Retirement fundsare a prime way to save money on taxes. “Some of the best ways people can maximize their refund is to contribute to pre-tax accounts,” Chavis says. While it is too late to contribute to your workplace 401(k) to save on your 2023 tax bill, you can still fund ...
You can track your refund yourself The good news is, if you're antsy to get your refund, it's easy to track your return and refund status. You'll just need to visit the IRS' "Where's my refund" tool. You will need to enter your Social Security Number, your filing status, and th...
Avoiding penalties and interest: Underestimating taxes can lead to penalties and interest charges. If you don’t pay the required amount of taxes on time, the IRS or tax authorities may impose penalties and interest on the outstanding balance. Accurate tax estimation helps you avoid these costly ...
Your tax refund can help you pay for simple repairs or maintenance that may keep you safe, prevent severe issues down the road, increase fuel efficiency and extend the life of your vehicle. Research all of your options to help you make the best choice for your tax refund. If you’re ...
Your refund may also be used to pay outstanding debts —including past-due federal or state taxes, child support or even federal student loans. If you dispute the IRS's findings, you can contest the extra tax you've been assessed or file an amended return correcting any errors. ...
Within one or two days, the IRS should notify you that your return has been accepted. Assuming all your details match their records, you'll move straight onto the IRS payment timetable. The question "how long does it take to get my tax refund?" typically has a happy answe...
Don't pay a cent for Refund Advance No loan fees No credit score impact No interest How to get Refund Advance instantly* Choose Refund Advance as your refund option When you’re ready to file, select Refund Advance and apply for it in a few easy steps. Open a checking account with Cred...
If so, the interest payments may cause you to pay more than you borrowed in the first place. This is especially true if you have a high interest rate. That’s why if you use your tax refund money to pay down your credit card debt, you may be able to save money. Use the Discover...
While there are several ways to increase your tax refund, there's one all experts agree you should avoid: Adjusting your W-4 to pay more taxes on each paycheck. This would result in a bigger refund come tax season, but "you won't have that money to live on during the year," Johnsto...
Paying off debt can be a great way to use your tax refund. But first, weigh other financial priorities, like emergency savings, and the goals that matter most to you.