Waiting on your Tax refund? These 5 costly mistakes could be the reason

Tax refunds can bring a big amount of money back to taxpayers, especially during tax season. But if your tax return has mistakes, your refund can take much longer to arrive. Experts say people who want to receive their refund quickly should carefully check their tax return before sending it. Even small errors in the form can slow down the process at the Internal Revenue Service. The first common mistake is not filing the tax return electronically. Filing online is usually much faster than sending paper forms by mail.

The IRS says an electronically filed return normally takes about 21 days to process, while a paper return can take up to six weeks, according to the report by GOBankingRates. Filing electronically and choosing direct deposit can also protect taxpayers from fraud risks, said Joseph Perry. Perry explained that even government checks can sometimes be fraudulently cashed if they are lost or stolen, which can delay the refund even more.

Name and Social Security match

The second mistake is a name that does not match the Social Security number on the tax return. If someone changed their name but did not update it with the Social Security Administration, the information on the tax return may not match government records, Perry explained. This rule also applies to dependents. If a taxpayer had a child during the tax year, they should double-check the child’s Social Security number with the number on the official Social Security card, according to Perry.


The third mistake that can slow refunds is calculation errors in the tax return. If numbers on the tax return are wrong, the IRS must correct the mistake before sending the refund, said Lisa Greene-Lewis. Greene-Lewis said that when the IRS finds a calculation mistake, it adjusts the refund amount and sends a letter explaining the change, as stated by GOBankingRates.

Same dependent claimed twice

The fourth problem happens when two people claim the same dependent on their tax returns. Greene-Lewis explained that only one person can claim a dependent and receive related tax benefits such as deductions or credits. She also said parents who are not together should decide in advance who will claim the child on their tax return to avoid problems. If both people try to claim the same dependent, one of the tax returns will be rejected, according to Greene-Lewis.

The fifth mistake is incorrectly claiming a deduction or tax credit. Claiming a credit or deduction that someone is not eligible for can slow down the refund process because the IRS may need extra documents or explanations, Greene-Lewis said. Experts say taxpayers should always check if they qualify for a deduction or credit and make sure they provide all the required information. Taking a few extra minutes to carefully review the tax return before filing can help avoid delays and help the refund arrive faster, according to tax experts cited by GOBankingRates.

FAQs

Q1. Why is my tax refund taking so long to arrive?

Your tax refund may be delayed if there are mistakes in your tax return, such as wrong calculations, name and Social Security mismatch, or claiming the same dependent as someone else.

Q2. Does filing taxes online make refunds faster?

Yes, the Internal Revenue Service says e-filed tax returns are usually processed in about 21 days, while paper returns can take up to six weeks.