The US tax season of 2023 has already kicked in on January 23. This year, taxpayers are getting 3 additional days to file their tax return since the tax deadline is April 18 instead of April 15, which is the standard deadline, as it falls on Saturday and April 17 is Emancipation Day, which is a holiday in Washington, DC. But don’t wait until the last minute to file your tax return. A good reason to file your taxes as soon as possible is that you don’t have to wait until the deadline to get your tax refund.
Continue reading to find out the easiest way to receive your tax refund earlier.
Last year, scores of Americans received good fortune with the tax refund due to the availability of pandemic- related benefits. But this year IRS has stated that the amount will be smaller compared to the previous year’s tax refund estimates as all those benefits have come to an end. IRS has taken some additional steps to improve its services to support the taxpayers such as increasing in-person staff and hiring more than 5,000 new telephone assistors to provide them with better experiences.
IRS states that the fastest way to receive your 2023 tax refund is to e-file and select direct deposit. They assure that this method is safe and secure as it uses the same electronic transfer system used for depositing the benefits of all Social Security and Veterans Affairs. So, there isn’t the least possibility of it going stolen, uncashed, or destroyed.
Let’s look at what happens when you e-file your tax return
- When you e-file your tax return the average time that would take for the IRS to accept your tax return is 24 to 48 hours. While in the case of mailing, there would be a delay of a few weeks to accept your tax return as the IRS need to enter all the details in their computer system manually.
- IRS will send you a notification about the actual date they accepted your tax return when you e-file and that shows you are included in the IRS refund timetable.
- Once your e-file return is accepted, mostly, it would take less than 21 days for IRS to issue refunds.
How to set up Direct Deposit?
- When using tax software, choose Direct Deposit as your refund method.
- Enter your routing number and bank account number correctly.
- You can find your account and routing number on your bank’s website when you sign in or else you can call your branch.
- You can add your bank account information even if you are not getting a refund.
Saves the government money & paper
Split refund into 3
Track the tax refund status
& identify delays
How can we check the status of your tax refund?
Irrespective of whether you choose to receive a paper check or Direct Deposit, you can track your IRS tax refund status 2023 through any of the following ways.
- Use the online IRS tool Where’s my refund on IRS.gov.
- Download the IRS2Go mobile app.
- Call the IRS at 800-829-1954
The taxpayers can check the status of their refund on Where’s My Refund within 24 hours after the IRS has received your e-filed return. This on the other hand will take 4 weeks if you mail your paper return.
Where’s My Refund shows the status mainly through three stages.
- Return Received,
- Refund Approved, and
- Refund Sent.
Whether you’re an experienced taxpayer or a first-time filer it’s important to file your tax refund in the safest and most convenient option available ensuring all the requirements are met to receive the approval of the IRS. So, businesses need to choose the right firm which has profound knowledge and experience in tax-related matters.
Buchprufer Consultants to Assist!
Buchprufer is a renowned organization that has decades of experience in providing a wide variety of tax-related services. You can trust us to file your tax return accurately and in compliance with the law.
If you aren’t well-informed about tax-related matters and fail to record your documents systematically, the whole process of tax return and refund becomes stressful to you. Ours is a team who do not compromise on filing tax return meticulously and our eyes are constantly on providing maximum tax refund to our clients.
Contact us at the earliest to stay up to date to file your tax return and claim your tax refund with clarity and confidence.