When you are hoping for the tax refunds, the last thing which you have to do is to wait for it. Luckily, the processing speed of the procedure has been increased remarkably in past few years, specifically after the introduction of the IRS electronic filing or e-filing system.
Most of the times, tax return takes three weeks for processing, even some filers get the refund earlier than this. Nowadays, most of the delays occur basically due to some errors or the oversights done during the filing process.
Here are the main causes why the tax return takes so long
An incomplete tax return filing
A common problem which causes the delay in the process of tax refunds is the incomplete form filing or missing information. Those filers who fail to provide the basic information, suffer from long processing time.
Computational errors related to tax return
The tax code of US is complicated due to numerous exceptions, deductions, exemptions, and credits. And it is no wonder that the returns done with human hand include the math errors. Most of them are calculation errors such as those related to the tax amount of social security income, tax incomes, and the dependent care credit. Many online websites provide help in calculating the correct tax amounts for you. You can avoid these errors by using the online help. One of them is www.taxreutrn247.com.au.
The accounting software is used online on these websites which generate the required calculations automatically and can help you in getting the results quicker. The services are available 24/7 at affordable rates and check the process for you before you file the case.
Social Security Number (SSN) mismatch
For authenticating your tax return information by IRS, the social security number is checked, and the information provided by you is compared with that which is included in the database of social security system. Any mismatch will result in the delay of the retrieval of tax refunds.
The e-filing method checks the errors for you, including the SSN mismatch. Your application is passed through the e-file software online, and if there is any mismatch, the application gets rejected and sent back to you for corrections before you resubmit the file.
Filing a tax return late
Filing for the refund at the last hour can delay the process, particularly if are following the manual paper method because of the large mass of files already there. You may fall victim to the frauds where someone can use your SSN and file a fake return.
That’s why it is better to use the online tax returns services and do this in time, at least week before the deadline. IRS checks the SSN with which you are filing and then verifies if this is use more than one time. The process may get delayed or gets terminated if the filing is done with the SSN that has already been used.