How Long Until You Get Your Tax Return? (Best solution)

If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.

When can I expect my refund 2021?

Overall, the IRS anticipates most taxpayers will receive their refund within 21 days of when they file electronically if they choose direct deposit and there are no issues with their tax return.

When can I expect my refund 2020?

If you file your tax return electronically, the IRS will generaly process direct deposit refunds within 7-10 days of receiving your tax return, and process paper checks within about two weeks. Filing a paper tax return may delay your refund by up to several weeks.

How long does it take to get your tax refund direct deposit?

To make the refund process even faster, file your taxes electronically and select direct deposit for the refund. The IRS says nine out of 10 refunds are issued in less than 21 days when the entire process is done electronically. 6

How long does it take to get your tax refund direct deposit 2021?

“Weeks and weeks” of IRS delays 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. 5

Why is my refund taking so long?

Some tax returns take longer to process than others for many reasons, including when a return: Includes errors, such as incorrect Recovery Rebate Credit. Includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit.

Is it too early to file taxes 2021?

The sooner you file your tax return, the sooner you’ll receive any refund due. This year, the IRS will start accepting 2021 tax returns on January 24, 2022. That’s much earlier than last year, when you had to wait until mid-February to start filing returns.

Are tax refunds delayed 2021?

That means 2021 tax refunds are likely to be delayed; usually electronic refunds come three weeks after filing, a week faster than ones for paper returns. Based on last year’s experience, getting answers from the IRS will be even harder than usual, too. 1

Why have I not gotten my tax refund yet 2020?

There are many reasons your tax refund could be delayed. Perhaps your numbers and your employer’s numbers didn’t match. This year, however, the mostly likely reason your tax refund is delayed is that you filed a paper return. There was an additional backlog of tax returns created by the COVID-19 pandemic.

Why is Where’s My Refund not available?

An incomplete return, an inaccurate return, an amended return, tax fraud, claiming tax credits, owing certain debts for which the government can take part or all of your refund, and sending your refund to the wrong bank due to an incorrect routing number are all reasons that a tax refund can be delayed.

Can my tax refund be rejected after being accepted?

No. Once your return shows “accepted” the status can not change to “rejected”. Please use the below information to check your refund status: How do I check my e-file status?

Is there a delay in tax refunds?

“IRS employees want to do more, and we will continue in 2022 to do everything possible with the resources available to us.” The IRS says most refunds are issued within 21 days of the return being filed.

How long after return is accepted is it approved?

It can take up to 21 calendar days after acceptance for the IRS to issue your refund, although most refunds go more quickly than that, while a small handful may take a bit longer. Start tracking your federal refund at the IRS Where’s My Refund site.

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.

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
  • And

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)
Source: IRS
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

The Internal Revenue Service has not specified an exact date when it would begin accepting tax returns in 2022 for the tax year 2021. An example of the schedule from earlier in 2021 is shown below (the 2020 tax year).

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.

See also:  When Must Taxpayers Complete And Submit Tax Return Forms? (TOP 5 Tips)

Are you looking for some inspiration?

Learn more:

  • 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.

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.

  1. 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.
  2. People who claim the Earned Income Tax Credit or the Child Tax Credit will have their tax returns processed more slowly as a result of regulations designed to prevent fraud.
  3. Furthermore, there are additional difficulties that might cause your return to be delayed, such as math mistakes or improperly reporting the amount of money you got from the advanced Child Tax Credit instalments.
  4. However, it is possible that some taxpayers may mistakenly declare the incorrect amount on their tax returns this year — and that this will happen through no fault of their own.
  5. The Internal Revenue Service (IRS) is requesting that people refer to the letter while completing their tax return.
  6. This could result in a delay in the taxpayer’s return being processed and their refund being mailed to them, according to Larry Gray, a CPA and government relations liaison for the National Association of Tax Professionals.
  7. “People may not know the letter might be incorrect, and what is the IRS doing to send out a follow-up message to prevent generating a worse backlog in the following season?” he added.

It’s crucial to remember that processing times normally slow down when tax season gets begun and the IRS receives a greater volume of returns, according to the IRS.

Ongoing backlog

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.
  • 1.
  • 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:

  • Letter 6419 — alerting taxpayers of their CTC payments in advance of the due date. The agency began issuing these letters in December and will continue to do so throughout the month of January Regarding the third stimulus check, see letter 6475. In late January, you will get a letter from me.

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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2021 IRS Tax Refund Schedule: When Will I Get My Tax Refund?

Tax season is dreaded by many individuals. You may, on the other hand, have something to look forward to if you are anticipating a tax refund. The IRS may be able to help you pay off some debt, construct an emergency fund using a high-interest savings account, or work with an investment and retirement counselor to set investing and retirement objectives if you have additional money coming your way. However, depending on how you file your taxes and how you receive your return, it may take up to three weeks for the majority of individuals to receive their tax refund.

When Will I Get My Tax Refund?

It’s tax season, something many people hate. You may, on the other hand, have something to look forward to if you are anticipating a tax reimbursement. The IRS may be able to help you pay off some debt, construct an emergency fund using a high-interest savings account, or work with an investment and retirement counselor to develop investing and retirement objectives if you get additional money from the government. The majority of individuals will receive their tax return within three weeks, but the time frame varies depending on how you file and how you receive your tax refund.

Estimated 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 estimates. For the most part, depending on how you file, you should be able to anticipate to get your refund within these time frames. According to IRS statistics, filers typically get their refunds two weeks after their taxes have been accepted by the IRS for direct deposit and three weeks after e-filing for a paper check in the mail. What exactly is taking so long? If you have not received your refund within 21 days, it is possible that your tax return needs to be reviewed again.

If the Internal Revenue Service (IRS) need extra information in order to process your return, it may send you instructions by mail.

Tax returns filed by anyone who claimed those credits must be held by the Internal Revenue Service until February 15, according to the Protecting Americans from Tax Hikes (PATH) Act of 2015.

tool and claiming one of those tax benefits may result in a PATH Act notification appearing on your screen.

You should avoid contacting the IRS directly unless you were advised to do so by the Where’s My Refund? feature or it has been 21 days since you filed your tax return electronically–or six weeks since you sent your paper tax return–and you have not received your refund.

What About My State Tax Refund?

Until now, everything we’ve discussed has been about federal tax refunds. In terms of tax refunds, each state operates in a somewhat different manner. If you submitted your state tax return electronically, you should expect to get your refund within 30 days after filing your return. If you submitted a paper tax return, it might take up to 12 weeks for your refund to be processed and received. For further information on the status of your refund, you should contact your state tax office or visit the Department of Revenue website for your state.

When Are Taxes Due?

The deadline to file your tax return and pay your tax bill is usually April 15th of each year. However, because of a legal holiday in Washington, D.C., taxes for the year 2021 must be submitted by April 18, 2022. Residents of Massachusetts and Maine have until April 19, 2022, to file a lawsuit against the state. If you find yourself still unable to make the tax filing due for the upcoming year, you can request for a six-month extension of the deadline. However, the sooner you file your tax return, the sooner you will receive your tax refund.

Bottom Line

It is essential that you complete your tax return as soon as possible, review it for errors before submitting it, and file your tax return electronically if you want to get your refund as promptly as possible. You can request a paper check, but if your return is transferred immediately into your checking account, savings account, or individual retirement plan, you will get it much more quickly (IRA). In case you’re concerned about the status of your tax return, don’t forget to utilize the IRS Where’s My Refund?

See also:  How Much Do Accountants Charge For Tax Return? (Perfect answer)

It gives you up-to-the-minute information on the progress of your return.

Tips for Maximizing Your Tax Savings

  • Finding a quality financial advisor does not have to be a difficult endeavor. 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. When it comes to paying your taxes, using a tax filing service may make the process much simpler. They may relieve you of a lot of the stress and uncertainty associated with the procedure, allowing you to complete a more accurate tax return. They can also assist you in discovering tax deductions or exemptions that you may not have been aware of on your own. Among the most popular software options are Tax preparation services such as TurboTax and H R Block
  • If you discover that you are receiving substantial tax refunds on a frequent basis, it is possible that you are paying too much in taxes in the first place. If this is the case, you may wish to make adjustments to the withholding amounts on your W-4 so that you may retain more money over the whole year. Even if large returns are thrilling, why give the IRS a free loan?

Photography by Juan Monino, Baltic Boy, and Anya Berkut (iStock.com/Juanmonino), with permission. Lauren Perez, CEPF®, is a certified environmental professional. Lauren Perez writes for SmartAsset on a range of personal financial subjects, with a particular focus on savings, banking, and credit cards. She has a bachelor’s degree in English and a master’s degree in finance. Ms. McKinney holds the designation of Certified Educator in Personal Finance® (CEPF®) as well as membership in the Society for Advancement of Business Editing and Writing (SABEW).

Her hometown is Los Angeles, and she was born and raised there.

With the hours of study Lauren puts in at SmartAsset, she is able to give suggestions to friends and family about credit cards and retirement accounts that they could find beneficial.

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. If you want to go beyond taxes and create a comprehensive financial strategy for your future, a financial adviser can assist you in putting up a financial plan.

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.

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.

Bottom Line

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.

In addition, the Internal Revenue Service processes returns more slowly at the beginning and conclusion of tax season. This is due to the fact that the vast majority of taxpayers file their returns during those hours.

Tips for Getting Through Tax Season

  • When you file your tax return, and how you file it, will determine how long it will take for you to get your tax refund. Using e-filing and electing to get your refund by direct deposit is the most efficient method of receiving your refund. Taxpayers who file electronically and utilize direct deposit to collect their refunds will receive their returns within 21 days, according to the Internal Revenue Service for the tax year 2021. 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 to complete. Tax returns are also processed more slowly by the IRS at the start and conclusion of tax season, as well as throughout tax season. Why? Because those days and hours are when the vast majority of taxpayers file their returns.

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.”

How Long Does It Take to Get Your Tax Refund in 2022?

If you e-filed your return, you should expect to get your refund more quickly through direct deposit as opposed to if you submitted your tax paperwork to the government. According to the IRS, traditional tax returns are mailed out within 6 to 8 weeks, but electronic tax returns are issued in less than 3 weeks, and again, much faster if direct deposit is utilized. Choose to obtain your refund through paper check, and the procedure will be significantly slowed; consequently, if you want to receive your money as soon as possible, e-filing and selecting direct deposit are the best options.

The length of time you must wait will vary depending on your financial institution.

After you have completed your taxes electronically, you will need to determine how you will receive your payment.

  • A debit card with the refund amount on it has been received. Purchase of up to $5,000 worth of United States Savings Bonds
  • Divvying up your return sum into as many as three different financial accounts in your name
  • Investment in an individual retirement account, Roth individual retirement account, or SEP-IRA

Members of Chime can pick “direct deposit” as a payment method on their tax return software. After that, you simply enter yourChime Checking Accountnumber and the accompanying routing number, and you’re done! From then, all you have to do is sit back and wait for your refund to appear in your account. Chime will notify you through text message and email when your refund has been processed. You will know that the money is there the moment you receive it if you do it this way. When selecting a delivery method, keep in mind that the method you choose will have an impact on how soon you receive your money.

How fast can I get my tax refund this year?

A common question we receive at Jackson Hewitt when it comes to taxes is “Will I get a tax refund?” This is one of the most significant questions we are asked. The good news of a “YES!” response prompts clients to inquire, “How quickly can I obtain my refund?” practically soon after learning of the positive outcome.

For millions of Americans, their tax refund seems like the greatest payment they’ll receive all year, making completing your taxes one of your most important financial obligations.

Tax refund timing

According to the IRS, the vast majority of refunds are processed and paid out within 21 days of the filing date. This clock begins ticking after the Internal Revenue Service (IRS) begins processing tax returns for the year, which is typically around the end of January. Taxpayers claiming theEarned Income Tax Credit (EITC) and/or theAdditional Child Tax Credit (ACTC) could anticipate their refunds to be delayed as a result of the PATH Act, which was passed in 2017. In accordance with tax legislation designed to safeguard a taxpayer’s identification and reduce/eliminate tax fraud, refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will commence funded after February 14.

It is critical that you file your tax return as soon as possible in order to receive your refund as soon as feasible.

See also:  Where To Send Amended Federal Tax Return?

What was the PATH Act?

Despite the fact that the PATH Act has been in effect for almost five years and that several other sorts of tax changes have happened since then, many taxpayers continue to have questions about how it has affected them. The PATH Act, which was signed into law in December 2015, had a variety of provisions intended to safeguard Americans against identity theft and tax fraud. It provided the Internal Revenue Service (IRS) extra time to analyze returns including certain tax credits, such as the Earned Income Tax Credit (EITC) and the American Opportunity Tax Credit (ACTC), as well as to match W-2 forms from employers with the individual tax return.

Refund identity theft

Last year, identity thieves targeted millions of taxpayers, taking millions of dollars from hardworking Americans in the form of refund checks. In 2016, the Internal Revenue Service (IRS) convened a Security Summit to prevent stolen identity refund fraud (SIRF). Every year, the Internal Revenue Service (IRS) improves its systems and processes to better safeguard you, the taxpayer, and your tax return. If you believe you have been a victim of tax identity theft or have had your identity taken, go to irs.gov and the Taxpayer Guide to Identity Theftpage for more information.

Will your refund be delayed?

In the end, how soon you receive your tax refund is determined by when you submit your taxes, how you choose to file them, and the credits and deductions you may be eligible to receive. While refunds, including the Earned Income Tax Credit and the American Opportunity Tax Credit, will not be paid out until February 15, filing early may still reap benefits. You are providing the Internal Revenue Service with ample time to analyze your return, validate your EITC and ACTC eligibility, and verify the legitimacy of your W-2, all of which are necessary before your return can be completed.

Tax credits, deductions, and getting your biggest refund

One of the first steps to obtaining the largest possible refund is to ensure that you do not lose out on any tax credits or deductions that you are entitled to. If your financial circumstances have changed since last year, you may be eligible for a number of new tax credits or deductions.

Given the possibility that you are not aware of your eligibility, a Tax Pro may assist you in ensuring that you do not miss out on any money. To receive an estimate of your tax refund, please use our Tax Refund Calculator.

Life changes and your tax refund

Due to the fact that tax credits and deductions are frequently linked to key life events, they may fluctuate from year to year depending on your individual circumstances. For example, getting married, having a child, or retiring all have the potential to have an influence on your tax liability. Take advantage of some of these frequently neglected opportunities.

The fast way to get your tax refund

There are a variety of options for getting money in advance. Filing your tax return as soon as feasible will increase your chances of being included in the initial wave of returns processed by the IRS. Electronic filing, often known as e-filing, allows you to submit your tax return to the IRS more quickly than mailing a paper form. If they get your return as soon as possible, they will be able to begin processing it right away. It is also more convenient to have your refund instantly deposited into your bank account rather than receiving a cheque in the mail.

Your refund will be accessible up to the time of the normal direct deposit method.

It makes a significant impact in the lives of the majority of our hardworking clients.

Starting your tax season early

The vast majority of taxpayers anticipate receiving their return as quickly as possible, however this is not always the case. Tax time loans may be available to you if you rely on your refund to meet your bills throughout the tax filing season. To find out more, schedule an appointment with a Jackson Hewitt Tax Professional. We are available and ready to assist you with your tax requirements in both neighborhood offices and those situated within Walmart stores.

the holiday shopping season

Depending on their projected federal income tax refund, loans are offered to clients who meet the eligibility requirements. If you need money for holiday shopping and other costs in the middle of December, such loans can make a significant difference. Alternatively, you may want to consider applying for an Early Refund Advance from MetaBank®, N.A., which is a no-fee, 0 percent APR loan offered to qualified clients who have their taxes prepared by Jackson Hewitt. Early Refund Advance loan amounts range between $200 and $700 for those who pay their taxes in 2020.

To apply, all you need to do is bring in your paystub or other appropriate income documentation.

Examine your eligibility for prequalification online before meeting with a Tax Professional.

The following terms and conditions apply.

Filing requirements

Prior to meeting with your Tax Pro, gather all of your tax paperwork together to ensure a smooth session and the fastest possible receipt of your return. You may begin the tax interview at Jackson Hewitt by bringing in your paystub or other income verification documents, and you can complete the majority of it there. Your living circumstances will decide which tax documents you need to bring with you – whether you are married, have children, are jobless, or are a small company owner – all of these factors have an influence on your taxes.

Here’s a handy checklist to make sure you’ve got everything you need to complete your taxes correctly.

Get your taxes done earlytrack your refund with MyJH

We at Jackson Hewitt understand that taxes may be confusing. That’s why we’re committed to assisting you in getting off to a strong financial start. Consult with a tax professional. Make certain that you receive the full reimbursement that you are entitled to. Understand your alternatives for submitting your taxes as early as feasible and receiving your refund as soon as possible. You may keep track of the status of your refund by creating a MyJH account, which is a secure online gateway where your return is stored.

2022 Estimated Income Tax Refund Date Chart – When Will You Get Your Tax Refund?

Updated at 10:17 a.m. Eastern Time on January 28, 2022. Is the tax filing season in 2022 going to be normal? Covid-19 is still a source of concern, and numerous stimulus tax regulations are still proving difficult for some filers to navigate. In addition, additional tax laws may have been adopted since then that have added to the complexity. Nonetheless, the income tax filing procedure is closer to regular than it was in either 2020 or 2021, which both had prolonged filing deadlines as a result of the closure of IRS offices, the tax courts, as well as the fact that IRS and tax company employees were unfamiliar with remote working.

  • Prepare to have your taxes submitted (or an automatic extension filed) by Monday, April 18, 2022 if you want to avoid penalties.
  • (This is also known as Emancipation Day.) Furthermore, the filing of federal and state income tax returns should revert to more typical levels as a result of the current situation.
  • For the same reasons as in previous years, early tax filers who are due a refund may frequently expect to get their funds by the middle or end of February.
  • Despite the fact that the Covid-19 epidemic had a substantial influence on the previous two tax filing seasons, and the IRS extended both deadlines as a result, the IRS did not extend the tax filing deadline for the year 2022.
  • If you haven’t received your IRS income tax refund within 30 days of filing, consult with your tax professional or utilize the “Where’s My Return?” function on the IRS website to track down your refund.
  • It takes as little as 2-3 weeks for the vast majority of Americans who are anticipating an income tax refund to get it by direct deposit, although this can take longer during the peak of filing season, which begins in late March and lasts into April.

There are a variety of circumstances that can influence when a person receives their tax return, including:

  • When they file their paperwork
  • If a taxpayer is claiming various tax credits (particularly the EITC and CTC), the following conditions apply: Whether the return is filed electronically or by mail
  • • Whether or not the taxpayer now owes money to the federal government
  • Covid stimulus payments made in 2020 and 2021 will have no effect on income tax refunds (although, certain taxpayers who did not get one may be found to have been entitled one, in which case they may be eligible to have it added as a credit = additional $$ to their 2022 refund). Consult with a tax specialist.)

Note: The Internal Revenue Service (IRS) will postpone processing an income tax return by 2-3 weeks if it includes the Earned Income Tax Credit (EITC) or theChild Tax Credit (CTC), because these benefits are frequently abused. The additional period gives the Internal Revenue Service (IRS) the opportunity to verify that taxpayers qualify for the credits. In any case, here’s the chart you were searching for: If the Internal Revenue Service modifies the tax filing season this year, we will update this graphic.

It is not accurate since every taxpayer has a unique set of returns and financial circumstances.

IRS Accepts E-Filed Return By: Direct Deposit Sent (Or Paper Check Mailed 1 week later):
IRS will start accepting income tax returns on Jan. 24, 2022.
Jan. 24, 2022 Jan. 31 (Feb. 11)*
Jan. 31, 2022 Feb. 11 (Feb. 18)**
Feb. 7 Feb. 18 (Feb. 25)**
Feb. 14 Feb. 25 (Mar. 4)**
Feb. 21 Mar. 4 (Mar. 11)**
Feb. 28 Mar. 11 (Mar 18)
Mar. 7 Mar. 18 (Mar. 25)
Mar. 14 Mar. 25 (Apr. 2)
Mar. 21 Apr. 1 (Apr. 9)
Mar. 28 Apr. 8 (Apr. 15)***

* = The IRS may postpone the start of tax season by a week or two. ** = Refunds for returns claiming the Earned Income Tax Credit or the Child Tax Credit may be postponed until March in order to validate credits. When filing during high season, expect to be subjected to somewhat lengthier wait times.

IRS Accepts Return By: Direct Deposit Sent (Or Paper Check Mailed one week later)
Apr. 4, 2022 Apr. 15 (Apr. 22)***
Apr. 11 Apr. 22 (Apr. 29)***
Apr. 18 Apr. 29 (May 6)
Apr. 25 May 6 (May 13)
May 2 May 13 (May 20)
May 9 May 20 (May 27)
May 16 May 27 (June 4)
May 23 June 4 (June 11)

IMPORTANT:If you file electronically (via the use of an online tax application or preparer), the Internal Revenue Service (IRS) will tell you of the exact date on which your return was “approved.” In most cases, this is 1-3 days after you actually press the “file” or “submit” button, and it is this date that you must use in the preceding chart. It is expected that taxpayers who send a paper version of their income tax return would have a three to four-week wait at the front end of the process, since the return must be manually input into the IRS system before it can be processed.

Be Safe – Hire a Professional

Customers who work with a professional, such as a CPA or an estate planning attorney, may inquire of that expert about an expected date for their tax return, and they can be more certain that their taxes have been correctly (and lawfully) filed. There are also applications available for Apple, Android, and other devices that allow you to follow the status of your refund.

Other Notes:

Returns containing refunds are typically completed and money provided within 21 days, according to the IRS’s guidelines. Paper filers, on the other hand, may have a substantially longer wait time. The Internal Revenue Service (IRS) and tax specialists actively urge electronic filing.

What If You Can’t File Your Income Taxes By April 18?

In the event that a taxpayer does not have all of the documents necessary to complete their taxes, they may quickly file an extension form, known as “Form 4868, Application for Automatic Extension of Time to File United States Individual Income Tax Return.” – The individual will have till October 15 to file their tax return as a result of this. There is no need to provide a cause or an explanation in order to acquire this extension, and as the title indicates, it is automatically given. However, if a person will owe taxes, they will still be required to pay those taxes by April 18, regardless of whether or not they have requested an extension to file their taxes.

This is something that a professional can help you with. In most cases, those who are entitled to a refund just need to submit a request for an extension by April 18. This task may be completed by any tax expert or by most do-it-yourself tax software tools.

Tax Refund Estimators:

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