The tax season has begun. Millions of Americans have already submitted their 2021 tax returns status, and many are impatiently awaiting their IRS refunds about a month before the deadline.
Generally, the earlier you file, the quicker you will receive your tax refund. The IRS typically issues most refunds within 21 days, so turnaround times are often short. This tax season, the IRS has already delivered almost 38 million refunds totaling $130 billion.
But this year is particularly challenging. Demand for refunds is solid due to record-breaking inflation. American citizens wait for thousands of dollars to arrive as average refunds reach $3,400.
The IRS says it is still processing millions of 2020 tax returns despite a significant backlog, primarily because of incomplete or inaccurate information. Refunds from the previous year are still pending for specific consumers.
Major tax adjustments brought about by the pandemic policy may result in significant refund delays this tax season, mainly when collecting the recovery rebate credit and the residual child tax credit.
According to the organization, receiving your return if you’re claiming these tax credits would take longer than 21 days (and most likely between 90 and 120 days). Information that is inaccurate or lacking will result in more delays.
Key Takeaways
- How long does it take to get your tax refund?
- How long does the IRS typically take to authorize a refund?
- How to track your tax refund
- How long your tax refund will take
- How to use the IRS Where’s My Refund tracking tool
- Answers to some of the most frequently asked questions
How Long Does It Take To Get Your Tax Refund?
You might wonder when you’ll get your tax return, which many Americans anticipate each year to aid them with critical financial decisions. Several variables, including when and how you submit your tax return, may impact the time it takes to get your tax refund.
According to the IRS, filing an accurate tax return electronically using e-file software and choosing to get your Refund by direct deposit are the best ways to prevent delays with your tax refund. Most filers who choose this technique ought to get their refunds within 21 days after electronically submitting their returns.
When the IRS receives your return, if you send it, you should anticipate receiving your Refund in six to eight weeks. You can choose to have your Refund as a check in the mail, but bear in mind that owing to transit time; you’ll probably get It will arrive days to some weeks later than with direct deposit.
The sooner you file your taxes, whether online or on paper, the sooner you’ll receive a refund since the IRS opens and processes all returns in the order they are received.
How Long Does The IRS Typically Take To Authorize A Refund?
According to the IRS, most returns are reviewed and approved within a few days of being submitted, and most refunds are sent out in less than 21 days.
There might be several causes for the delay if you submitted your return weeks ago but haven’t yet gotten it. Simple math mistakes, incomplete or erroneous information, missing signatures, and missing attachments are the most frequent reasons for tax refund delays.
Tax returns with faults involving the third stimulus check, which was given in early 2021, returns with missing information, returns marked as potentially fraudulent, and returns with issues involving the third stimulus, all checks may be postponed for up to 90 to 120 days.
Even if their forms were correctly submitted, Refunds for taxpayers who claim the earned income tax credit (EITC) or the child tax credit (CTC) might still be delayed.
Because of rules intended to allow the IRS time to deal with false returns, claiming these credits will delay the processing of your return. Even if you submitted your tax return before January 24, when the IRS started processing returns, you could not get your Refund until the beginning of March.
How To Track Your Tax Refund
You may check with the IRS for refund updates after you e-file your return or mail it. How? Read on.
1. On the IRS Website, Check Your Tax Refund Status.
Use the Where’s My Refund? The tool is on the IRS website. On a computer, tablet, or smartphone, use this tool to check your Refund update.
You must click the “Check My Refund Status” option, then follow the on-screen instructions to enter your Social Security number, tax filing status, and precise refund amount to see your update. You ought to be able to view the progress of your Refund right away if you input the data accurately.
Remember that your refund status will not be displayed until at least 24 hours have elapsed since you e-filed or four weeks since you sent your return.
Additionally, if you’ve created an IRS account, you may obtain your tax and account transcripts online to receive more tax data on yourself.
Although your account transcript does contain a history of any recent IRS activity, some claim this is a hack to figure out when you’ll get your tax return. However, the IRS claims the Where’s My Refund? The tool is your best choice because it’s updated daily.
2. Check Your Refund Status On The IRS2Go App.
You may check the status of your tax refund using the IRS2Go app, which is accessible on the Amazon Appstore, Apple’s App Store, and Google Play store, if it’s more convenient than visiting the website.
Although there are other applications for the IRS app outside checking your return status, if that is all you need to do, choose the refund option and fill out your data.
You must enter your Social Security number, filing status, and return amount, just like on the website. After that, click submit to view the status of your Refund.
Once more, check to ensure it has been at least 24 hours or four weeks after you sent or electronically filed your return.
In addition to those added capabilities, you may use the IRS2Go app to settle your tax debt, get tax advice, and find nearby on-site tax assistance.
3. Directly Contact The IRS
Calling the IRS for general status updates on your tax refund is usually not a good idea. As a result of its contact center’s severe backlog, you might have to wait a while. Even if you manage to get through, the person you speak with could be an AI-powered robot rather than a person.
The IRS advises phoning the agency only if you haven’t gotten your Refund after 21 days from the day you filed your return electronically or if one of the other options for tracking your tax refund directs you to do so.
You usually won’t need to call the IRS unless there is a problem with your return; in that instance, the IRS will probably get in touch with you first.
How Long Your Tax Refund Will Take
You may anticipate receiving your Refund within 21 days if you e-filed your tax return and did not claim any pandemic-related tax credits. Within 24 hours, you may check the status of your tax refund on the IRS website or app.
Sit down, though, if you sent your return via mail. Before being able to monitor your status, several weeks will pass. It may also take up to 120 days to get a refund for complex, erroneous, or incomplete forms, particularly for those who claim pandemic-related tax credits.
File as soon as possible to begin the process. Also, remember that most individuals must file their taxes by April 18 this year.
How To Use The IRS Where’s My Refund Tracking Tool
You’ll need to enter some personal data to use the IRS tracker tools to check the status of your 2021 income tax refund, containing your Social Security or Individual Taxpayer Identification Number filing status. Your refund amount is in whole dollars, as shown on your tax return. Wait at least 24 hours before starting the refund tracking process.
Please enter your personal information on the IRS website’s Where’s My Refund page, then click the Submit button. You will receive a page showing your refund status if your information is inputted accurately.
If you don’t, you could be requested to retry after verifying your tax data. If everything seems proper, You must provide the date your taxes were submitted and whether you did so electronically or on paper.
You’ll need to log into your IRS online account if you’re seeking return information from previous years. Where’s my Refund only gives information on the most recent tax refund that the IRS has on file within the previous two years.
Your personalized account will allow you to view your total debt, payment history, essential data from your most recent tax return, IRS notifications, and your registered address.
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Conclusion
The deadline to file your return is April 18. The 2023 tax filing season, during which returns for the 2021 tax year are processed, started on January 24.
Filing your tax return is the first step in receiving your refund. You’ll need proof of identity, a W-2 from your work, or other earnings records like 1099 papers.
You must decide whether to submit separate or combined returns if you are married. You must also choose whether you will take your return to a preparer or submit it using tax filing software.
The IRS will analyze your return after you file it and decide whether to accept it or reject it. You should get your refund in a few weeks if your return is accepted and you are entitled to one. The IRS will inform you if your return is denied and provide more instructions on how to amend it.
Taxpayers around the nation are started receiving and processing refunds for the 2021 tax year. The IRS reports that as of February 4, more than 4 million refunds have been sent out.
FAQS
Is IRS Still Processing Tax Returns?
According to the processing status, as of October 15, 2023, they have 1.2 million unprocessed Forms 1040-X, Amended Individual Tax Returns. The present processing period for these returns can take up to 20 weeks, and they are doing so in the order they are received.
Why Is My IRS 2020 Refund Taking So Long?
The processing of your tax return might take up to 6 months if you submitted on paper. See Status of Operations for information on service delays. The IRS processes more than nine out of 10 refunds within 21 days. But your tax return may probably need more scrutiny and take longer.
Why Is My Refund Still Processing?
Your tax return may be put on hold if the IRS has to fix any errors or obtain more information from you before it can move on with processing it if the status of your tax return is “Still Being Processed.” The IRS will only make tax returns available when they feel like it.
When Can I Expect My Refund In 2023?
Overall, if a person chooses direct deposit and there are no problems with their tax return, the IRS predicts that they will typically get their refund within 21 days of filing their tax return online. The IRS encourages electronic filing from both taxpayers and tax experts.
What Date Will The IRS Start Issuing Refunds In 2023?
The IRS will begin receiving tax returns on January 24, 2023. * = The IRS may postpone the start of tax season by about a week.
Is IRS Delaying Refunds In 2023?
If, after 21 days, you still haven’t received your refund, your tax return could require more scrutiny. If your return was inaccurate or incomplete, this could occur
Is The IRS Behind On 2023 Tax Returns?
The backlog above will make it challenging for the IRS to efficiently complete work on tax refunds for 2023. However, the Treasury is still optimistic that most Americans should get their refunds within 21 days of filing, with a few exceptions.
You can learn more from the video below:
About Author
- I am a professional article and e-book writer with 4 years of experience, I write on well research content on cryptocurrency, stocks, loans and finances.
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