TAX season is here — and many Americans have already received refunds.
With the deadline of April 15 approaching quickly, it’s best to start filing on time to avoid delays and penalties.
The Internal Revenue Service (IRS) confirmed earlier this month that it has already issued about eight million refunds for the 2025 tax season.
Refund amounts currently have an average of about $2,065.
While filing ahead of time was the main reason the eight million taxpayers already obtained their refunds, the time it takes to receive them can vary greatly depending on several factors.
The first involves the method taxpayers use to submit their filing, according to what Janeil Pierre, board-certified credit consultant and accredited financial counselor, told The U.S. Sun.
Pierre recommended Americans always file electronically and take the refund as a direct deposit payment.
“As always, the best way to ensure your refund is processed as quickly as possible is to file it electronically and opt for direct deposit,” she advised.
The expert also noted that the electronic filing and direct deposit selection — along with submitting as soon as possible — will be the best avenue for a quick refund, although it’s not guaranteed.
“The IRS continues to emphasize that taxpayers should submit their returns well before the April 15 deadline to avoid unnecessary delays,” Pierre added.
JOB CUTS
Armine Alajian, tax consultant, fractional CFO, and founder of the Alajian Group, echoed a similar sentiment and urged taxpayers to take the necessary steps to avoid delays due to an internal switch and “strain on resources” at the IRS.
She told The U.S. Sun recently that around 6,000 jobs are set to be cut during the peak filing season.
“My advice is to file returns electronically, and do it as soon as possible,” Alajian said.
“These [IRS] employees were hired by the previous administration, and the number of audits have increased since then.”
“They’re laying off those agents that were assigned to those jobs, and now they want to eliminate those audit efforts,” she continued.
“In general, the IRS is extremely difficult to get through, and things take so long.”
As always, the best way to ensure your refund is processed as quickly as possible is to file it electronically and opt for direct deposit.
Janeil PierreBoard-Certified Credit Consultant and Accredited Financial CounselorALL IN THE DETAILS
Another major tip for taxpayers to ensure they get any money owed back to them on time is to take a moment to ensure all of the information on their 2024 return is correct.
Incorrect details can lead to the IRS having to conduct a manual review, causing the most considerable delays.
“The biggest refund delays happen when the IRS has to manually review a return, which is often triggered by mismatched income, incorrect Social Security numbers, or missing forms,” Rachel Richards, CPA and Head of Product at Gelt explained to The U.S. Sun.
“If you earned freelance income, sold stock, or withdrew from a retirement account, make sure every 1099 is reported — leaving off income is an almost guaranteed way to trigger an IRS red flag.”
“Also double-check your direct deposit information; a single incorrect number can send your refund in limbo for months.”
CHECK OFF THE BOXES
According to the experts, here’s what you need to remember if you want the biggest and fastest refund this year:
File as soon as possible and well before April 15, 2025 File electronically Set up direct deposit for refunds Ensure ALL information is correct and all forms are includedExperts also recommend that those who get a refund use it to pay off high-interest debt, set it aside in an emergency savings fund, or put it toward retirement over anything else, per Fox Business.
For those Americans worried they might make errors or want to ensure they get the most out of the refund, companies like TurboTax and H&R Block offer tax expert services to help you file for a fee.
There are also several ways to file for free.
The IRS offers a variety of methods for eligible taxpayers — including Free File, Direct File, Free tax services for military and veterans, and IRS-certified volunteers.
Americans could also be losing out on an extra $5,000 when they file this season due to failing to select an important option.
Some are also set to get an extra little-known payment of up to $8,046 so long as they meet at least six criteria.
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