After filing a tax return, it is normal for taxpayers in the United States to look forward to the IRS tax refund. For some of these citizens, this tax refund can be a payment of extra money to help pay the month’s bills, in addition to other expenses.
Therefore, being able to know the best method to receive the IRS tax refund is essential if we really need to receive this check with the tax money soon. The IRS office itself has announced that Direct Deposit is the best method of all.
And it is not only the fastest, but also the most secure. Therefore, this is the most effective IRS money collection method of all. Having the tax refund dollars in your pocket much sooner is possible if you apply to the IRS for payment through Direct Deposit.
Why is Direct Deposit the best method to receive IRS tax refund money?
After our tax return is filed with the IRS, the tax refund process begins. When the IRS accepts the money they have to refund us, we will have to wait about a month to receive it. The estimated time is usually 21 days, but sometimes it can take longer.
However, we also run into another problem. When the IRS sends by snail mail the checks with the amount of the tax refund, they can get lost. It is not common for them to get lost, but it is true that some problems may occur along the way. With Direct Deposit this is solved and we will not have to worry about our check not arriving to our mailbox.
Besides that, it is worth noting that Direct Deposit is not a free method to receive the IRS tax refund, but almost. It barely has a small fee that is still less than the fee we have to pay when cashing the physical cheque at a bank.
All in all, if we consider security and speed, Direct Deposit is unrivaled for receiving IRS tax refund money. We can still receive physical checks in our mailbox via snail mail, but it is very possible that this will no longer be done in the future. So it is best to be prepared as soon as possible to quickly and securely collect any payments not only from the IRS but also from Social Security.