How to Receive your Tax Return?
According to survey, eight out of 10 Americans are expected to get a tax refund. That means you are likely to get one. You may be able to get it as early as within 21 days. Here are the simplest and fastest ways to receive the tax return.
American has evolved into an e-country. Almost everything can be done electronically nowadays. Bills payments are usually done electronically, so is shopping. For the government and for an individual, processing matters electronically is the easiest way to settle something. For one, you don’t need to use up a lot of papers. Papers can be burned, they can get wet and they can be torn. Yes, electronic data can be deleted and can be affected by a virus, but the theory is that the longer a thing exists, the greater the possibility that bad things will happen to it. With that in mind, papers are expected to be with you for a longer period of time compared with digital data. As soon as you are done filling out the appropriate data in your tax return, you can immediately send it to the Internal Revenue Service (IRS) website. In the case of physical documents, if you are done filling out forms, you have to wait until office hours to mail it.
If you file electronically, refunds can be expected within 21 days. In the case of hard documents, the IRS believes it would take at least four weeks for the data in these papers to make it into the system. Remember that the data from these documents need to be input in the computer. That is another layer in the procedural system that you can do without. So if you are part of the six percent of Americans who don’t have access to the internet, it’s about time you get access. The world has become technology dependent and everybody has to go with the flow or they will be left behind.
When you file your tax return, you will be asked on how you want to receive your refund. Request for the refund to be directly deposited to your bank account. Most people choose to receive their refund by check. But checks are sent to you through snail mail and, as the name suggests, it will take time. Not only that, there is a possibility of mail-related delays. The worst part is for the check to get lost in the process. There is no doubt that you will get a refund through mail, but if your check will get lost, the process becomes longer. Then you have to report that you never received your check and the IRS has to verify it and so on and so forth.
Receiving a check provides a more psychological security for people because they see actual numbers. When it comes to bank deposits, it can be merged with your current money—whether savings or payroll—and you don’t feel its weight. But it’s more practical and even safer, not to mention faster—which is actually the most important matter at hand.
Registered or certified mail
It was already mentioned that e-filing of tax returns will merit the fastest tax refund. But some people prefer simpler times and just want to file paper documents. So just heed this rule: make sure the mail is registered. There is a travel time, and this is another disadvantage to filing hard copies of your tax returns. And the IRS will only consider your tax return to have been filed on time if it arrived on time. So make sure you mail your documents a few days before deadline. Then let’s go back to one important matter: don’t forget to send via register mail. The thing is, even if you have sent your mail through first class service and it arrives on time but got lost somewhere in the processing, you wouldn’t have a proof that you sent it in the first place. So always register your mail—bet it for tax refund purposes or not. Sending via certified or registered mail may cost a few dollars more—few being the operative word. But the more important thing is that there is proof that you were doing your federal duty to Uncle Sam.
Here’s another thing you need to consider when you are filing through registered or certified mail: make sure the addresses are all correctly written. Check the appropriate addresses from the IRS page. Depending on where you live, there are specific IRS addresses for those who are requesting a refund but have not enclosed a check or money order, and those who have enclosed a check or money order. Taxpayers should bear in mind that their return is only considered timely filed if it’s mailed to the right place and at the right time. Make sure to double check those addresses.”
If you want to use private delivery services, the IRS has accredited some companies. And your return will only be considered as timely filed if these services are used:
· DHL Express 12:00
· DHL Express Worldwide
· DHL Express Envelope
· DHL Import Express 10:30
· DHL Import Express 12:00
· DHL Import Express Worldwide
· FedEx First Overnight
· FedEx Priority Overnight
· FedEx Standard Overnight
· FedEx 2 Day
· FedEx International Flight Out
· FedEx International Priority
· FedEx International First
· FedEx International Economy
· UPS Next Day Air Early AM
· UPS Next Day Air
· UPS Next Day Air Saver
· UPS 2nd Day Air
· UPS 2nd Day Air A.M.
· UPS Worldwide Express Plus
· UPS Worldwide Express
The simplest way to receiving your tax return as fast as possible is by avoiding mistakes. Double or triple check your tax return documents before sending them (electronically), and do the same with your hard copy and include the envelope in your due diligence. Here are some of the most common errors in filing tax returns.
1. Missing Social Security numbers. There are nine digits in a Social Security number. Make sure you write them one by one and compare them with the number you have in your Social Security card and those of others—in case you are filing a joint return or listing down dependents. In most cases, the individual concerned has memorized the Social Security number since this is part of one’s identification. But even if you have this on lock down, your typing hands may not match what you have in your mind. Double or triple checking will not take long. Ask somebody else in the family to review the numbers to be certain. Chances are, though, you have not memorized your dependents’ Social Security number so always copy what’s in the card.
2. Wrong names. Sounds impossible, right? How could anyone misspell their own name or that of their spouse or dependent? Perhaps you didn’t, but the Social Security Administration (SSA) might have. Always write down in your tax return the name as it appears on the Social Security card. The card could have been wrong—the government makes mistakes, too. But if you correct what’s in the card, chances are, your government record will not match with your tax return. So let the mistake go for now. You can always have it corrected with the SSA later.
3. Wrong status. There are five filing statuses in the tax return: single, married filing jointly, married filing separately, head of household, and qualifying widow / widower with dependent child. So make sure you know your correct status before you start on your tax return. There are different qualifications and tax deductions and credits for each status.
4. Calculation mistakes. Math is not easy to go by, so math mistakes are very common when filing tax returns. This is why due diligence is needed when filing. This is really just a matter of going through the papers and carefully adding the numbers. It is always safe to have a professional that can help you with numbers, especially if you are not very attuned to mathematical equations. This is also why electronic filing is easier because there are already so many different apps that can help you compute your tax return. This way, you will not commit a mistake.
5. Incorrect bank account numbers. Remember, the purpose of these tips is for you to get your tax refund the fastest possible way. So if you requested the IRS to directly deposit your refund to your bank account, make sure you gave them the correct bank account number.
6. Health care reporting errors. Since the Affordable Health Care Act is new, it is expected that a lot of errors are related to health care reporting. Seek professional help if you haven’t figured out how to properly report this part.
As with life, things have to be done properly if we want a positive outcome. So handle your tax return with care. Make sure everything is in order. You can use this article as your very own checklist to receive your tax return the fastest way possible.