The IRS has some very good news for all its taxpayers, and that is that you can now receive your tax refund in a much simpler and faster way. Now, they promise that this money will arrive in less than 21 days. How? As simple as clicking on a box. Stay and we’ll tell you how.
How can I receive my tax refund so quickly?
Very simple, file your tax return online, when you’re doing it, you’ll see that there’s a box that says “direct deposit” (in the payment methods). So click there! This way, you’ll get any refund from the Tax Administration directly into your bank account, and you won’t have to wait for a check or go through longer processes.
Is there any benefit to filing taxes online?
What could be more convenient than doing a procedure of this caliber from home? On top of that, the IRS prioritizes electronic filings, which will put your tax refund request at the top of the queue (that’s how your refund is processed so quickly). On the other hand, fear not, because it’s safe. The IRS has very advanced encryption technology that will keep your personal and sensitive information completely protected. It’s also free for many taxpayers, and you can take advantage of the Free File program to save on processing costs. On top of all that, you won’t need a printer (a relief for many, like us!), since, by filing your request from your mobile device, you won’t need to send any physical documents.
How does direct deposit work?
In case the Administration has to make a tax refund for you, when you choose this option (the one where you click on direct deposit, as we mentioned before), the IRS will transfer this refund directly to the bank account you specify. The best thing about this? It has three features that you didn’t count on:
- You can receive the refund in several different bank accounts
- The tax payment goes directly to your account, without intermediaries.
- You can even set dates for the money to arrive.
I’m interested, how do I do it?
First of all, make sure you have access to the IRS website. This is not as simple as registering, but said access will have to be approved by the IRS. Once you have the approved directory, prepare your tax information to file your tax return, complete all the data requested and make sure you have reviewed all the available tax deductions and credits. And, of course, click on the direct deposit button!
Frequently asked questions about the IRS:
- How long does it take the IRS to process a return? Normally, if it is done electronically, the average (as they promise) is 21 days.
- Is it safe? I am afraid that my data will be stolen: Don’t worry, the IRS encryption technology is very advanced because they understand that they are constantly dealing with very sensitive data. However, make sure you are on the official website and that you are doing the process from a trusted device.
- What if I don’t have a bank account? Don’t worry, there is a solution for everything. In this case, the IRS promises to send you a check with the refund that belongs to you, however, this may take longer (because they depend on local post offices)
4- Can I change the refund method if I have already finished filing my return? Unfortunately, you will not be able to modify your return once you have finished.
- Does direct deposit have any additional cost? No, it is a free service offered by the IRS.