5 Ways to Make Sure You Get a Federal Tax Refund

It may seem that your refund status money is guaranteed to go into your pocket, but that may not necessarily be so. There are a few reasons why you might be disappointed this tax season. Here are five ways to ensure the federal tax refund status you want!

1. Pay Your Debts
One common reasons taxpayers might be disappointed about their tax refund status this year is from failing to pay old debts. Do you have any student loans that are in default? Perhaps a few missed child support payments? Then your federal tax refund status funds may be compromised when your funds are routed toward those payments instead.

To ensure the refund status you want, check to see if all your payments are up to date. You can contact the IRS to see if there are any notes on your account that could result in garnishment of your federal tax refund.

2. Recheck Your Return
Go over your tax return with a fine toothed comb. Recheck all the calculations you’ve made. Also check for spelling errors and mishaps with things like your Social Security number or address.

Goofs on your tax return can mean not only a delay on your refund status, but could lead to your refund status getting eaten up by fees! When the IRS finds errors, they will put fees on your account. If they are big enough, it could mean your federal tax refund status will be totally gone. Check your return again to make sure!

3. Use Direct Deposit
Sometimes checks get lost in the mail. The post office might lose it or a thief could grab it. If you opted to get a paper check instead of direct deposit, you could risk wondering about your tax refund status for a long time. Unless you don’t have a bank account, you should have your tax refund direct deposited. It just takes a second to put in the information. Everything they need is on your checks. If you don’t use checks, check your account online or call your bank.

4. Try to Itemize
Instead of just taking the standard deduction to save time, go the extra mile and itemize your deductions. This requires using the standard 1040 tax form instead of the easier 1040A or 1040EZ. However, it can possibly make the difference between a positive tax refund status and no refund at all.

Just because you itemize your deductions doesn’t mean you will get a higher federal tax refund. However, if you do both, you calculate both options, you can choose the filing option that guarantees you the best tax refund status. If you only calculate the standard deduction, you’ll never know.

5. Don’t Change Your Bank Info
You may laugh, but this has happened before. Some taxpayers will fill out their tax return and calculate their federal tax refund status only to close their bank account or change banks entirely before they receive the funds. Their direct deposit can’t go into the account if it’s changed or closed.

If you have any changes to make to your bank account, do them before you file and calculate your refund status. That way the info you enter on the form is the most up to date and your direct deposit will make its way into your pocket.

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