Why Is My Tax Return Taking So Long? (Top Reasons)
Waiting for that tax refund can feel like watching paint dry, right? You’re not alone. Tons of people wonder why their tax return is taking so long. We’ll break down the most common reasons and show you how to speed things up.
Here’s the lowdown:
- Common causes for tax return delays
- Simple ways to track your return
- Pro tips for filing next year (and avoiding these headaches)
Need help with your taxes? NRK Accounting has a team of expert accountants who can answer all your questions and make tax season a breeze.
Common Reasons for Tax Return Delays
A lot of things can slow down your tax return. Here are some of the usual suspects:
- Mistakes happen: Even a tiny error on your tax return (like a wrong Social Insurance Number) can cause a delay. The Canada Revenue Agency (CRA) needs to sort those out before they can process your return.
- Missing info? If you forgot to include certain forms or documents, the CRA might need to contact you for more information. This can add weeks to the processing time.
- You’re being audited. If the CRA flags your return for an audit, it’ll definitely take longer to process. This can happen if your return seems unusual or if they need to verify certain deductions.
- You filed on paper. Let’s face it, paper filing is sooo old school. It takes the CRA much longer to process paper returns than electronic ones.
- Your return is complex. If you have a lot of investments or you’re self-employed, your return might need extra review time.
- The CRA is just swamped. Tax season is a crazy busy time for the CRA. Sometimes, delays happen simply because they have a mountain of returns to process.
Don’t worry, though. Most of these delays are easily avoidable. We’ll share some tips later on to help you get your refund faster next year.
Where’s My Money? Simple Ways to Track Your Return
You’ve filed your taxes, and now you’re playing the waiting game. (We’ve all been there.) Luckily, the CRA has a couple of easy ways to track your return’s status:
- Online: Use the CRA’s online portal, “My Account.” You’ll need to create an account if you don’t have one already. Once you’re logged in, you can check your return status, view your Notice of Assessment, and even update your personal info.
- By phone: Give the CRA a call at 1-800-959-8281. (Just be prepared for a potential wait time.) You’ll need your Social Insurance Number and date of birth handy.
If you filed your return electronically, you can usually expect to see your refund within two weeks. Paper filers, however, might have to wait eight weeks or more.
Need help navigating the CRA website or deciphering your tax return? NRK Accounting can help you track your refund and explain everything in plain English. We’re basically like your tax superheroes.
Level Up Your Tax Game: Pro Tips for Next Year
Want to avoid the tax-time stress next year? (Who doesn’t?) Follow these pro tips, and you’ll be on your way to a smoother, faster refund:
- File online. Seriously, ditch the paper. Using tax software or NETFILE-certified tax preparers like NRK Accounting is the fastest and most secure way to file. Plus, these programs often catch errors before you submit, saving you from delays later.
- Double-check everything. Before you hit that submit button, review your return carefully. Make sure all your information is accurate, and you haven’t missed any forms.
- Keep your records organized. Throughout the year, keep track of all your tax documents (like T4s and receipts). This will make tax time way less stressful.
- Sign up for direct deposit. Get your refund deposited straight into your bank account. It’s faster and more secure than waiting for a check in the mail.
- File on time (or even early). The tax deadline in Canada is April 30th each year. Filing early can help you avoid those last-minute headaches (and potentially get your refund sooner).
- Consider getting help. If your taxes are complicated or you’re just not sure what you’re doing, don’t be afraid to ask for help. A qualified tax professional like those at NRK Accounting can save you time, money, and a whole lot of stress.
Remember that time you spent hours searching for that one missing receipt? Yeah, let’s not do that again. With a little planning and organization, tax season can be a breeze.
Want to File Your Tax Returns in Time? Let’s Us Help
No more endless waiting or wondering where your refund went. With a little planning and these pro tips, you’ll be a tax-time pro in no time.
Here’s a quick recap:
- Delays happen, but you can often avoid them.
- Track your return online or by phone.
- File online, double-check everything, and keep your records organized.
Need a helping hand with your taxes? NRK Accounting can take the stress out of tax season and help you get your refund faster. Reach out today for a free consultation.