Whether you file your income tax return before April 15 or after, Rapid Tax & Insurance is open all year long to help you get the largest refund possible.

When you file your taxes, it’s best to file electronically. This is called e-filing. It is done using computer software, and it is the standard procedure when you come to an accountant or a tax preparation business like ours.

Filing electronically will help to speed up the time it takes the IRS to review your taxes and send out your refund. You can begin prepping to file your taxes at the end of the year.

There are several different options available when it comes to receiving your tax refund. You may be wondering which option is best for you. Rapid Tax & Insurance will discuss the various options with you and help you decide.

Ways to Receive your Refund:

• Check
• Direct Deposit
• Refund Anticipation Loan
• IRS Credit
• U.S. Savings Bonds

Have you ever vowed to save some of your tax returns, but you’ve ended up not keeping that promise to yourself?

If you’ll be getting a large refund, you should have a spending plan for your refund so that you can make the most of this extra money. Without a plan, it’s easy to see the money disappear much faster than you had anticipated.

Did you know that your tax refund may be split into as many as four different deposits? This is a great way to make sure some of your refund goes into an investment or savings account.

Some of the deposit options include a checking account, a savings account, or an IRA (Individual Retirement Account). You can even use up to $5,000 in tax refund money to purchase US savings bonds.

The option to deposit your tax refund directly into multiple accounts was prompted by the increasing popularity of direct deposit. The direct depositing of tax refunds was introduced by the IRS in 1987, and it has become one of the Internal Revenue Service's most well-liked features.

If you want to divide your refund into multiple accounts or purchase savings bonds, you'll need to complete Form 8888, Allocation of Refund, when submitting your individual return. This form, if needed, will be included at no additional cost when we prepare your tax return.

You can get more information at Rapid Tax and Insurance