5 Ways to Make Sure You Get a State Tax RefundPublished:
We all look forward to getting that tax refund status check in the mail come tax season. However, you may be in for an unpleasant surprise if you’re not careful. There are several things that can happen to your tax refund status between your state’s tax office and your pocket. Here are five ways to make sure you get the money you’re owed:
1. File Early
Though it may seem that you should be able to file, wait a few weeks, then get your money, this doesn’t always happen. For instance, some states have problems with simply running out of money! This can lead to a long delay with your refund status.
To avoid this, file as early as you can. This will avoid any issues that arise down the road. It can also get your tax refund status funds in your pocket much quicker.
2. Call And Check Your Account
You may not be aware of it, but there could be notes on your account to transfer your funds elsewhere. Old debts like child support or alimony might mean your tax refund status money doesn’t make it to your pocket.
Even worse, they might not be your own! If someone has stolen your identity, they may put all their debt on you. You would never know until that fateful day when you open the mail and get a very bad letter about your tax refund status. It’s best to check now before you find out the hard way!
3. Make Changes to Your Bank Account
If you have anything you need to change concerning your bank account, go ahead and do it now! This includes anything from adding a spouse to changing your account entirely. It may seem like a small thing, but this is a major headache for a lot of taxpayers. Their refund status funds can’t be deposited in their account if the information isn’t the same. Believe it or not, some people file their return and then change their bank account, forgetting that they asked for a direct deposit. This causes confusion and a delay with a tax refund status.
4. Consult an Accountant
If you’re single with one job and no crazy deductions, consider yourself very lucky. Your filing to get your tax refund status will be one easy job. However, if you have need to use the 1040 tax forms to file because you have a lot of info to add such as deductions, consider consulting an accountant or tax attorney.
Often, accountants will be able to find you loopholes and deductions of which you were unaware. This might make the difference between getting your refund status and empty pockets.
5. Don’t Make Mistakes
This is easier said than done, of course. But checking and rechecking your tax return is an easy way to make sure you don’t incur any fees on your account. Any errors can lead to fees on your tax refund status. This also might make the difference between getting a refund status check and leaving empty handed.
Besides doing all the calculations on the form again, also check for things like spelling errors or boxes you might have forgotten to fill in. If the slightest thing is off, it might lead to an audit or even fees that will eat into your state tax refund status.