IRS Announces New Feature to Get Some Tax Refunds Faster
The Internal Revenue Service (IRS) has announced a new feature that will let millions of taxpayers get their tax refund money faster.
For the first time, people who electronically file their Form 1040-X (Amended U.S Individual Income Tax Return) will have the option to receive their refund through direct deposit, instead of waiting for a paper check.
With approximately 3 million amended returns filed each year, this update will reduce processing time for amended returns and increase convenience for taxpayers, the IRS says.
“This important update will cut refund time and reduce inconvenience for people who file amended returns,” IRS Acting Commissioner Doug O’Donnell said in a statement….