Americans all around the country are presently preparing their tax forms for submission to the Internal Revenue Service.
The Internal Revenue Service began taking returns on January 24, 2022.
Generally speaking, if your overall objective is to have your tax return in your hands as quickly as possible, there is one thing you can do to assist in making that happen.
How to collect your tax return from the IRS in as little as three weeks (with examples).
When it comes to filing your tax returns, the IRS encourages you to use electronic filings.
Many people are unable or unwilling to file electronically for a variety of reasons.
That is entirely up to you, but if you want to get your money within the 21-day deadline specified by the IRS, you will need to file electronically.
Because the IRS processes returns through software, electronic filing is also significantly faster than paper filing.
The Internal Revenue Service (IRS) and paper tax returns
If you opt to file your tax return on paper, you should be advised that the Internal Revenue Service (IRS) only has a limited number of personnel that can manually process these tax returns at this time.
Read More: After Filing Taxes, Millions to Get a Refund Of $125
On top of that, their workload has increased, which has resulted in an even greater slowdown in their processing time.
According to Marca, the number of IRS personnel has remained constant since 1970, despite the fact that the population has increased by 60% since then.
The majority of people are opting to file electronically now in order to have their returns completed more quickly.
Manually completed tax returns account for around 10 million returns, or 7 percent of all returns.
The remaining 93 percent, or 138 million, are electronic tax returns, according to the IRS.
Direct deposit is the best option.
Approximately $95 million dollars was distributed to taxpayers last year, with $87 million of that amount being distributed by direct deposit.
You will receive your money more quickly if you use this approach.
As an added bonus, it removes the possibility of your tax refund getting misplaced in the mail.
If your tax return is completely accurate, you e-file it, and you choose direct deposit, you should receive your refund within three weeks after filing.
