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Tax season has kicked off and the IRS has started to process 2023 returns. If you're expecting a refund, there are a few ways to get the money faster, experts say.
Often, "self-inflicted mistakes" cause refund delays, according to Mark Steber, chief tax information officer at Jackson Hewitt.
The IRS is planning for more than 146 million individual tax returns this season, and the deadline for most filers is April 15.
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Typically, you get a refund when you overpay taxes throughout the year. As of Dec. 29, the average refund for last year's filings was $3,167, which was 2.6% smaller than 2022.
'The best way to get your refund fast'
With many Americans relying on tax refunds, there are a few ways to speed up the process, experts say.
"Filing electronically and selecting direct deposit is the best way to get your refund fast," IRS Commissioner Danny Werfel told reporters during a media briefing Friday. During fiscal 2022, some 93.8% of individual taxpayers filed electronic returns, according to the IRS.
Filing electronically and selecting direct deposit is the best way to get your refund fast.
Danny Werfel
IRS Commissioner
When selecting direct deposit, it's important to double-check your banking details such as routing and account numbers. If those are wrong, the IRS may have to mail your payment by check, experts say.
Don't 'guesstimate' on your taxes
Tax return mistakes are another reason for delayed refunds.
"You need to be accurate," Steber said. "You can guesstimate on horseshoes" but not on your taxes, Steber added. You'll need all the necessary tax forms to file a complete and error-free return. Otherwise, the IRS systems may flag your return for missing information.
Some common tax return errors are "surprisingly simple," such as missing or inaccurate Social Security numbers, misspelled names, entering information wrong and math mistakes, according to the IRS.
When to expect your tax refund
Most taxpayers will receive their refund within 21 days of submitting their return, "and many people will see it faster than that," Werfel said Friday. Of course, paper-filed returns or filings with errors may take longer.
There's also a longer timeline if you're claiming the earned income tax credit or child tax credit. By law, those filers won't see refunds until Feb. 27 at the earliest, according to the IRS.
You can check your payment status via the Where's My Refund tool, which provides more details this season, including actions needed from taxpayers, Werfel said.
You can use the tool to check your refund status within 24 hours of filing a current-year, electronic return and the IRS updates it overnight every day.
FAQs
'The best way to get your refund fast'
Which method is the fastest way to get your tax refund? ›
Filing online is the fastest way to get your California tax refund. According to the State of California Franchise Tax Board (FTB), e-filings are processed within three weeks and paper filings within three months.
How to get a $10,000 tax refund? ›
How do I get a 10,000 tax refund? You could end up with a $10,000 tax refund if you've paid significantly more tax payments than you owe at the end of the year.
Why do some people get their tax refund faster? ›
Factors influencing tax refund processing time
E-filing vs. paper filing: Your filing method is an important factor that can impact the amount of time it takes you to receive your refund. Generally speaking, filing your return online will result in a significantly faster refund than filing via mail.
Can the IRS keep your tax refund? ›
If you owe a federal tax debt from a prior tax year, a debt to another federal agency, or certain debts under state law, the IRS may keep (offset) some or all your tax refund to pay your debt.
How to get a tax refund immediately? ›
Request an expedited refund by calling the IRS at 800-829-1040 (TTY/TDD 800-829-4059). Request a manual refund expedited to you.
How can I speed up my tax refund? ›
'The best way to get your refund fast'
During fiscal 2022, some 93.8% of individual taxpayers filed electronic returns, according to the IRS. Filing electronically and selecting direct deposit is the best way to get your refund fast.
Who gives the fastest tax refund? ›
E-file plus direct deposit yields fastest refunds
The IRS also encourages taxpayers to file electronically. While a person can choose direct deposit whether they file their taxes on paper or electronically, a taxpayer who e-files will typically see their refund in less than 21 days.
What is the IRS hardship program? ›
This program allows eligible individuals to postpone their tax payments until their financial situation improves. The IRS considers factors such as income, expenses, assets, and liabilities when determining eligibility.
Can I skip a year of filing taxes? ›
The law requires you to file every year that you have a filing requirement. The government can hit you with civil and even criminal penalties for failing to file your return.
General Initiative Eligibility
You should be current on all federal tax filings and owe no more than $50,000 in back taxes, interest and penalties combined. If you're a small business owner, you could be eligible for relief under the Fresh Start Initiative if you owe no more than $25,000 in payroll taxes.
Which tax service gives the fastest refund? ›
IRS says e-file is the fastest way to get your refund.
Get your tax refund faster with online e-file and direct deposit. According to IRS, you get the fastest possible refund when you use e-file to submit your return and choose direct deposit to receive your refund.
What is the fastest way a taxpayer can receive a refund? ›
E-file plus direct deposit yields fastest refunds.
Is there an instant tax refund? ›
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