Checking refunds are Fast and Easy. Direct Deposit is even Faster
Checking refunds are fast and easy when you use direct deposit. Did you file your 2016 federal return? Are you due a refund? You can check the status of your refund online.
Check Your Federal Tax Refund Status Online.
“Where’s My Refund?” is an interactive tool on the IRS web site at IRS.gov. You can split your refund among several accounts, choose to deposit directly into one account, or prefer to have the IRS mail you a check. Regardless, which you select, “Where’s My Refund?” will give you online access to your refund information nearly 24 hours a day, 7 days a week. We highly suggest you use it for your checking refunds and direct deposit for your tax refund.
E-file Refunds Usually Take 21 Days After Filing.
When you e-file, the IRS acknowleges receipt of your tax return within 24 hours. And, it usually takes less than 21 days for refunds that were sent via e-file. However this is not the case for returns set before February 15th with the earned income tax credit and/or the additional child credit. If you file a paper return, refund information will be available within four weeks. When checking the status of your refund, have your federal tax return handy.
How to check your refund with the IRS?
For IRS refunds and to access your personalized refund information, you must enter:
- Your Social Security Number (or Individual Taxpayer Identification Number);
- Your Filing Status (Single, Married Filing Joint Return, Married Filing Separate Return, Head of Household, or Qualifying Widow(er)); and the
- Exact refund amount shown on your tax return.
Once you have entered your personal information, one of several responses may come up, including the following:
- Acknowledgement that your return has been received and is in processing.
- The mailing date or direct-deposit date of your refund.
- Notice that the IRS has been unable to deliver your refund, on account of an incorrect address. In that case, you can update your address online using the “Where’s My Refund?” feature.
What is the Quickest Way to Receive My Tax Refund?
The quickest refunds are processed as a direct deposit. Make sure you allow additional time for checks to be processed through the mail.
“Where’s My Refund?” also includes links to customized information based on your specific situation. The links guide you through the steps to resolve any issues affecting your refund. For example, if you do not get the refund within 28 days from the original IRS mailing date shown on “Where’s My Refund?,” you can start a refund trace online.
Get the Quickest Refunds Using Direct Bank Deposit
Do you want your tax refund quick? Don’t wait around for a paper check. Have your federal tax refund deposited directly into your bank account. This may apply for your State Refund as well. Massachusetts allows e-filing for $25 fee. Selecting Direct Deposit is a secure and convenient way to get your money into your pocket quickly. Even for taxpayers whose refunds will be will face delay until after February 15, because they have an earned income credit or additional child tax credit.
Why is Direct Deposit is the Fastest Way to Get a Refund?
When combining e-file with direct deposit, the IRS will likely issue your refund in no more than 21 days.
Having the IRS deposit directly to your bank, offers the most secure method of obtaining your refund. There is no check to lose. Each year, the U.S. Post Office returns thousands of refund checks to the IRS as undeliverable mail. Direct Deposit eliminates undeliverable mail and is also the best way to guard against having a tax refund check stolen.
Simply provide this office with your bank routing number and account number when we prepare your return and you’ll receive your refund far more quickly than you would by check.
The money goes directly into your bank account. You won’t have to make a special trip to the bank to deposit the money yourself.
Eligible Financial Accounts
You can direct deposit your refund to any of your checking or savings accounts with a U.S. financial institution as long as your financial institution accepts direct deposits for that type of account and you provide valid routing and account numbers. Examples of savings accounts include: passbook savings, individual development accounts, individual retirement arrangements, health savings accounts, Archer MSAs, and Coverdell education savings accounts.
You can deposit your refund into up to three financial accounts that are in your name or your spouse’s name if it is a joint account. You can’t have part of the refund paid by paper check and part by Direct Deposit. With the split refund option, taxpayers can divide their refunds among as many as three checking or savings accounts at up to three different U.S. financial institutions. Check with your bank or other financial institution to make sure they accept your deposit in the form of an ACH transfer from the IRS to you.
Deposit Can’t Be to a Third Party’s Bank Account
To protect taxpayers from scammers, Direct Deposit tax refunds can only be deposited into an account or accounts owned by the taxpayer. Therefore, only provide your own account information and not account information belonging to a third party.
Fund Your IRA
You can even direct a refund into your IRA or myRA account.
How Do I Set Up Direct Deposit for my Tax Refund?
To set up a Direct Deposit, you will need to provide the bank routing number (9 digits) and your account number for each account into which you wish to make a deposit. Please have these numbers available at your appointment. Speaking of appointments, did you schedule your appointment to have your taxes done? For more information regarding Direct Deposit of your tax refund and the split refund option, we would be happy to discuss your options with you at your tax appointment call Alex Franch, BS EA at 781.849.7200 for details.
Alex Franch is an enrolled agent with the IRS. Or, should you need to meet with someone from our tax team, you are welcome to book your appointment online. Oh, and right now we have an incentive for you. Drop off or mail your taxes to one of our three locations in locations in Quincy, Weymouth and Dedham an you will save $35 on your tax preparation click here for details and other incentives. Please note some exclusions may apply.