The 2024 tax filing season is upon us. The IRS will begin accepting 2023 returns on January 29. Here are some tax tips to help speed up the process.
1. The fastest way to get a refund is to file your return early, to file electronically and, if you e-file, to request that the money be deposited directly into your account.
Although the IRS has improved its processing of paper returns, there are still delays. The IRS pays most refunds within 21 days. But some refunds will be held up. Filers claiming the earned income tax credit or refundable child credit will have to wait until at least late February for their refunds, or even later if they file paper returns. Measures to help detect tax identity theft and refund fraud could also result in delays.
