| 2023/01/25 at 1:30 pm |
If you want your tax refund to arrive quickly, there are some tax mistakes you should not make on your tax return.
In 2022 and according to official figures, the average refund received by Americans was around $3,000 dollars per taxpayer. However, the money did not find its way into people’s pockets soon as the IRS faced various challenges, which has led to delays in processing tax returns. In addition to the external, there are some tax traps that can delay your return, in Globe Live Media we are going to tell you more.
The 2022 tax season began on January 23, 2023, and as of this date, the Internal Revenue Service has a backlog of 10 million unprocessed tax returns, which means that refunds have not arrived, and this is due to in the midst of a situation in which the country faces high inflation.
If what you want is to receive your tax refund as soon as possible, we are going to tell you what tax traps could take the process longer.
1.- Do not present your return on paper
One of the worst enemies of tax refunds are paper tax returns. The reason is that all the data that you write there must be processed manually, which already makes the process even longer. It is best to file your tax return electronically.
2.- Choose a paper check for tax refund
If you request a paper check, your tax refund may be delayed, since the fact that the money is sent to you by postal service, in itself, makes the process much slower. It is best if direct deposit is selected, so that it arrives much faster.
3.- Do not change your numbers
Don’t estimate your income or other important numbers when you file your tax return. In order not to have any problems with the Internal Revenue Service, you must be completely accurate. If your tax return does not match the data that comes to the IRS, they will flag it for a much more thorough review.
4.- Review your personal information
They are very typical and simple errors, such as a typo, or a misspelled address or a name that is incorrect. This would lead to the IRS flagging your tax return and holding it until you make the proper corrections.
5.- Gather all the necessary documentation
Filing early doesn’t mean it’s the right way. The reality is that the right time is to do it when you have all the necessary documentation for your tax return, this includes supporting documents and forms.