Avoid IRS Tax Refund Delays with 3 Easy Filing Tips
Avoid IRS Tax Refund Delays with 3 Easy Filing Tips

Avoid IRS Tax Refund Delays with These Easy Filing Tips

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You may be hearing about IRS refund delays, but don’t worry. Follow these easy steps to get closer to your refund:

 

 

  1. Get your documents ready. Gather all your tax forms like W-2s and 1099s, receipts, and correct social security numbers for dependents all in one place so you can file an accurate tax return.
  2. Gather letters 6419 and 6475. If you received the third stimulus or the advanced Child Tax Credit make sure you enter the correct amount you received, as incorrect entries can delay processing of your return and refund. The IRS is sending letter 6475 which reports the amount of third stimulus you may have received and letter 6419 which reports the amount of advanced Child Tax Credit you received. Have these letters in front of you when you file, so you can report the correct amount and get any additional credits you’re eligible for.
  3. Directly import forms into TurboTax. You don’t need to wait for your W-2 to come in snail mail. With TurboTax, you can import your W-2 directly from your employer or payroll provider eliminating data entry. We can also use last year’s info to jump start your return.
  4. E-file with direct deposit. It’s the fastest way to get your tax refund. Overall, the IRS anticipates nine out of 10 taxpayers will receive their refund within 21 days or less when they file electronically with direct deposit if there are no issues with their tax return.
  5. File for valuable credits. If you don’t usually file a return, didn’t file a 2020 return, or use the IRS Non-filer tool, the IRS encourages you to still file your 2021 tax return so you don’t miss out on valuable tax credits like the Earned Income Tax Credit worth up to $6,728 for a family with three kids, the Child Tax Credit, and the Recovery Rebate Credit, which can give you a refund.
  6. Use $0 adjusted gross income if your 2020 return is not processed. Whenever you e-file you need to input your prior year adjusted gross income(AGI), but if your 2020 tax return is not processed yet use $0 for your prior year AGI to avoid your return being rejected.
  7. Don’t wait! File now so you’re the first in line to get your tax refund when the IRS opens.

Keep in mind that under the Path Act, if your refund includes Earned Income Tax Credit and Additional Child Tax Credit, the IRS is not allowed to issue your tax refund before mid-February.  

You should still file now so you can be the first in line for your tax refund once the IRS can issue your refund. If you file with TurboTax Online by February 15, 2022, and have a Federal refund of at least $500 (excluding any recovery rebate credit), you may be able to get a Refund Advance in as little as 1 hour of IRS e-file acceptance. To ensure you can get the money you need when you need it most, the maximum Refund Advance amount available this year is $4,000.

*You could get your tax refund up to 5 days earlier when you have it deposited with Credit Karma Money™*. If you do choose to use Credit Karma Money™ to get your refund earlier all the money will be yours to keep because we never charge fees.** If you choose to pay your tax preparation fee with TurboTax using your federal tax refund or if you choose to take the Refund Advance loan, you will not be eligible to receive your refund up to 5 days early.

According to the IRS, they are receiving a record number of calls. If you have questions, TurboTax has resources, tools, and tax experts that can help you. With TurboTax you will be guided through your tax return, you can get help along the way, or you can just fully hand your taxes over with TurboTax Live.

If you have a simple tax return, you can do your taxes yourself for free with TurboTax Free Edition, you can fully hand your taxes over for free with TurboTax Live Full Service Basic Offer until March 31, or you can get help along the way with TurboTax Live Basic Offer until March 31.

TurboTax Free Edition, TurboTax Live Basic, and TurboTax Live Full Service Basic are designed for tax filers with a simple tax situation, filing Form 1040 only. Simple situations covered include W-2 income, limited interest and dividend income, standard deduction, Earned Income Tax Credit, and Child Tax Credit, and Student Loan interest.

*Get your tax refund up to 5 days early: When it’s time to file, have your tax refund direct deposited with Credit Karma Money™, and you could receive your funds up to 5 days early. If you choose to pay your tax preparation fee with TurboTax using your federal tax refund or if you choose to take the Refund Advance loan, you will not be eligible to receive your refund up to 5 days early. 5-day early program may change or discontinue at any time. Up to 5 days early access to your federal tax refund is compared to standard tax refund electronic deposit and is dependent on and subject to IRS submitting refund information to the bank before release date. The IRS may not submit refund information early. 

**No Fees: Third-party fees may apply. Please see Account Terms & Disclosures for more information.

For Credit Karma Money (checking account): Banking services provided by MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply.

Lisa Greene-Lewis

Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. More from Lisa Greene-Lewis

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