Genesis Tax Resolution

The benefits of having a tax refund direct deposited

Receiving a tax refund is happy news to any taxpayer; getting it quickly is even better. Direct deposit is the safest and most convenient way to receive a tax refund. The IRS encourages taxpayers to file when they are ready and choose direct deposit to receive any refund they may be owed.

Benefits of choosing IRS direct deposit:
It's fast.
The fastest way for taxpayers to get their refund is to file electronically and choose direct deposit.

Taxpayers who file a paper return can also choose direct deposit, but it will take longer to process the return and get a refund.
It's secure. Since refunds are electronically deposited, there's no risk of having a paper check stolen or lost in the mail.
It's easy.
Taxpayers can simply follow the instructions when selecting direct deposit as a refund method and enter their account information as directed. They must enter the correct account and routing numbers when they file.
It provides options. Taxpayers can split a refund into several financial accounts.
These include checking, savings, health, education and certain retirement accounts. They should use IRS Form 8888, Allocation of Refund, Including Savings Bond Purchases to deposit a refund in up to three accounts. This form cannot be used to designate part of a refund to pay tax preparers.
Taxpayers should deposit refunds into U.S. bank accounts in their own name, their spouse's name or both. They should avoid making a deposit into accounts owned by others. Some banks require both spouses' names on the account to deposit a tax refund from a joint return. Taxpayers should check with their bank for direct deposit rules.

Why it may take longer than 21 days for some taxpayers to receive their federal refund

The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process. The IRS works hard to get refunds to taxpayers quickly, but taxpayers shouldn’t rely on getting a refund by a certain date.

Things that can delay a refund:

The return has errors, is incomplete or is affected by identity theft or fraud.
The return needs a correction to the child tax credit or recovery rebate credit amount.
The return has a claim filed for an earned income tax credit, additional child tax credit, or includes a Form 8379, Injured Spouse Allocation.
The time it takes a taxpayer’s bank or credit union to post the refund to the taxpayer’s account.
The IRS will contact taxpayers by mail if it needs more information to process their return.

The fastest way to get a tax refund is by filing electronically and choosing direct deposit. People who don’t have a bank account can learn about opening an account at an FDIC-Insured bank or the National Credit Union Locator tool.

Taxpayers can check the status of their refund online.

To check the status of a refund, taxpayers should use the Where’s My Refund? tool on IRS.gov. If taxpayers file electronically, they should wait twenty-four hours before checking the status of their refund. If taxpayers file a paper return, they should wait four weeks before checking the status.

IRS representatives on the phone and at Taxpayer Assistance Centers can only research the status of a refund if:

It’s been 21 days or more since the taxpayer filed the return electronically.
It’s been six weeks or more since the taxpayer mailed the return.
The Where's My Refund? tool tells the taxpayer to contact the IRS.

If you need assistance with tax problems or issues contact us at 205-547-0919 or email: [email protected]

Why it may take longer than 21 days for some taxpayers to receive their federal refund | Internal Revenue Service COVID Tax Tip 2022-54, April 7, 2022 — The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process.