.
In order to get your tax refund faster than ever, you need to take care of various things. Here we provide such important points you should consider to get your tax refund by the fastest way.
- File Your Tax Return As Soon As Possible.
- File Your Tax Return Online and Not Mail.
- Prefer to Receive Tax Refund through Direct Deposit.
- Keep Checking Your Tax Refund Status Online.
01. File Your Tax Return As Soon As Possible
As per US Government Rules, the deadline to file or e-file IRS Tax Return is Mid of April month (April 15, 2019). Most people file their tax return in March and April. We recommend you to file your tax return earlier than others. It will help you get your tax refund faster than ever.
For example: If you e-file your IRS Tax Return in first week of February 2019, you will get your tax refund amount by last week of February 2019.
02. Always File Your Tax Return Online
Most taxpayers choose to file their IRS Tax Return online via IRS Free File. The Internal Revenue Service Website allows every citizen of USA to file their tax return online at free of cost. So you should take full advantage of e-filing of tax return and submit it as early as possible.
When you file your tax return via paper mode, you have to mail it to IRS Address. Your tax return goes there via post office and it takes many days. Thereafter, the U.S. Treasury will take time to review and approve your tax return. As a result, your tax refund will be postponed due to such long procedure.
If you file your tax return online, the U.S. Treasury will receive it on the same day of submission. Thereafter, your online tax return will go through assessment by U.S. Treasury Department Experts. After successful assessment, your tax return will be approved or rejected. If your tax return is approved then your tax refund will be initiated.
After submission of tax return online, you can expect your tax refund in or after 21 days. According to US Government Survey, nine out of ten taxpayers receive their tax refund in less than 21 days.
03. Prefer to Receive Tax Refund through Direct Deposit
When you file your tax return online, you need to give preferences for receiving your tax refund. Here you should select to receive the tax refund via direct deposit method. In that method, you can add your bank accounts (up to three account) with help of routing number and your account number. The tax refund money will be faster with direct deposit option. If you choose “check” option, it will be sent via post and you have to wait for many days until the post office delivers the check at your place.
04. Keep Checking Your Tax Refund Status Online
After 24 hours of submission of Online Tax Return, you can check your refund status on IRS Website. In order to check your Tax Refund Status Online, you need to provide your Social Security Number, Filing Status and Refund Amount.