Accountants Predict Severe Tax Refund Delays in 2017 but There's a Caveat


Posted November 3, 2016 by bwcopy

Lawmakers, accountants, tax prep companies, and CPAs predict serious tax refund delays in 2017. However, you don't have to put yourself at the mercy of the IRS. Here's how to avoid the long delays.

 
Looking for extra spending money can be draining; this is especially the case when resources are scarce. For most working Americans financial relief comes at tax time in the form of tax refunds. Indeed, over the years tax preparation season has become something of a ritual. Year after year millions of Americans have relied on tax time to help them get ahead. If you encountered financial difficulties, you could always count on getting your refund check mid to late January.

However, for the first time since many have been filing taxes, things will be different. Lawmakers, accountants, and tax makers are predicting severe delays as a result of the passage of PATH Act of 2015.

Fortunately, if you prepare yourself now, you may be able to avoid the 4 to 6-week delays that many project for 2017. Here's what you need to know.

1. Choose a Tax Preparation Specialist Early On. The first item to bear in mind is that accountants are highly trained professionals. As such, it's highly recommended that you seek the assistance of a qualified accountant at tax time rather than trying to do your taxes yourself.

And remember, accountants are busy people. They handle financial records for multiple clients, and you could easily be the last person to set an appointment with them. As such, you could seek out the services of a good CPA and still experience delays in receiving your refund.

So if you're planning to hire an accountant do it as early as possible if so that you can expedite the process. Even if you pay attention to nothing else in this article, seeking the services of a tax preparation provider as soon as you get your W-2s will be of immense help.

2. Compile All of Your Tax Information. After you have set your appointment, ensure that you have all the information needed. Compile all your receipts during the year in one place where you could easily find them. Placing them inside an envelope could be ideal. It is called e-filing. IRS is making use of this advancement to give you a rapid tax refund.

3. Accurately Calculate Your Receipts. Organized documents would save you all the hassles and cramming. Choose a direct deposit by providing your routing number and account number so that they can deposit money in your account. Doing this saves time as you.

4. Double Check Your Return for Errors. Calculate all your receipts and make sure your returns are collect. Sum them all up according to their category. Label and pile them neatly.

Following these simple steps should all but ensure that your tax advance refund is mailed to you or deposited into your bank account within a matter of few weeks by using a reputable provider such as IRS.

There are other options for a rapid tax refund. Finding one as early as now will give you the luxury of receiving your refund as soon as possible. All of us need extra money to support our finances. So what are you waiting for? Find an accountant today, and you'll be one step closer to getting your refund in a timely fashion.

About ASH CPA Firm

Ash CPA Firm is a full-service CPA, accounting, and tax preparation service provider based in Framingham, Massachusetts. The accounting firm assists businesses and individuals with a wide range of services including tax preparation, financial planning, financial statement preparation, and more. To learn more about Ash CPA Firm call (617) 462-6651 or visit www.ashcpa.com.
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Contact Email [email protected]
Issued By George Gergis
Website Ash CPA Firm
Phone (617) 462-6651
Business Address 945 Concord Street #100
Framingham, MA 01701
Country United States
Categories Accounting , Finance , Services
Tags accounting , cpa , tax preparation
Last Updated November 3, 2016