thehas begun, and for early filers, tax refunds will soon follow. But how long will you have to wait to receive your money and how do you track its progress?
Due to the COVID-19 pandemic,in processing tax returns this year. The agency recommends and this year, as it can help get your money back within 21 days, assuming there are no errors. “Filing a paper tax return this year means an extended refund delay,” IRS Commissioner Chuck Rettig said in a Jan. 24 statement.
Once you’ve filed your tax return, you don’t have to sit around knowing nothing. We’ll walk you through how to track your refund online using Where’s my refund? tool and how to verify your IRS account for more details. This story is updated frequently.
For more information on taxes, seehow to get the how can you and this could change the size of your refund this year.
How long will it take for my tax refund to arrive?
The IRS typically issues tax refunds within three weeks, but some taxpayers may have to wait a little longer to receive their payments. If there are any errors, or if you have applied for the working income tax credit or the child tax credit, the wait could be long.
When an issue delays your return, its resolution “depends on the speed and accuracy with which you respond, and the ability of IRS staff trained and working within social distancing requirements to complete processing your return. “, according to the IRS website.
The date you receive your tax refund also depends on the method you used to file your return. If you submitted a tax return by mail, the IRS says it could take six to eight weeks for your tax refund to arrive once it’s been processed.
If your tax refund goes, your bank may take an additional five days to transfer the money to your account. This means that if it takes 21 days for the IRS to issue your check and five days for your bank to mail it, you could be waiting a total of 26 days to get your tax refund.
How much will be included in my tax refund this year?
There are several things that could be added to your tax refund this year. As usual, if you overpaid your taxes in 2021, you’ll get that money back. However, if you are a parent, you can also expect to receive the rest of youras well as a refund of the money you spent on Last year.
Also, if you still miss your third stimulus payment, you may receive it when you receive your tax refund.
Why might my tax refund be delayed?
Here is a list of reasons why your income tax refund could be delayed:
- Your tax return contains errors.
- It’s incomplete.
- Your refund is suspected of identity theft or fraud.
- You have claimed the earned income tax credit or the additional child tax credit.
- Your statement requires further investigation.
- Your statement includes Form 8379 (PDF), Injured Spouse Allowance – this may take up to 14 weeks to process.
If the delay is due to a necessary tax correction made to a recovery refund credit, labor income tax, or additional child tax credit claimed on your return, the IRS will send you an explanation. If there is an issue that needs to be resolved, the IRS will first try to proceed without contacting you. However, if he needs more information, he will write you a letter.
How to use Where’s my refund? tool
To check the status of your 2021 income tax refund using IRS tracking tools, you will need to provide some personal information: your Social Security number or individual tax identification number; your filing status (single, married or head of household); and your refund amount in whole dollars, which you can find on your tax return. Make sure it’s been at least 24 hours (or up to four weeks if you mailed your return) before you start tracking your refund.
Using the IRS Where’s My Refund? tool, navigate to the Get Refund Status page, enter your personal data, and then press TP submit. If you have entered your information correctly, you will be redirected to a page indicating the status of your refund. If not, you may be asked to verify your personal tax data and try again. If all the information looks correct, you’ll need to enter the date you filed your taxes, as well as whether you filed electronically or on paper.
The IRS also has a mobile app called IRS2Go that checks your tax refund status. It is available in English and Spanish. You will be able to see if your return has been received, approved and sent. To log in, you’ll need your social security number, filing status, and expected refund amount. The IRS updates this tool’s data overnight, so if you don’t see a change in status after 24 hours or more, check back the next day. Once your return and refund has been approved, you will receive a personalized date to expect your money.
Where is my refund? has information on the most recent tax refund that the IRS has recorded for the past two years, so if you are looking for information on returns from previous years, you will need to check yourfor more information. With your own personalized account, you’ll be able to see the total amount you owe, your payment history, key information about your last tax return, notices you’ve received from the IRS, and your registered address.
What do these IRS tax refund statuses mean?
Both IRS tools (online and mobile app) will show you one of three messages to explain your tax filing status.
- Has received: The IRS now has your tax return and is working to process it.
- Approved: The IRS has processed your return and confirmed your refund amount, if you have one.
- Shipped: Your refund is now on its way to your bank via direct deposit or as a paper check sent to your mailbox. (Here’s how .)
Can I contact the IRS for more help?
Although you can try calling the IRS to verify your status, the agency’s live phone support is extremely limited. You should not file a second tax return or contact the IRS about the status of your return.
The IRS directs people to the Let Us Help You page on its website for more information. He also advises taxpayers to get help in person at Taxpayer Help Centers. You can contact your local IRS office or call to schedule an appointment: 844-545-5640. You can also contact the Taxpayer Advocate Service if you are eligible for assistance by calling them: 877-777-4778.
Although the chances of getting live assistance are slim, the IRS says you should only call the agency directly if it’s been 21 days or more since you filed your taxes online, or if the Where is my refund tells you to contact the IRS. You can call 800-829-1040 or 800-829-8374 during normal business hours.
I see an IRS TREAS 310 transaction on my bank statement. What does it mean?
If you receive your tax refund by direct deposit, you may see IRS TRES 310 indicated for the transaction. Code 310 simply identifies the transaction as a refund of a tax return filed in the form of an electronic payment (direct deposit). You can also see TAX REF in the description field for a refund.
If you see a 449 in the place of 310this means that your refund has been offset against an outstanding debt.
Why would my tax refund be mailed instead of direct deposit?
There are several reasons why your refund will be mailed to you. Your money can only be electronically deposited into a bank account in your name, your spouse’s name, or a joint account. If that’s not the reason, you may receive multiple refund checks, and the IRS can only deposit up to three refunds into a single account. Additional refunds must be mailed. Also, your bank may reject the deposit and that would be the best way for the IRS to get your money back to you quickly.
It is also important to note that for refunds, direct deposit is not always automatic. Just in case, log into your IRS account to verify that the agency has your correct banking information.