Accelerate Your Tax Refund With Tips For A Speedy Return
Your tax refund is the last thing you want to wait for, but sadly, most of this process is out of your hands. However, you can increase the chances of a speedy return. From filing your return as soon as possible to completing the process online, you can take practical steps to ensure a quick process this tax season
Keep reading to discover Georgia Auto Pawn, Inc.'s five tips and tricks to help you get a fast tax return this year
5 Top Tax Refund Tips for a Speedy Return
1. File Your Return As Soon As Possible
Filing your tax return as soon as possible is essential for getting your refund sooner. Interestingly, that isn't the only reason the "sooner rather than later" approach is better — it also decreases the likelihood of criminals snatching your refund for themselves.
Typically, tax return theft begins when someone takes your personal information. They then use this new information to file fake tax returns and slip the refunds into their pockets.
The outcome? When you go to file your tax return, you'll receive an error message or a letter from the IRS noting you've already filed for the year. Thus, you'll have to wait months for the IRS to sort everything out and put the refund in your account.
2. Don't File Paper
It's 2024, so this should go without saying, but ditch paper tax returns. They take six to eight weeks to process, with some waiting for up to six months. Instead, file electronically. That way, the IRS will likely issue your refund within 21 days. There are a few ways to file your tax return electronically:
- Free File service — Provided you have an adjusted gross income of $73,000 or less, the IRS can give you brand-name tax preparation software to create and e-file your return.
- Free File Fillable Forms service — If your adjusted gross income is more than $73,000, you can use this IRS-provided service to input your data onto tax forms, allowing you to file electronically.
- Tax software or tax professional — The best tax preparers and the big names in tax software allow you to file electronically. And if you have super simple returns, you can even use the software's free versions to save money.
3. Select Direct Deposit
We can't talk about a speedy return without mentioning choosing direct deposit as the payment method — it's unarguably the fastest option. The refund will be deposited directly into your bank account by selecting direct deposit.
If you need a bank account and want to avoid opening one, you can use a direct deposit with a prepaid debit card for even more convenience.
4. Double-Check Everything
Incomplete information, incorrect details, or missing data on your tax return can cause a manual review, leading to processing delays. Naturally, this will delay your tax refund.
Make sure you collect all relevant tax documents and take the following steps to avoid common errors:
- Always include unemployment compensation. Otherwise, a manual audit will probably be triggered.
- Answer the virtual currency question to outline crypto transactions (received, sold, disposed, exchanged, etc.). Please don't leave it blank.
- Use the proper filing status (i.e., single, married filing separately, head of household, married filing jointly, or qualified widow/widower).
- Don't leave out any income. Underreporting taxable income causes penalties, delaying your refund.
- Sign and date it to prevent incomplete field flags.
5. Take Note Of Its Journey
Once you have filed your tax return, track the refund's whereabouts. This will make it come in slowly, but it offers a more precise timeline of when you can expect your money. When you e-file your return, you should be able to track the refund 24 hours after the IRS accepts the return.
Although, you'll have to wait at least four weeks if you have submitted your return via mail. Despite the extra wait time, you will be notified when the IRS receives your return, once it approves your paperwork, and when your refund has been sent.
How Can You Pay For Emergencies While Waiting For Your Tax Refund?
If you want your tax refund to pay for an unexpected expense, but it isn't coming in as quickly as you'd like, you can turn to Georgia Auto Pawn, Inc. We offer title pawns to those with excellent or poor credit, ensuring you can gain access to up to $15,000 when you need it most.
The loan amount you can qualify for depends on the value of your vehicle. The more it's worth, the more you can borrow. However, we recommend that you only apply for what you need; you'll only be able to repay it anyway. Our requirements are simple:
- A driver's license or a state-issued ID
- A lien-free title
- A vehicle for inspection
Getting a title pawn with us is fast, so fast that the process can take as little as 30 minutes to complete! This ensures you can get emergency cash the same day you apply or the following business day.
Let Georgia Auto Pawn Inc. Bridge The Gap Today!
Following the tips mentioned above and tricks can help you get a quick return. However, financial But remember, you can always get a title pawn from us if you're in a particularly sticky financial situation. Complete our online inquiry form or give us a call to begin the title pawn process in Georgia today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.