As the 2020 tax filing season begins, a majority of individuals are likely to act earlier in hopes of getting a refund back as quickly as possible. Doing so would not only put a little extra money in their pocket during the first quarter of 2021, but it would also avoid having to file an extension or worry about the upcoming return for months.

There are always a few steps on any tax prep checklist and following these procedures can help save you time and money. In addition, the filing process for next year may be a little bit different than in the past - depending on when you filed last year - due to the ongoing coronavirus pandemic. Without another delay in the filing date anticipated, most returns will be submitted prior to mid April. Fortunately, there are a few actions individuals can take in order to ensure their returns are processed quickly, leading to a faster refund.

E-Filing

An overwhelming majority of accounting firms and tax professionals are required to efile tax returns on your behalf. This is the safest, fastest, and most effective means of submitting your return. Doing so ensures that the information is quickly received, processed, and any refund amount distributed in a timely manner.

Refund Method and Timing

There are typically two different ways individuals may receive their refund amount - paper check via mail or direct deposit. Although the time frame varies for both state and federal returns, electing to have your refund electronically deposited into the bank account on file is quicker. You’ll want to be sure that all of the banking information (routing and account numbers) are correct on your return, prior to filing, in order to avoid any miscues and receive your money fast as possible.

Refund Locator

One day after filing, individuals can check the IRS online tool for tracking the processing and refund distribution specific to your return. By providing the matching social security number, filing status, and exact amount to be distributed, individuals can track their refund and see precisely when it should arrive. If any problem is discovered here, then contacting your filing agent is a good next step to check for a cause of the delay.

Should you need help filing taxes, locating your refund, or are in search of answers to tax related questions, then let the tax professionals at Bloch Rothman and Associates assist you today. In addition to providing answers for your questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a top quality tax service, our group can also complete all types of returns and get answers to any other factors associated with financial issues or concerns you may have. Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!