Why was your tax refund delayed?
Everyone likes getting a big tax refund. If your are that lucky to get one but you are experiencing a delay, be patient. It should take about three weeks max but in some cases some factors may have contributed to the prolonged tardiness. If you don’t want to wait that long, you should inquire about what’s holding your refund or hire a Fort Lauderdale tax attorney.
Incomplete tax return
This is one of the most common causes of refund delays. There is usually some type of information missing. Basic information such as Social Security and number of dependents should be accurate or your refund may take a while to reach your pockets.
Let’s face it, numbers can be complicated. Even if your tax preparer is not dyslexic, taxes that are prepared manually are more prone to errors. Errors in your taxable income and taxable Social Security income as well as the amount of taxes withheld and taxes paid can lead to major discrepancies when computing your tax return.
SSN name and number
The name and number on your return needs to match your Social Security official information. If there is a mismatch you will experience a significant delay. You will have to correct these errors before receiving your refund and this may take a while.
Filing too early or too late
Being an early filer may not be such a good idea as changes to tax codes may occur after you filed your taxes and your refund can be significantly delayed. Filing at the last minute can also work against you as many people who already filed their taxes and their refunds will have their refund processed first than yours. If there is someone stealing your identity and this person filed before you, you are out of luck. The IRS will take a few months to investigate the fraud and your refund will be delayed.
Get your direct deposit info right
Something as simple as your refund information can delay the money from reaching your bank account. When this method is rejected, the IRS will mail a check, which may take a while depending on how long the IRS takes to process the check and how long the Postal Service takes to deliver it.
Paper tax return
Returns file electronically take about three weeks to provide you with your refund while paper returns may take much longer. E-filing may not be an option for some individuals as some situations require mailing important documentation.
You may need to make some changes in your tax return. This is called an “amendment return,” which may take up to 12 weeks to process. However, you should wait until your get your refund to do an amendment since the IRS system may fix the errors on its own before the refund is sent out.
Get your refund
Income tax mistakes are very common. This is why hiring a Fort Lauderdale tax attorney can help you speed up the process and guarantee you get a fair refund. Tax issues can be complicated if you don’t have someone familiar with tax laws guiding you along the way.