How to Simplify Tax Filing and Get Your Return Faster
Tax season 2023 is in full swing. If you haven’t filed your taxes yet, there are a few things you can do to simplify the process and potentially even get your return faster. A shorter wait time may be of significant value to you, especially if you already have the funds set aside for something important, like paying off debt or padding an emergency fund.
3 tips for tax season 2023
1. Get organized
Make sure you have all your W-2s or other earnings information, like 1099s, before filing. In doing so, you can ensure you’re reporting all of your income to the IRS, which will help you avoid having to file an amended return later on.
2. File electronically
Typically, the IRS takes longer to process paper returns compared to electronic returns. Not only this, but you can check the status of an electronic return within 24 hours of filing. The status of paper returns can’t be checked until a whole four weeks have passed.
3. Set up direct deposit
Why wait for your tax refund to arrive by mail when you could potentially get it faster by setting up direct deposit? All you’ll have to do is supply your financial institution’s routing number and your account number when prompted to do so by the tax software you’re using to file.
Did you know you could potentially get ACH payments, like your tax return, up to two days early?1 Make it happen by setting up direct deposit to your General Electric Credit Union (GECU) checking account during tax filing. Early Pay is just one more way we make checking better.
If you’re a GECU member who could use some additional guidance, look to TurboTax® Online™ and save up to $15 on the #1 best-selling tax filing software.2 They’ll double-check numbers for accuracy and give you access to 24/7 support and tax calculators so you can feel confident in your return. Then, set up direct deposit to your GECU checking account to potentially get your refund faster – up to two days early – thanks to Early Pay!1