Tax season is in full swing as the deadline to file or request an extension is less than three weeks away, and some Americans who have already filed their returns are waiting to receive a refund from the IRS.
Nearly 70 million taxpayers filed their returns as of March 13, and most taxpayers can expect to receive their tax refund within three weeks of filing their return. The IRS has a tool taxpayers can use to track the status of refunds.
The IRS’ “Where’s my refund?” tool allows users to view whether their return has been received, if the tax refund has been approved and sent to the taxpayer via direct deposit.
Taxpayers need their Social Security number or taxpayer identification number, filing status, tax year and the exact amount of their federal refund from the tax return they want to check.
HERE’S WHEN TAXPAYERS WILL GET THEIR REFUNDS
The tool informs taxpayers when their refunds have been sent to their banks via direct deposit. It also says that if their refund hasn’t been credited to their account by a specific date, they should check with their bank to see if it has been received.
Taxpayers who e-filed their return for the current year can typically see their refund status within 24 hours using the refund tracking tool. Those who e-filed a tax return for a prior year can usually see it after three days. The refund status for tax returns that were filed using paper copies is available four weeks after filing.
The timeline for refunds to be received by the taxpayer also depends on how they filed their return. Taxpayers who e-filed their returns typically receive their refund about three weeks from the date they e-filed. Refunds for mailed tax returns are usually received six or more weeks from the date the IRS received the mailed return.
TAX FILING SEASON IS OFFICIALLY HERE: WHAT YOU NEED TO KNOW
The IRS also encourages taxpayers to enroll in direct deposit if they want to receive their refund faster because the agency began phasing out paper refund checks last fall. It will still send paper checks if no alternative is available for taxpayers. Options available for taxpayers without bank accounts include prepaid debit cards, digital wallets or other limited exceptions.
The IRS says that while it issues most refunds to taxpayers in fewer than 21 days, some returns may take longer to process as they require additional review or corrections.
For example, returns that claim the earned income tax credit are held by law until mid-February to prevent fraud, while the complexity of the additional child tax credit requires a deeper review. Common mistakes like forgetting to sign your return or making a math error can also cause delays.
TAX REFUND DELAYS HIT MULTIPLE STATES
If the IRS corrects the return, it may reduce or increase the refund amount that the taxpayer was owed based on their original filing. When this happens, the IRS will mail a notice explaining the adjustment to the taxpayer’s address of record.
Taxpayers who had to amend their tax returns after they were initially filed have a separate tool they can use to check on the status of their returns and any refunds they may be owed.
They can check the status using the “Where’s my amended return?” tool three weeks after it was filed. Amended returns typically take longer for the IRS to process and may require up to 16 weeks.
The IRS also offers other ways for taxpayers to check their refund status via the IRS mobile app and automated hotlines for refunds and amended returns.
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