If you’ve filed a tax return, you probably want to get your refund as soon as possible. However, you may have a few reasons to wait before you see your money. Forms may not be completely completed or errors may have crept into your tax return. You may also suspect a tax fraudster. Either way, direct deposit is the best way to get your tax refund as quickly as possible.
Errors on tax return
If you have noticed an error on your tax return, you may have to amend it. The IRS sends out notices to members when they make mistakes, but it’s important to check the information to ensure you made the correct calculation. Occasionally, the IRS will also fix the mistake and correct it based on information they already have on file. If you are not sure what the error was, contact the IRS and get a copy of their notice.
In most cases, the mistake is a simple addition or subtraction error. In such a case, you must file Form 1040X and explain why you made the mistake.
Forms that weren’t filled out completely
It is possible that you didn’t completely fill out all of the required fields on the IRS Form 1040. The IRS provides a form for filling out these forms on a computer or cell phone, but you need to make sure that you fill out all fields. If you’re unhoused, you may want to ask a friend or family member for their address so that you can receive your check. Make sure to use a real address because the IRS cannot send checks to a P.O. box, so you’ll need to make sure you have a real address. Otherwise, you can create a free email account through a website and use that.
Suspicion of tax fraud
Suspicion of tax fraud is a serious matter. If you are a senior citizen, you should keep in mind that identity thieves may pose as IRS agents, attempting to obtain sensitive information such as your social security number. It is best to avoid anyone claiming to be an agent of the IRS, even if they have a picture ID. It is also important to avoid letting anyone into your home, especially if you suspect tax fraud.
The first step in preventing tax fraud is to freeze your credit report. This way, you’ll be able to spot any suspicious activity before it causes more harm. In addition, you can file Form 14039, a notification to the IRS that your social security number has been stolen. The form must include information about the affected tax years and the last return you filed before the fraud occurred. The form can be mailed, faxed, or attached to a paper return.
Other reasons for delays
Tax refund delays can be caused by a variety of factors. Some are beyond the taxpayer’s control, such as typos or math errors. However, the IRS has developed systems to flag common mistakes that are leading to delays. Taxpayers are also experiencing delays due to a pandemic of Economic Impact Payments, or stimulus checks. These checks create an extra hurdle for the IRS and create an error rate that is significantly higher than usual.
These delays are affecting the lives of American taxpayers and are causing financial hardship for those waiting for a refund. They are also putting their life plans on hold, and may be worried about their next step. Historically, taxpayers have accepted IRS delays as a necessary confirmation stamp, but the IRS is increasingly disrupting lives.
