Where’s My Refund? IRS tips for faster returns
Over $4 million in tax refund checks back to Montgomery County homeowners after Maryland tax error
Over $4 million in refund checks have gone out to thousands of Montgomery County homeowners after a tax error by the state of Maryland.
WASHINGTON - The Internal Revenue Service expects 140 million people to file returns by April 15 this tax season.
Here's when you can expect your refund, how to check its status, and tips to get it faster:
Use electronic direct deposit
"The best and fastest way to get your tax refund is to have it electronically deposited for free into your financial account," the IRS said online.
The IRS can deposit refunds into one or multiple accounts. Taxpayers can select direct deposit through their tax software. Ensure you have the account number and routing number where you want the refund sent. Routing numbers, which identify the bank’s branch location, are usually listed on bank websites. Your account number can typically be found by signing into your online banking account or by contacting your bank branch directly.
Combine direct deposit with electronic filing
"Combining direct deposit with electronic filing is the fastest way to receive your refund," the IRS advises. This method helps avoid refunds being uncashed, lost, stolen, or destroyed.
The IRS reports that nine out of ten refunds are issued in less than 21 days. Taxpayers using direct deposit often receive their refunds quicker.
No bank account for direct deposit?
If you have a prepaid debit card, you may be able to have your refund deposited to it. Reloadable prepaid cards have account and routing numbers that can be provided when filing taxes. Some mobile apps also allow for direct deposit of tax refunds, provided they have associated routing and account numbers.
Taxpayers can visit the FDIC website or the National Credit Union Administration's Credit Union Locator Tool for information on opening an account online.
What if your direct deposit is rejected?
The IRS assumes no responsibility for errors made by tax preparers or taxpayers. To limit errors, verify your account and routing numbers with your financial institution.
If the bank recovers the funds and returns them to the IRS, the IRS will send a paper refund check to your last known address. You can also initiate a trace on your refund. If funds aren’t available or the bank refuses to return them, the case may become a civil matter between you and the financial institution and/or the account owner.
More from the IRS ONLINE.
The Source: Information in this article comes from the Internal Revenue Service and FOX 5 reporting.