Top Reasons your Tax Refund could be Delayed

Waiting for a tax refund can be such a rewarding feeling for any individual. However, there are times when you will experience delays which can be quite disheartening.

Are you experiencing a tax refund delay and you don’t know why? If the answer is “yes” then you should know that perhaps the following are some of the top reasons as to why you are experiencing a tax refund delay and you need to fix them before you can receive your tax refund.

Computer errors on the tax return form

One of the main reasons why you might be experiencing a tax refund delay is the fact that there could be computation errors on your entry. A manually prepared tax return entry is more likely to contain errors due to the complex and numerous entries that one has to make when filing their tax refund.

Most of the common errors involve calculations such as the taxable income, social security income, child and dependent care credit. These kind of calculations often involve complex formulas used and the various deductions made.

 Filing an incomplete tax return

Another factor that can cause a delay for a tax refund is the incomplete or missing information on your tax return. If you excluded important information such as your Social Security number or the number of dependents, then this will cause a delay in your refund.

Failure to attach copies of your W-2 is also another major cause as to why you could be experiencing a tax refund delay.

Submitting a wrong Social Security Number (SSN)

Your Social Security Number (SSN) is essential in the process of verifying your tax return information which is why it is important for you to make sure that you have submitted the right Social Security Number (SSN).

The IRS will use your SSN and name combination to verify your tax return before you can receive a tax refund. It is therefore advisable for you to cross- check your SSN before submission just to make sure it is the correct one.

Incorrect bank details

One of the fastest ways for you to receive a tax refund is by requesting a direct deposit to be made to you through your local bank. Any simple mistake in the account number or account information will prolong receipt of your tax refund. It is therefore advisable for you to cross-check your e-file before submission just to make sure that everything is in order.

Making changes on your tax return

Making amendments to your tax return will definitely cause a delay. This can delay receipt of your tax refund by about 12 weeks. This also means that processing the amended tax return will take a much longer time since the whole verification process has to be done afresh.

Tips and advice

• Prepare your tax return at least two months before the submission date and cross-check the information for any errors

• Ask an expert to show you how to file a tax return if you don’t want to experience any delay

• Keep all your tax documents in order in order to avoid the loss of the documents etc

• Always file your tax returns in good time any delays in filing the returns will result into a delay