Most people who file a tax return walk away with a refund. Although you may feel like you’ve won the lottery, a tax refund isn\u2019t free money from the government. It\u2019s actually your own money you\u2019re getting back from Uncle Sam. During the year federal and state taxes are withheld from your pay. If the amount that was withheld is more than your tax liability, you\u2019ll receive the overage as a tax refund when you file your tax return. Here are some other things you need to know about tax refunds.<\/p>\r\n\r\n\r\n\r\n
Do you prefer to get more money per paycheck or a bigger tax refund?\u00a0 Just know that if you choose the latter, you\u2019re giving Uncle Sam an interest-free loan.\u00a0 We\u2019re not here to judge you though.\u00a0 If you owed the IRS this year or received a smaller refund than anticipated, now is a good time to adjust your withholding.\u00a0 Generally, claiming fewer allowances on your W-4<\/a> will increase the amount of taxes withheld from your pay.\u00a0 The result will be a smaller paycheck during the year, but a better refund at tax time.\u00a0 We suggest using a tax withholding calculator to decide what’s best for you.<\/p>\r\n\r\n\r\n\r\n Crooks will do anything to get their hands on your money.\u00a0 Whether it\u2019s making phony calls impersonating the IRS or sending phishing emails.\u00a0 Some even steal your personal information to file a fraudulent tax return and claim your refund.\u00a0 You may not even realize there\u2019s an issue until you try to file your return and it gets rejected.\u00a0 Although the problem can be resolved, it won\u2019t happen overnight.\u00a0 Filing early can prevent your refund from landing in the wrong hands.\u00a0<\/p>\r\n\r\n\r\n\r\n Claiming every tax credit and deduction you\u2019re eligible for minimizes your tax liability and can help you get a bigger refund. Some valuable tax credits you don\u2019t want to miss are the Earned Income Tax Credit (EITC), Child Tax Credit, and the Saver’s Credit.\u00a0 We can help you maximize your tax breaks, so you get the biggest possible refund. Start now!<\/a><\/p>\r\n\r\n\r\n\r\n Without a shadow of doubt, the fastest way to get your refund is to e-file and choose direct deposit.\u00a0 With ezTaxReturn<\/a> you can prepare and e-file your return in just 30 minutes. Most refunds are issued within 21 days of IRS acceptance.\u00a0 Filing on paper takes weeks longer for your return to be processed.\u00a0 Another perk of choosing direct deposit is that you can split your refund in up to three accounts.\u00a0 Since being a good saver isn\u2019t everyone\u2019s forte, having a portion of your refund deposited directly into your savings can make life easier.\u00a0 The rest of the money can be allocated towards something more fun.<\/p>\r\n\r\n\r\n\r\nFiling early minimizes the risk of identity theft<\/strong><\/h2>\r\n\r\n\r\n\r\n
Take advantage of available tax breaks<\/strong><\/h2>\r\n\r\n\r\n\r\n
Direct deposit is the fastest way to get your money<\/strong><\/h2>\r\n\r\n\r\n\r\n