IRS offers an estimate. Most refunds to qualified federal taxpayers should go out within 21 days of filing the return, the Internal Revenue Service said Monday.5
- The IRS says it could take upwards of 120 days to process tax returns once they have all the information they need. The same can be said for those filing this week via extension. Typically, it takes around 21 days to process.
How long is it taking the IRS to process tax returns?
IRS Commissioner Chuck Rettig told reporters on Monday that most people who file an error-free 2021 tax return online and request a direct deposit will receive their refund within 21 days. 5
Why is my tax return still being processed 2020?
He said the IRS is still processing $9.8 million tax returns from 2020. The delays are mostly due to errors in filing, some having to do with the economic stimulus payments. 5
Why is the IRS taking so long to process my taxes?
What’s Taking So Long? If you don’t receive your refund in 21 days, your tax return might need further review. This may happen if your return was incomplete or incorrect. The IRS may send you instructions through the mail if it needs additional information in order to process your return.
What does it mean when the IRS says your tax return has been received and is being processed?
This means the IRS has processed your return and has approved your refund. The IRS is now preparing to send your refund to your bank or directly to you in the mail if you requested a paper check.
How soon will tax refunds be issued 2022?
Although the IRS says most refunds will be sent within 21 days, experts warn that delays are likely, noting that the agency is still working through 2020 tax returns. 2
Are IRS refunds delayed 2020?
If a taxpayer files a return on April 15 in Year 1, the IRS generally may issue a refund until April 15 in Year 4. In 2020, the IRS postponed the filing deadline for tax year 2019 tax returns from April 15 to July 15 due to the COVID-19 pandemic.
How do I know if IRS received my tax return?
Find out if Your Tax Return Was Submitted
- Using the IRS Where’s My Refund tool.
- Viewing your IRS account information.
- Calling the IRS at 1-800-829-1040 (Wait times to speak to a representative may be long.)
- Looking for emails or status updates from your e-filing website or software.
Why is my tax refund still being processed after 21 days?
The IRS will issue most refunds in less than 21 calendar days. This could mean that all of the necessary forms were not sent to the IRS for processing. Your return has been flagged for identity theft or fraud.
Does being processed mean accepted?
It simply means that your e-filed return is being processed and that the government hasn’t approved it yet. The general timeline of e-filed returns is: Transmission > Receipt/Acceptance > Processing > Approval > Refund.
Tax Season Refund Frequently Asked Questions
The information you supplied in response to the questions you answered is used to draw conclusions. Within the sense of section 6404(f) of the Internal Revenue Code, answers do not constitute written counsel in response to a particular written request of the taxpayer, unless the taxpayer specifically requests it. Completed in 12 minutes, according to the estimate Attention: If you do not log out within 15 minutes, you will be forced to start anew. Caution: Using the “Back” button while logged into the ITA tool may result in an issue with the program.
I’m counting on my refund for something important. Can I expect to receive it in 21 days?
Following the receipt of your return, a number of different circumstances might influence the timeliness of your reimbursement. Despite the fact that we provide the majority of refunds in less than 21 days, it is conceivable that your refund will take longer. Please bear in mind that your financial institution may require a period of time before crediting your account or mailing you a refund.
It’s been longer than 21 days since the IRS received my return and I haven’t gotten my refund. Why?
- It has flaws, such as an inaccurate Recovery Rebate Credit
- It is insufficient
- And it requires more examination in general. Has been a victim of identity theft or fraud
- Included is a claim for the Earned Income Tax Credit or the Additional Child Tax Credit that has been lodged. See the Q&A section below. In addition, there is Form 8379, Injured Spouse AllocationPDF, which might take up to 14 weeks to be processed.
For the most up-to-date information on IRS return processing during the COVID-19 epidemic, see theIRS Operations Status website (in English). When (or if) we require further information from you in order to process your refund, we will notify you by letter. As long as we’re still processing your return or making corrections to a mistake, neither Where’s My Reimbursement? nor our phone specialists will be able to offer you with an estimated refund date in advance. Please go to Where Has My Refund Gone?
I claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) on my tax return. When can I expect my refund?
According to the Protecting Americans from Tax Hikes (PATH) Act, the Internal Revenue Service is not permitted to provide EITC and ACTC refunds before the middle of the month. When taxpayers choose direct deposit and there are no additional concerns with their tax return, the IRS anticipates that most EITC/Additional CTC refunds will be available in their bank accounts or on their debit cards by March 1. Some taxpayers, on the other hand, may receive their refunds a few days early. Check Where’s My Refund to find out when you will receive your customised refund.
The IRS2Go smartphone app, as well as IRS.gov, continue to be the most convenient ways to check the status of a refund.
Will calling you help me get my refund any faster?
If Where’s My Refund? urges you to call us, our personnel will be unable to give you with any extra information until you specifically request it. If the message “Where’s My Reimbursement?” indicates that we are still processing your return, our personnel will be unable to provide you with an exact refund date.
What information doesWhere’s My Refund?have?
Typically, we will provide you with information on the most recent tax year refund we have on file for you.
Can I use Where’s My Refund? to check the status of a refund on a prior year return.
Where Has My Refund Gone? will show you the current status of your most recently filed tax return during the previous two tax seasons.
When can I start checkingWhere’s My Refund?for my refund’s status?
We’ll notify you within 24 hours of receiving your electronically submitted tax return or within 4 weeks of receiving your paper tax return, whichever is sooner.
WillWhere’s My Refund?show me when I’ll receive my refund?
Where Has My Refund Gone? After we have processed your return and approved your reimbursement, we will contact you to set up a specific day for you.
Will ordering a transcript help me find out when I’ll get my refund?
A tax transcript will not assist you in determining when you will get your refund. There is no guarantee that the information transcripts have about your account will accurately reflect the amount or timeliness of your refund. They are ideally suited for verifying prior income and tax filing status for mortgage, student, and small business loan applications, as well as for assisting with tax preparation and production of tax returns.
I’m a nonresident alien. I don’t have to pay U.S. federal income tax. How do I claim a refund for federal taxes withheld on income from a U.S. source? When can I expect to receive my refund?
Nonresident aliens who receive income from a source in the United States must disclose the necessary income and withholding amounts on Form 1040-NR, U.S. Nonresident Alien Income Tax ReturnPDF in order to be eligible for a refund of federal taxes withheld on such income. When you submit your Form 1040NR, you must include any supporting documentation that demonstrates your income and withholding levels. To complete a 1040NR return, we require more than 21 days of processing time. Please anticipate up to 6 months for your refund to be processed from the date you filed your 1040NR.
How will I know you’re processing my tax return?
Where Has My Refund Gone? tracks the progress of your tax return from its reception until its conclusion. It will notify you when your return has been received as well as if your refund has been accepted or has been issued.
What is happening whenWhere’s My Refund?shows my tax return status as received?
We have received and are currently processing your tax return.
What is happening whenWhere’s My Refund?shows my refund’s status as approved?
We’ve authorized your request for a refund. Currently, we are prepared to issue a refund through your bank or straight to you through the mail. This status will inform you as to when we will transfer the funds back to your bank account (if you selected the direct deposit option). You should check with your bank about your refund 5 days after we’ve issued it because banks differ in how and when they credit monies to accounts. If you get a refund cheque in the mail, please allow several weeks for it to arrive.
How long will it take for my status to change from return received to refund approved?
It can take a few days in certain cases, but it could take longer.
DoesWhere’s My Refund?always display my refund status showing the different stages of return received, refund approved and refund sent?
No, this is not always the case. Instead, when we are still examining your return, it may offer instructions or an explanation of what we are doing, depending on the circumstances.
DoesWhere’s My Refund?update often?
Once a day, generally at night, for 30 minutes. There is no need to check any more frequently.
WillWhere’s My Refund?give me my amended return’s status?
No, it will not provide you with information on revised tax returns. What happened to my Amended Return? can provide you with information on the current status of your amended return. The status of your modified return may only be researched by our phone and walk-in staff if it has been 16 weeks or more since you submitted it in.
I requested a direct deposit refund. Why are you mailing it to me as a paper check?
- We can only deposit refunds into accounts in your own name, the name of your spouse, or the name of a joint account
- Otherwise, we cannot repay you. A direct deposit may be rejected by a banking institution. The amount of electronic refunds that can be deposited into a single bank account is limited to three
Why is my refund different than the amount on the tax return I filed?
It is possible that all or part of your return was utilized (offset) to pay down past-due federal tax, state income tax, state unemployment compensation obligations, child support, spousal support, or other federal nontax debts, such as student loan debt. If you believe you may be entitled to an offset, or if you have any questions concerning an offset, you should contact the collection agency to which you owe the amount. We may have also adjusted the amount of your refund as a result of the modifications we made to your tax return.
You’ll receive a notification informing you of the changes.
page will show the reasons for the refund offset. More information on refund offsets may be found in Tax Topic 203, Refund Offsets for Unpaid Child Support, Certain Federal and State Debts, and Unemployment Compensation Debts, which can be found here.
What should I do when the refund I receive is not from my tax account?
We ask that you refrain from cashing the refund cheque or spending the direct deposit return. Tax Topic 161, Returning an Erroneous Return – Paper Check or Direct Deposit, provides extra advice on what you should do if you get an incorrect refund.
What to Expect for Refunds This Year
The Internal Revenue Service processes more than nine out of ten refund requests in fewer than 21 days. If your tax return requires further scrutiny, it is likely that it will take longer to complete. Where’s My Refund? provides you with the most up-to-date information on the status of your refund. Because the tool is updated on a daily basis, you won’t have to check it more frequently. Where Has My Refund Gone? If it has been more than 21 days since you filed electronically, more than 6 weeks after you received your paper return, or if the Where’s My Refund?
It is possible to begin checking on the status of your return within 24 hours of us receiving your e-filed return or within 4 weeks of mailing your paper return if you utilize this tool to submit your return electronically.
Based on the processing of your tax return, you will get individualized refund information in the mail.
Join the eight out of ten taxpayers who receive their refunds more quickly by filing electronically and using direct deposit. It has always been the most secure and expedient method of receiving a refund, and this is even more true in these difficult times. It is also simple to operate. Simply choose it as your return method in your tax software and enter the account number and routing number into the appropriate fields. Alternatively, inform your tax preparer that you desire direct deposit. If you are one of the rare people who still files their taxes on paper, you can even utilize direct deposit.
- In addition to finding your routing and account numbers on the bottom of your checks, you can find them through your online banking program or by directly contacting your financial institution.
- If you have a prepaid debit card, you may be able to have your refund credited to the card instead of to your bank account.
- In order to guarantee that your card may be used, you would need to contact the financial institution and acquire the routing number and account number, which may be different from the card number.
- An electronic refund cannot be placed into more than three different financial accounts or pre-paid debit cards at the same time.
Whether you file electronically or on paper, direct deposit allows you to get your refund more quickly than you would receive a paper check. It is not necessary to delay direct deposit refunds because of natural disasters or other weather-related occurrences that hinder postal service.
Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding
If you filed a Form 1040NR and sought a refund of the tax withheld on a Form 1042-S, we will require more time to process your return because of the additional time required. You should delay up to 6 months from either the original due date of the 1040NR return or the date on which you actually submitted the 1040NR form before receiving any refund that may be due.
Publication 2043: IRS Refund Information Guidelines for the Tax Preparation CommunityPDF (in PDF format).
Where’s My Tax Refund? The IRS Refund Timetable Explained
It has been updated for Tax Year 2021 / January 30, 2022 at 3:34 PM (EDT). OVERVIEW What occurs when you click on the green button to send your tax return is as follows. Remember that filing your tax return electronically and selecting direct deposit is the fastest method to get your refund. Subscribe: Apple Podcasts|Spotify|iHeartRadio are examples of podcasting services. The Most Important Takeaways When you file your return electronically, it normally takes between 24 and 48 hours for the IRS to accept your submission.
The Internal Revenue Service usually issues refunds in fewer than 21 days.
To check on the status of your refund, use the IRS’s Here’s My Refund?tool or contact the IRS at 800-829-1954 starting 24 hours after you e-file your return.
“Where’s my tax refund?”
Have you ever wondered what occurs between the time you file your tax return and the time you receive your refund? When you click on the green button to send your tax return, here’s what happens in reality.
- Following that, we “stamp” the return with an electronic postmark before sending it to the government. Afterwards, we both have to wait between 24 and 48 hours for the IRS to receive your tax return. What exactly are they up to? They are double-checking your personal information to ensure that it corresponds to their own records. If everything appears to be in order, the IRS will approve your return.
Once you have been accepted, you will be placed on the IRS payment schedule. Only the Internal Revenue Service (IRS) is aware of the current status of your tax return, including whether you owe taxes or are expecting a refund. Taxpayers received more than 9 out of 10 refunds from the IRS in fewer than 21 days last year, a significant increase from previous years. In 2021, the same outcomes are predicted to be achieved. TurboTax Tip: You may check on the status of your return by using the IRSWhere’s My Refund?tool or by calling the IRS at 800-829-1954, starting 24 hours after you e-file.
Once you have e-filed your tax return, you may check the status of your refund in a variety of ways, including:
- You can make advantage of the IRSW. Here’s a link to the My Refund?tool (which is the fastest choice)
- Call the Internal Revenue Service at 800-829-1954.
Based on the processing of your tax return, the refund information you receive will be customized for you by the tool. They will notify you of an actual refund date as soon as the Internal Revenue Service reviews your tax return and accepts your refund application.
The vast majority of refunds will be processed in less than 21 days. Within 24 hours of e-filing your return, you should be able to begin checking on the progress of your refund. Keep in mind that e-filing and selecting direct deposit are the fastest ways to get your refund.
All you need to know is yourself
Provide straightforward answers to a few easy questions about your life, and TurboTax Free Edition will take care of the rest. Simple tax returns are all that are required.
Here’s how long it will take to get your tax refund in 2022
Three-quarters of all Americans receive a yearly tax return from the Internal Revenue Service, which is generally the largest check a family receives throughout the year. However, with 2018 tax season now underway, taxpayers may experience a replay of last year’s processing backlog, which resulted in around 30 million taxpayers having their forms — and refunds — held up by the IRS. Treasury Department officials cautioned on Monday that the upcoming tax season will be difficult, with the Internal Revenue Service (IRS) beginning to process returns on January 24.
As of December 31, the IRS had a backlog of 6 million unprocessed individual tax returns, a considerable decline from a backlog of 30 million in May, but a big increase from the 1 million unprocessed returns that are more normal at the start of tax season at this time.
Although the tax season has begun, taxpayers should expect a repetition of last year’s processing backlog, which resulted in around 30 million taxpayers having their returns — and refunds — held up by the Internal Revenue Service for an extended period of time.
In significant part, this is due to the IRS’s substantial backlog of tax returns dating back to 2021.
In the meanwhile, tax experts say there are several things people can take to assist secure a timely tax refund, which is especially crucial this year given the IRS’s large backlog of refund requests. Following the release of a report to Congress on Wednesday, the National Taxpayer Advocate Erin M. Collins expressed “grave worry” about the next filing season, citing the backlog of tax returns, among other difficulties. In order to prepare a dinner, Mark W. Everson, vice chairman of Alliantgroup and former Commissioner of the Internal Revenue Service, explained that “the first thing you need to know is that the kitchen must be clean after the previous meal.” “It simply snowballs into a really bad scenario from there.” Collins’ report, which characterized an agency in crisis, stated that delays in processing tax returns are one of the most critical issues facing the agency.
“Weeks and weeks” of IRS delays
Although the IRS claims that the vast majority of refunds would be processed within 21 days, experts caution that delays are probable due to the fact that the agency is currently processing tax returns for the 2020 tax year. Following a record-breaking fiscal year, the Internal Revenue Service processed more than 240 million tax returns and issued almost $736 billion in refunds, which included $268 billion in federal stimulus payments, according to the most recent IRS statistics. Approximately 60 million individuals contacted or visited an IRS office during that time period.
- “File early in 2022, get started tomorrow, and attempt to put your taxes together with the assistance of a knowledgeable expert,” says the author.
- According to Collins, the Internal Revenue Service answered just around one out of every nine taxpayer calls during fiscal year 2021.
- “In the olden days, you’d have to wait 5-10 minutes before getting a hold of an IRS agent,” said Christian Cyr, a CPA and president and chief investment officer of Cyr Financial, a financial services firm.
- It takes a lot of effort to ensure a successful tax filing process, especially considering that the average refund last year was around $2,800.
- This is a measure that the Internal Revenue Service strongly recommends this year.
- This is due to the fact that the IRS depends on computers to electronically process submitted returns, whereas paper returns must be processed by human personnel at the time of filing.
Even if one ignores the stresses on employees caused by the epidemic, the IRS’s personnel has not kept pace with population growth.
That implies fewer employees will be required to handle a higher number of returns.
Tax professionals encourage people to join the approximately 138 million taxpayers who have already opted to file their returns electronically.
Request a refund by direct deposit.
According to the agency, the quickest method to receive your money is to employ a combination of e-filing and direct deposit, which transfers the funds directly into your bank account.
According to the IRS, the vast majority of taxpayers who file electronically and choose direct deposit will get their refunds within 21 days, providing there are no difficulties with the return itself.
Don’t make educated guesses.
Any discrepancies are identified for manual review by an employee.
Once this occurs, it is probable that your tax return may be delayed for many weeks or perhaps months.
According to Cyr, relying on “word of mouth or the honor system” while completing your tax return is not a good idea.
In 2021, these letters will tell each taxpayer of the amount of money they got via these programs — these are vital papers to keep on hand since you’ll be referring to the figures in these letters when completing your tax return in the future.
“Make sure you don’t have any difficulties that are the result of your own carelessness,” Everson suggested.
However, because some CTC letters were issued to taxpayers in error, the Internal Revenue Service is asking them to double-check how much they got by entering into their accounts at IRS.gov. The Internal Revenue Service will issue two letters:
- In spite of the IRS’s assurances that most refunds will be sent within 21 days, experts caution that delays are probable due to the agency’s ongoing work on tax returns for 2019. According to the most recent IRS figures, the IRS processed more than 240 million tax returns and issued approximately $736 billion in refunds for the 2020 fiscal year, including $268 billion in government stimulus payments. Approximately 60 million people made phone calls or visited an IRS office during that time period. Donald Williamson, an accounting and taxes professor at American University in Washington, predicted that the IRS will be delayed for “weeks and weeks” in 2022. For the year 2022, my recommendation is to file early, begin immediately, and attempt to put your taxes together with the assistance of a knowledgeable expert.” Tax preparers have informed CBS MoneyWatch that it is still difficult to get in touch with IRS officials over the phone, which adds to the difficulty. For the fiscal year 2021, according to Collins, the IRS responded just around one out of every nine taxpayer phone calls. It was pointed out to her that “a large number of taxpayers are dissatisfied because they are not receiving answers to their queries.” The IRS used to respond to phone calls within 5-10 minutes, according to Christian Cyr, a certified public accountant and president and chief investment officer at Cyr Financial. “Back in the day, you’d have to wait 5-10 minutes to get an IRS representative on the phone,” Cyr said. According to him, his CPAs are now forced to queue up for hours in order to talk with an IRS employee, with no assurance that they will ever speak with someone. Because the average refund last year was around $2,800, ensuring a flawless tax filing process has a lot at stake. Tax professionals and the Internal Revenue Service provide advice on how to receive a tax refund within 21 days after completing your return. 1. Make a digital submission. 2. This is something that the Internal Revenue Service highly recommends this year. The IRS claims that taxpayers who file online are more likely to have their returns completed more promptly than those who submit on paper. Although some individuals prefer to file on paper, others may be forced to do so. This is due to the fact that the IRS depends on computers to electronically process submitted returns, whereas paper returns must be processed by human personnel at the time of submission. Initial reports indicated that the Internal Revenue Service (IRS) closed its offices and personnel stopped reading mail, causing the processing of paper tax returns to be delayed. The IRS’s workforce hasn’t kept up with population increase, even after adjusting for employee stress caused by the epidemic. A 60 percent increase in population has not changed the size of the agency’s employees since it was established in 1970. Thus, less staff will be required to deal with an increased amount of returns. Taxpayer Advocate Service records show that around 10 million paper returns were filed last year, accounting for approximately 7 percent of the total 148 million forms filed in 2021. Approximately 138 million taxpayers now use e-filing, according to tax specialists, and more should do so. According to National Taxpayer Advocate Collins, “Paper is the IRS’s Kryptonite, and the agency continues to be buried in it.” Receive your reimbursement by direct transfer in the following manner: As a final recommendation, the IRS suggests that people set up a direct deposit account to receive their refunds. According to the agency, the quickest method to receive your money is to use a combination of e-filing and direct deposit, which transfers the money directly to your bank account once you submit your application. Last year, around 95 million individuals got refunds, with approximately 87 million of them electing to have their monies deposited directly into their accounts. Assuming there are no issues with the return, the IRS estimates that the majority of taxpayers who file electronically and choose direct deposit will get their refund within 21 days. Make no assumptions about the outcome. The Internal Revenue Service compares its statistics to the information provided by taxpayers on their tax filings. Any discrepancies are identified for manual inspection by an employee. For example, if your W2 shows that you made $60,000 but you put on your tax return that you earned $58,000, the return is detected. Once this occurs, it is probable that your tax return may be delayed by many weeks or perhaps months. To ensure that data is reported correctly, tax professionals encourage consumers to thoroughly review their tax forms. The use of “word of mouth or the honor system” to complete your tax return is discouraged, according to Cyr. This will, I assure you, result in a backlog. In a similar vein, the IRS is issuing letters this month to individuals who will get the third federal stimulus check in 2021, as well as the advancedChild Tax Credit installments, which are both scheduled to be paid in 2021. These letters will tell each taxpayer of the amount of money they got via these programs in 2021 — these are vital papers to keep on hand since you will need to refer to those numbers when completing your tax return in the following year, if you qualify. It was taxpayers’ inaccuracies in declaring their 2020 stimulus payment amounts on their tax returns that caused their tax files to be highlighted for manual examination in 2021, which was a significant contributor to the backlog of tax returns that year. As Everson cautioned, “avoid having any difficulties that are the result of your own carelessness.” Because some taxpayers got inaccurate CTC letters, the Internal Revenue Service (IRS) is asking them to double-check how much they received by entering into their accounts on IRS.gov. The IRS will issue two letters: the first will be sent to the taxpayer, and the second will be addressed to the taxpayer’s employer.
According to tax professionals, you should keep both of these letters and refer to them while completing your tax return.
You may face a delay if you claim these tax credits
Even if you follow all of the instructions to the letter, there are a few of difficulties that might cause delays. In addition, the IRS states that it will not be able to provide refunds including the Earned Income Tax Credit (EITC) or the Child Tax Credit until mid-February. As the Internal Revenue Service (IRS) said last week, “the legislation affords this additional time to assist it in preventing false refunds from being paid.” That implies that even if you file your tax return as soon as possible on January 24, you may still not get a refund within the required 21-day period if your tax return includes either of those tax credits.
A 2015 rule that slows refunds for persons who claim these credits was enacted as a countermeasure to fraudsters who use identity theft to steal taxpayers’ money, and it is the cause for the delay.
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2022 Refund Schedule: How Long Do I Have to Wait Until I Get My Tax Refund?
We’ve based these dates on historical data, which indicates that the IRS will send the majority of refunds in fewer than 21 days after the return is received. Certain factors, such as the following, might influence the timing of your refund:
- It doesn’t matter how you submitted your return
- The IRS will process it more quickly if you send it in online rather than by mail. When you filed — The sooner you file, the more likely it is that your return will be completed quickly. It depends on the credits you claimed
- Claiming certain credits may cause your refund to be delayed (see below for more information)
What is the IRS refund schedule?
The Internal Revenue Service (IRS) normally distributes refunds on a timetable. This schedule is dependent on the method via which you submitted your return, when you filed it, and which credits you claimed. See the graphic below for an approximation of the timetable.
|Filing method and refund delivery method||How long it takes to receive your refund from the time your return is accepted|
|E-file and direct deposit||1-3 weeks|
|E-file and check||1 month|
|Mail in return and direct deposit||3 weeks|
|Mail in return and check||2 months|
When will I receive my tax refund?
The dates listed in the following chart are estimates. If you have completed all of your paperwork correctly and have not claimed any tax advantages that may create a delay, you may be able to get your refund for the tax season beginning in 2021.
|If the IRS accepts your return by:||Direct deposit could be sent as early as:||Or your check could be mailed as early as:|
|Jan. 24||Feb. 4||Feb. 11|
|Jan. 31||Feb. 11||Feb. 18|
|Feb. 7||Feb. 18||Feb. 25|
|Feb. 14||Feb. 25||March 4|
|Feb. 21||March 4||March 11|
|Feb. 28||March 11||March 18|
|March 7||March 18||March 25|
|March 14||March 25||April 1|
|March 21||April 1||April 8|
|March 28||April 8||April 15|
|April 4||April 15||April 22|
|April 11||April 22||April 29|
|April 18||April 29||May 6|
Please keep in mind that your tax refund is issued by the Internal Revenue Provider, not TaxSlayer or any other filing service. This implies that your filing agency is unable to provide an accurate estimate of when you will receive your refund. However, you may utilize the IRS’sWhere’s My Refundtool to determine the specific location of your return.
What happens after I e-file?
TaxSlayer time stamps your return and electronically transmits it to the Internal Revenue Service once you file your return with us. The Internal Revenue Service has now received your tax return. They will normally spend the following 24-48 hours to examine your information to ensure that it is valid before processing it. If your personal information matches their records and you haven’t claimed any credits or deductions that necessitate additional investigation, they will accept your tax return as submitted.
Once your return has been approved, you should get an email notice from us. Following receipt of confirmation, you may expect to receive your refund in accordance with the timeline outlined above, within a few weeks.
What does it mean when my tax return is accepted?
It implies that the IRS has reviewed your return and found it to be satisfactory after their initial examination. If you get confirmation that the IRS has accepted your return, it means that the IRS has reviewed your return and found it to be satisfactory after their initial inspection. They check your personal information as well as other fundamentals, such as whether or not your dependents have previously been claimed by someone else. Then they have a few days to decide whether or not to issue a refund.
Following the IRS’s approval of your return, they will fund your refund in accordance with the timeline outlined above.
Is it faster to file electronically or mail in my return?
In the majority of circumstances, filing your tax return electronically is more expedient. The IRS gets these returns more quickly than those that are sent in, which reduces the amount of time that elapses from the time you file your return and the time you receive your refund. Make an electronic tax return withTaxSlayerand select direct deposit to receive your refund as soon as possible. More information on the benefits of electronic tax filing may be found in the article 5 Reasons Why You Should File Your Taxes Online.
What tax breaks can affect the timing of my refund?
If you are claiming the Earned Income Tax Credit or the Additional Child Tax Credit, it is possible that your refund may be postponed. According to the IRS, refunds are not normally sent before the middle of February, which implies that your return will most likely come in early March at the earliest possible time.
Should I file my taxes early?
Filing your tax return early might provide you with a number of benefits that will be beneficial to you throughout the tax season. These benefits include less worry, having more time to pay if you owe money on your taxes, and (of course) receiving your return sooner rather than later.
What if I miss the deadline?
Tax season may be stressful enough without having to worry about filing your tax return early. This includes lowering your stress levels, having more time to pay your taxes if you owe money, and (of course) receiving your return faster.
Are there any important tax dates to know?
Yes, it is critical to keep the following dates in mind throughout tax preparation season.
- In the event that you receive a tax bill, the deadline to file and pay it is April 18, 2022. To file an extended tax return, you must do so by October 17, 2022.
For a more comprehensive list of significant tax deadlines, please visit this page. The information contained in this article is current through the tax year 2021. (taxes filed 2022).
Tax Refund Schedule 2021: How Long It Takes To Get Your Tax Refund
We at Bankrate are dedicated to assisting you in making more informed financial decisions. Despite the fact that we adhere to stringent guidelines, this post may include references to items offered by our partners. Here’s what you need to know about According to the IRS, more than 90 percent of tax refunds are given in fewer than 21 days after the refund request is received. While the precise date of obtaining your refund is dependent on a variety of circumstances, it is possible that the procedure will take longer in some situations.
If you’ve been owed a refund, you’re undoubtedly looking forward to receiving it. You should be aware of the following information if you want to forecast how long you will have to wait for your refund:
How long will my tax refund take?
The Internal Revenue Service (IRS) distributes over nine out of ten refunds to taxpayers in less than three weeks. Unfortunately, the arrival of your tax return within 21 days is not guaranteed. There are a variety of factors that might influence the length of time it takes for you to get your tax return, including the choices you make when you file. You have the option of selecting the method through which you will receive any refund the IRS owes you. Here are some alternatives for you:
- Return of funds by direct deposit into your bank account (this is the quickest method of receiving your refund)
- Mailing a paper check is a common practice. The refund will be credited to the debit card on file. Purchase up to $5,000 worth of United States Savings Bonds
- Divide your return across up to three different financial accounts in your name, such as a regular IRA, a Roth IRA, or a SEP-IRA
Depending on whatever delivery method you select for your tax refund, the amount of time it takes for you to receive your payments may vary. According to the Internal Revenue Service, combining the direct deposit option with an electronically filed tax return is the most efficient way to get your refund.
Tax refund process
Based on your filing and delivery preferences, the table below provides an anticipated breakdown of how soon you could expect to receive your tax return.
|Delivery type||Delivery time (date filed – receipt of tax refund)|
|E-file with direct deposit||1-3 weeks|
|Paper file with direct deposit||3 weeks|
|E-file with refund check in the mail||6-8 weeks|
|Paper file with refund check in the mail||6-8 weeks|
2021 IRS refund schedule chart
Given your filing and delivery preferences, the table below provides an estimate of when you should expect to receive your tax return.
|Date taxes accepted||Direct deposit sent||Paper check mailed|
|Jan. 25 – Jan. 30||Feb. 12||Feb. 19|
|Jan. 31 – Feb. 6||Feb. 19||Feb. 26|
|Feb. 7 – Feb. 13||Feb. 26||March 5|
|Feb. 14 – Feb. 20||March 5||March 12|
|Feb. 21 – Feb. 27||March 12||March 19|
|Feb. 28 – March 6||March 19||March 26|
|March 7 – March 13||March 26||April 2|
|March 14 – March 20||April 2||April 9|
|March 21 – March 27||April 9||April 16|
|March 28 – April 3||April 16||April 23|
|April 4 – April 10||April 23||April 30|
|April 11 – April 17||April 30||May 7|
|April 18 – April 24||May 7||May 14|
|April 25 – May 1||May 14||May 21|
|May 2 – May 8||May 21||May 28|
|May 9 – May 15||May 28||June 4|
|May 16 – May 22||June 4||June 11|
|May 23 – May 29||June 11||June 18|
|May 30 – June 5||June 18||June 25|
|June 6 – June 12||June 25||July 2|
|June 13 – June 19||July 2||July 9|
|June 20 – June 26||July 9||July 16|
|June 27 – July 3||July 16||July 23|
|July 4 – July 10||July 23||July 30|
|July 11 – July 17||July 30||Aug. 6|
|July 18 – July 24||Aug. 6||Aug. 13|
|July 25 – July 31||Aug. 13||Aug. 20|
Other factors that could affect the timing of your refund
There are a number of other causes that might delay the processing of your tax refund, including mistakes, incomplete tax filings, and fraud. Due to unique IRS restrictions, taxpayers who claim the earned income tax credit (EITC) or the extra child tax credit (ACTC) may have further delays in receiving their refunds until February 27th. If the Internal Revenue Service concludes that your tax return requires additional scrutiny, you can anticipate a lengthier wait time for your refund. According to the IRS, refunds for returns that contain problems or that require special treatment might take up to four months to process.
Delays can also occur when the IRS detects that a return is the result of identity theft or fraud.
A delay in answering can lengthen the time it takes for your refund to be processed.
How to track the progress of your refund
The Internal Revenue Service (IRS) has reduced the guessing associated with waiting for your tax refund by developing IRS2Go, an app that allows you to follow the progress of your return. Also available is the “Where’s My Refund?” web site, which allows you to track the progress of your refund. 24 hours after an e-filed return is received by the IRS, or four weeks after a paper return is received by the IRS, both technologies deliver individualized daily updates to taxpayers.
It is possible to watch your refund’s journey through three phases after submitting some basic information (such as your Social Security number or ITIN, your filing status, and the precise amount of your return).
Once your refund has reached the third step, you will need to wait for your financial institution to conduct a direct transfer into your account or for a paper check to arrive in the mail to get your refund.
What to do once your refund arrives
According to the Internal Revenue Service, for many Americans, their IRS tax return is the largest check they get all year. It’s a good idea to have a strategy for how you’re going to spend your windfall in advance of receiving it. Making a decision on how you will spend, save, or invest the money ahead of time might help you avoid succumbing to the purchasing desire when it strikes. Your return is yours to spend as you see fit, and it may be used to help pay for day-to-day expenditures or invested to provide long-term financial security for yourself and your family.
Are you looking for some inspiration?
- What happened to my refund? How to track the status of your tax refund
- This was the average tax refund received during the previous filing season. These nine states do not levy an income tax.
Credit expert Michelle Lambright Black has more than 19 years of expertise. She is also a published freelance writer and a credentialed credit expert witness. Michelle’s writing has appeared in a variety of publications, including FICO, Experian, Forbes, U.S. News & World Report, Reader’s Digest, and others. She now writes for Bankrate. Senior editorial director was in charge of editing. LourdMurray’s senior wealth manager reviewed the document.
How Long Does an IRS Tax Refund Take?
Tax Day — the deadline for submitting federal and state income tax returns for the vast majority of Americans — was delayed by about one month in 2021 as a result of the COVID-19 epidemic. When it comes to tax day, the date is set to revert to its usual date of April 15 in 2022. If you have any questions regarding your taxes, one of the most often asked inquiries is how long it will take to get your tax return. As a general rule, the answer is anything between eight days to two months, depending on how you file your claim and how you choose to get your refund.
With our free guide, you can take charge of your taxes.
Tax Refund Process
When it comes to processing tax returns and providing tax refunds, the Internal Revenue Service follows a fairly rigorous procedure. Your return will be accepted once they have received and processed your return, which usually takes 24-48 hours. These individuals are verifying if the personal information contained on your return corresponds to the information in their records during this time period. If everything checks out, you’ll receive notification from the IRS that your return has been approved.
Using the IRS’s onlineWhere’s My Refund?
Alternatively, you can phone 800-829-1954 if that is more convenient for you.
Approximately 24 hours after electronically submitting your tax return, or approximately one month after mailing in a paper tax return, you can access this website.
Federal Tax Refund Schedule
A breakdown of how long it typically takes to get a tax refund is shown below, with timing estimates based on how the return was filed and which method was selected to collect the refund:
|Filing Method||E-file/Direct Deposit||Paper File/Direct Deposit||E-file/Check||Paper File/Check|
|Refund Time||1-3 weeks||3 weeks||1 month||2 months|
Factors that Affect Timing
As you can see, electing to file your income tax return electronically and to get your refund by direct deposit can significantly expedite the refund process. Prior to the availability of e-filing, tax returns had to be submitted to the Internal Revenue Service (IRS), where the information was scanned or manually input into the system. The IRS then sent paper checks to taxpayers, which they were required to return back to them. Because of the manual nature of this procedure, it might take up to two months, causing many individuals to be eagerly awaiting their mail for several weeks.
Nine out of ten taxpayers who choose for direct deposit receive their refunds within 21 days of the day on which they submit their tax returns online.
Even if you prefer to file your income taxes the old-fashioned manner, you may still do so by mailing in your return and obtaining a paper check.
How Can I Speed Up My Refund?
Here are three suggestions to help you receive your income tax refund as quickly as possible.
1. Keep your tax records organized.
Being organized will allow you to file your tax return more quickly while also avoiding mistakes that might cause your return to be delayed in processing. For example, keep all of your tax paperwork in one place — such as W-2 and 1099 forms, as well as proof supporting itemized deductions — so that they’re easy to find when you’re in need of them.
2. Use tax preparation software.
Tax preparation software may substantially simplify and speed the process of preparing and submitting your taxes. In addition to including all of the IRS forms and schedules you’ll need, these programs also assist you in making sure you’re following all of the current tax regulations and taking advantage of every possible deduction, which might result in a larger tax refund.
3. File your return electronically and choose direct deposit of your refund.
Following the procedures outlined above, completing your return electronically and electing to get your refund through direct deposit rather than a cheque in the mail will significantly speed up the processing of your refund. Your refund might be in your bank account less than two weeks after the IRS accepts your return if you use e-filing and direct deposit.
What to Do Once You Receive Your Refund
Given that a tax refund might appear to be a windfall in terms of money, it’s a good idea to plan ahead for what you’ll do with the money once it arrives in your account. Here are five suggestions.
1. Pay down debt, including your mortgage.
High levels of consumer debt, particularly credit card debt, are one of the most significant impediments to the accumulation of wealth, making debt repayment one of the most wise uses of a tax return.
If you don’t have any credit card debt, you might want to consider using a portion or all of your tax refund to pay down the principal on your mortgage instead. Calculate it as follows: Calculator for Debt Repayment
2. Start or add to an emergency fund.
An emergency fund is a sum of money stored in a liquid savings account that may be used for unforeseen needs such as automobile or house repairs or large out of pocket medical expenses. A good rule of thumb is to have between three and six months’ worth of living costs saved up in a separate account for emergencies. Find out more about how much money you should have in an emergency fund by reading this article.
3. Save it for retirement.
An emergency fund is a collection of funds held in a liquid savings account that may be used for unforeseen needs such as automobile or house repairs or large out of pocket medical expenses. A good rule of thumb is to have between three and six months’ worth of living costs saved up in a separate account just in case something happens. Find out more about how much money you should have in an emergency fund by reading this article!
4. Save it for a home down payment.
If possible, put down at least 20% of the purchase price of a property when purchasing a home to avoid mortgage interest payments. This will assist you in lowering your monthly mortgage payment and may eliminate the need for you to obtain private mortgage insurance in the future. Setting away a portion of your tax refund in a down payment savings account may assist you in meeting this objective. Continue reading:What is PITI? Explanation of the terms principal, interest, taxes, and insurance
5. Have some fun!
Whenever possible, it is advisable to put down at least 20% of the purchase price of a property. The monthly mortgage payment will be reduced as a result of this, and you may avoid the need to obtain private mortgage insurance as well. You might achieve this aim by setting aside a portion of your tax refund in a down payment saving fund. What is PITI? Find out more here. Understanding the terms principal, interest, taxes, and insurance
The Bottom Line
Personal Capital provides free financial tools that can assist you in improving your personal financial management, including how to make wise decisions about what to do with your tax refund. Personal Capital also provides a variety of other services. You may take a few steps right now to put yourself on the correct path to success.
- Download 5 Tax Hacks for Investors, a practical resource that includes ideas from ethical financial advisers, to get started now. Sign up for the Personal Capital Dashboard to receive the guide for free. Consider consulting with a fiduciary financial advisor for more detailed guidance on your tax optimization strategies
- Millions of people use these free and secure online financial tools to see all of their accounts in one place and plan for long-term financial goals.
Start Investing in Yourself with Personal Capital
How Long Does It Take to Get a Tax Refund?
You may only breathe a sigh of relief once you’ve completed the time-consuming and stressful process of completing your tax returns. This is due to the fact that you’ll most likely be thinking, “How long does it take to collect a tax refund?” You may, however, be dissatisfied with the IRS processing periods, regardless of how eager you are to get your refund check from your federal income tax return. You should know how long it will take to get your federal tax return so that you can factor it into your budgeting for the year.
How Long Will My Tax Refund Take?
The manner in which you file your tax return will have a significant impact on when you get your refund. To get your refund by direct deposit, the most expedient method is to e-file your return and have it processed electronically. The vast majority of taxpayers who choose this option will receive their refunds within 21 days of filing their 2021 taxes, which will be filed in 2022, according to the IRS. The IRS will approve your tax return on April 15th, which means your refund will be in your bank account within three weeks of that date.
If you file a paper return or if you choose to get your refund in the form of a paper check, it will take longer for your return to be processed.
So if you’re tempted to wait about wondering, “How long does it take to obtain a tax refund?” you might want to consider e-filing or, at the very least, direct deposit to avoid the hassle. The following table will provide you with an indication of how long it generally takes to get a tax refund:
|Federal Tax Refund Schedule|
|Filing Method||E-File, Direct Deposit||Paper File, Direct Deposit||E-File, Check in Mail||Paper File, Check in Mail|
|Time from the day you file until you receive your refund*||1-3 weeks||3 weeks||1 month||2 months|
*Please keep in mind that these are only suggestions. For the most part, depending on how you file, you should be able to anticipate to get your refund within these time frames. The following is a thorough summary of when taxpayers got their return in 2021 for your convenience:
|2021 IRS Refund Schedule|
|Taxes Accepted||Direct Deposit||Paper Check|
|Week of February 13||February 26||March 5|
|Week of February 20||March 5||March 12|
|Week of February 27||March 12||March 19|
|Week of March 6||March 19||March 26|
|Week of March 13||March 26||April 2|
|Week of March 20||April 2||April 9|
|Week of March 27||April 9||April 16|
|Week of April 3||April 16||April 23|
|Week of April 10||April 23||April 30|
|Week of April 17||April 30||May 7|
|Week of April 24||May 7||May 14|
|Week of May 1||May 14||May 21|
|Week of May 8||May 21||May 28|
|Week of May 15||May 28||June 4|
|Week of May 22||June 4||June 11|
|Week of May 29||June 11||June 18|
|Week of June 5||June 18||June 25|
|Week of June 12||June 25||July 2|
|Week of June 19||July 2||July 9|
|Week of June 26||July 9||July 16|
|Week of July 3||July 16||July 23|
|Week of July 10||July 23||July 30|
|Week of July 17||July 30||August 6|
|Week of July 24||August 6||August 13|
|Week of July 31||August 13||August 20|
Tax Returns That Include the EITC or ACTC
If you filed a claim for the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), you may have to wait a little longer for your refund to be processed. The Internal Revenue Service is required by law to retain refunds from these returns until February 15. According to the Internal Revenue Service, you shouldn’t anticipate your refund to arrive in your bank account until late February. Returns that are not processed by direct deposit, as well as those that have difficulties with them, will take more time to process.
How to Check Your Tax Refund Status
“How long does it take to collect a tax refund?” is something you could be wondering about on a regular basis. Use the IRS website’s Where’s My Return? feature to find out where your federal tax refund is in the process of being sent to you. In addition, the IRS2Go smartphone app provides access to the same tool. If you file your return online, the status of your return will normally be known within 24 hours. For paper returns, it will take at least four weeks before you will be able to check on the progress of your submission.
- It is your Social Security Number (SSN). What is the current status of your filing? What the actual monetary amount of your anticipated return will be
If you submitted a tax return for the Earned Income Tax Credit or the American Opportunity Tax Credit, the IRS says you may anticipate your refund status to change by late February.
The manner in which and when you file your tax return will determine how long it will take you to get your tax refund. The quickest approach to obtain your refund is to e-file your return and arrange to have your refund deposited into your account by direct deposit. The IRS has said that, for the tax year 2021, the great majority of e-filers (who also use direct deposit for refunds) would get their refunds within 21 days of filing their taxes online. Sending a paper return or obtaining your refund in the form of a paper check might cause the procedure to take months longer than it should.
This is due to the fact that the vast majority of taxpayers file their returns during those hours.
Tips for Getting Through Tax Season
- In the grand scheme of things, taxes are only one part of your financial situation. A financial adviser can assist you in planning your retirement, estate, and tax strategies in order to achieve all of your financial objectives. Your financial adviser links you with up to three other financial advisors in your region using SmartAsset’s free service, and you may interview your advisor matches at no cost to determine which one is the best fit for you. If you’re ready to locate a financial adviser who can assist you in achieving your financial objectives, get started right away. Remember to take into consideration all of your filing alternatives if you still have to do taxes this year! H R Block and TurboTax are two of the leading tax-filing services in the United States. Both are simple to use and include step-by-step instructions to assist you in maximizing your return. For an in-depth comparison of TurboTax and H R Block, visit SmartAsset. When it comes to processing tax returns, each state has its unique system in place. Depending on your state, you may receive your refund within a number of days, however other states may take many weeks or months to complete your refund. Learn how to verify the status of your state tax refund. In the event that you are reliant on your tax refund to make ends meet, you may be able to make some adjustments to your tax withholdings. If you claim more or fewer allowances on your W-4, it will have an influence on how much tax your employer withholds from your paycheck. Taxes withheld at a lower rate will result in greater take-home income. Even if you receive a large refund while filing your taxes, there may be potential for you to raise your allowances.
iStock.com/fstop123, iStock.com/Eva-Katalin, and iStock.com/alex skp are credited with the images. Derek Silva, CEPF® (Certified Environmental Professional). Derrick Silva is on a mission to make personal finance more accessible to the general public. He contributes to SmartAsset by writing on a number of personal financial subjects and serving as a retirement and credit card specialist. A member of the Society for Advancing Business Editing and Writing, Derek also has the title of Certified Educator in Personal Finance® (CEPF®) and is an expert in personal finance.
Derek wants readers to take away from his work the following message: “Don’t forget that money is only a tool to help you achieve your objectives and live the lifestyle you choose.”