Tax Refund 2025: How to Get Your Tax Refund Faster? check more details here.
With tax season in full swing, many taxpayers are anxiously awaiting the arrival of their tax refund .
This year, the Internal Revenue Service (IRS) has reported that the average refund is 38% higher than last year. In addition, the agency assures that 90% of taxpayers receive their refund in less than 21 days. However, to access this benefit quickly, it is essential to follow certain key steps.
The key: file electronically and opt for direct deposit
The IRS emphasizes that the fastest and safest way to receive your tax refund is through electronic direct deposit. While the agency can send paper checks, this method is slower and carries additional risks, such as loss or theft. Instead, direct deposit ensures faster and more secure delivery, similar to the system used to transfer Social Security and Veterans Affairs benefits.
Currently, eight out of ten taxpayers already use direct deposit to receive their refund. However, the IRS is looking to increase this number due to its advantages in speed and security.
How does direct deposit work?
If you use tax preparation software, you simply select direct deposit as your refund method and enter your bank account number and routing number . These details can be found on the bottom of your checks or by accessing your online banking.
If you have a tax preparer, let your professional know that you want to receive your tax refund via direct deposit. Even if you decide to file your return on paper, you can also opt for this method, as long as you enter your banking information correctly.
What happens if I don't have a bank account?
If you don't have a bank account yet, you can still open one. You can research options on the Federal Deposit Insurance Corporation (FDIC) website or the National Credit Union Administration. Additionally, some prepaid debit cards and mobile apps allow direct deposits, as long as you provide an account and routing number. Check with your financial institution to confirm if your card or app is supported.
Read also: Get a text about a $1,400 IRS stimulus check? Don’t click the link, BBB says
Refund Tracking: Check your status online!
For taxpayers who opt for direct deposit and file electronically, the IRS issues most refunds in less than 21 days. Additionally, the agency offers a “Where’s My Refund?” tool on its website that allows taxpayers to track the status of their refund. Taxpayers can also call 800-829-1954 for up-to-date information.
However, if you file your return on paper, the process for issuing refunds can take four weeks or more. That's why the IRS strongly recommends using electronic filing combined with direct deposit to speed up the process.
So, if you want to receive your tax refund quickly, be sure to file electronically, choose direct deposit, and verify that your banking information is correct. These simple steps can make the difference between waiting weeks or receiving your refund within a few days.
Check Also : Where's My Refund? @www.irs.gov/wheres-my-refund