There are several different options available when it comes to receiving your tax refund. You may be wondering which option is best for you. When you file your taxes, you should file electronically. This is called e-filing. You can expect your return to be timely and securely e-filed when you engage our services.
Ways to Receive your Refund
- By Check
- Direct Deposit into personal bank account or individual retirement account
- IRS credit
- U.S. savings bonds
Not only will direct deposit help to speed up the time it takes the IRS to review your taxes and send out your refund, it is a safer way to receive your money with the increase in identity theft.
The IRS allows your refund to be directly deposited into up to four accounts. This can be a standard checking or savings account or an individual retirement account. You can also use up to $5,000 in your tax refund money to purchase U.S. savings bonds.
While many enjoy receiving a refund, remember that a refund is the IRS holding onto your money, interest-free for the year. Many clients would like to have this extra money during the year in their paychecks. If that is the case, we can assist you in ensuring you are withholding the correct amount of income tax throughout the year, as well as assist you with tax planning for the next year.
You can get more information at (203) 296-0391