How to Get your Tax Refund Back Fast
- 1). If you are going to have your accountant do your taxes for you, hopefully you have already made an appointment, but if you haven't call them now and get the soonest appointment you can. My accountant says, he begins receiving phone calls to schedule appointments in December.
- 2). First thing is you need to get all your information together. All your receipts through the year should all be in one spot, but if not start locating them and put them in one spot. Using a large manila envelope to put them in as you find them is helpful. As you get your 1098's, 1099's and W-2's in the mail, make sure you put them all in one place, such as a top drawer that you don't use much or just clip them together as they come in.
- 3). Start filling out your form now. It doesn't matter if you don't have your 1099 or not as you can look at your last pay stub to figure out what it should be. If you are using computer software, go ahead and start working on it.
- 4). Review the new tax laws that passed and decide if you qualify for any of them. For example, if you failed to qualify for the full stimulus rebate based on your tax return because of your salary and you lost your job, check to see if you are eligible now.
- 5). When you have some extra time, then go through the manila envelope and start sorting your receipts and clipping them together. Put medical expenses in one pile and clip together, then interest paid in another, then your business deductions in another. Clip a blank note to each pile saying what it is for.
- 6). Using a calculator with a tape, add up all your sorted receipts and then attach the tape total to each pile.
- 7). The IRS likes e-filing and they say it expedites your refundd claims it expedites your refund. The IRS is offering an e-filing service. Stop by their website to find out about it.
- 8). Having the refund go direct deposit is faster. Consider putting down your bank information on your tax return and you will get it approximately 2 weeks faster than waiting for it to be mailed to you.
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