How to Get Your Tax Refund Faster in 2021 When Delays Are Expected

How to Get Your Tax Refund Faster in 2021 When Delays Are Expected

February 2, 2021

The 2021 tax preparation season in Hayward, CA will have a whole lot of extra complications and issues for taxpayers to navigate as they gather and fill out all of their paperwork. This is in large part due to the stimulus checks that may or may not have arrived for people before it comes time for them to fill out their taxes.

The latest round of $600 stimulus checks was signed into law on December 27 and started being distributed soon thereafter. But many people, due to a wide range of issues, never actually received their checks, and the problems were particularly widespread among people who filed via TurboTax or H&R Block.

Those issues, as well as other issues happening with taxes this year as a result of the pandemic, could result in some lengthy delays for tax returns being distributed, even after all paperwork has been filed. So, what can you do to get your tax refund faster, considering delays are expected? Here are some tips:

  • File electronically: The Internal Revenue Service (IRS) is encouraging taxpayers to file their tax returns electronically whenever possible. This will significantly speed up the refund process.
  • Use direct deposit: These days, most taxpayers use direct deposit for their tax returns, but if you have still been receiving physical checks with your tax return, now is the time to make the switch. Direct deposit will significantly speed up the process of getting your return, and given the economic circumstances of the last year, chances are you don’t want to wait any longer than needed to get your hands on any money you’re owed, especially if you’re still missing stimulus money.
  • File right away: The IRS encourages you to file your paperwork as soon as you have all of the necessary information in hand. If you’re filing electronically, this shouldn’t take very long at all if you’re taking the standard deduction.
  • Take the standard deduction: Speaking of the standard deduction, this is a great way to speed up the process of filling out your tax paperwork and getting your return. Since the changes to the tax code went into effect several years ago, the standard deduction has doubled, and thus is now the best option for more than three quarters of American taxpayers. Most people will no longer benefit from itemizing, but if you do need to itemize, make sure you approach tax season with your paperwork already organized so you don’t have to hunt down all the necessary information.
  • Look into return advance opportunities: Some services like TurboTax are offering services that give people an advance on portions of large tax return payments. This can be a beneficial service if you’re in financial need right now.

Need some additional advice about how you can speed up the tax return process and navigate the expected delays that will impede tax return distribution in 2021? For help with tax preparation in Hayward, CA, reach out to Menjivar & Company CPAs, Inc. with any questions you have about the various services we offer.

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