According to the IRS, the average tax refund is $2,725. That’s a significant chunk of change, and it generally arrives within 21 days of filing your return. But what if you need that money sooner? Here are a few tips for getting your refund back quickly.
File electronically. The IRS says that taxpayers who file electronically can expect to receive their refunds in as little as two weeks. So if you haven’t already filed your return, consider doing so electronically. You can even set up direct deposit when you e-file, which will ensure that your refund goes directly into your bank account.
Track your refund. Once you’ve filed your return, you can track its progress by using the “Where’s My Refund?” tool on the IRS website. All you need is your Social Security number, filing status, and the exact amount of your refund. The tool will give you an estimate of when you can expect your refund to be deposited into your account.
Check for errors. If it’s been more than three weeks since you filed your return and you still haven’t received your refund, it could be because of an error on your return. The best way to check for errors is to request a copy of your return from the IRS; you can do this by calling 1-800-829-1040. Once you have a copy of your return, review it carefully to make sure there are no mistakes. If you do find an error, correct it and resubmit your return as soon as possible.
If you’re expecting a tax refund this year, congratulations! The average refund is $2,725, which can come in handy for covering expenses or paying off debt. And while it generally takes the IRS 21 days to process refunds, there are a few things you can do if you need your money sooner rather than later. By following these tips, you can get your tax refund back quickly—and start putting that money to good use right away