Are you expecting a tax refund from the IRS this year? If you file a paper tax return, your refund should be issued in about six to eight weeks from the date on which the IRS receives it. If you file electronically, expect your refund in about half that time and, even faster if you choose direct deposit instead of a check by mail.
Direct deposit is available for both paper and electronic returns. If you prepare a paper return, fill in the direct deposit information in the “Refund” section of the tax form. Make sure that your bank or financial routing and account numbers are accurate as incorrect numbers can cause your refund to be misdirected or delayed.
A few words of caution: some banks and financial institutions do not allow deposit of a joint refund into an individual account so check to make sure that your direct deposit will be accepted. Also, you may not receive your refund as quickly as expected. A refund can be delayed for various reasons such as a name and Social Security number on the tax return not matching IRS records, a missing signature or attachment, or mathematical errors which require extra time for the IRS to correct.