After filing their federal tax, US citizens sit tight waiting for their tax returns. In 2024, funds worth $461.2 billion are expected to swoosh in the accounts of 117.6 million taxpayers. Citizens, however, still wait anxiously as it plays a major part in their yearly budgeting. According to the IRS website, most tax refunds are processed within about 21 days after the IRS receives the return. Online tax- filers stand a chance to get their returns faster as it goes through an automated IRS system of direct deposits and is directed by IRD guidance, Yahoo Finance reported.
However, people choosing to mail the relevant papers face a longer wait time as IRS officials skim past them manually. Also, certain lofty tax credits claimed by taxpayers—Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC)—-invite extra scrutiny and longer bureaucratic routes, which is another cause of delay.
The IRS is not legally allowed to send refunds for returns with EITC or ACTC until at least mid-February, so early filers claiming these credits often receive their refund around early March, as per the report by Yahoo Finance. The IRS provides estimated refund timelines depending on the date when a taxpayer files their return. For example, returns accepted in late January may get refunds by mid-February, while those filed closer to tax day may receive refunds in late April or early May.
If taxpayers want to know the exact status of their refund, the IRS offers an online tracking system. The first step to check refund status is to gather key information, including a Social Security number or ITIN, filing status, and the exact refund amount listed on the tax return. Taxpayers should also know which tax year they want to check because the IRS tracker asks for that information.
After collecting the details, people can visit the “Where’s My Refund” tool on the IRS website or use the IRS2Go mobile app to track their refund status. Refund status information usually appears within 24 hours after e-filing, but if a paper return was mailed, it may take up to four weeks before tracking becomes available.When checking refund status, taxpayers may see different messages that explain what stage their return is in.
The first possible message is “Return received,” which simply means the IRS has received the tax return but has not finished processing it yet, as stated by Yahoo Finance. Another update is “Refund approved,” which means the return has been processed and the refund is ready to be sent. The final message is “Refund sent,” which means the money has already been deposited into the bank account listed on the return or a paper check has been mailed.
Even after the IRS sends the money, it may still take up to five business days for the funds to appear in the taxpayer’s bank account depending on the bank. Sometimes the refund tracker may also ask taxpayers to take further action, such as sending more documents or filing an amended return if the IRS needs additional information.
Experts say this does not automatically mean the taxpayer is being audited, but it does mean the return needs corrections before a refund can be issued. The second reason is claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC). These refunds are often delayed due to federal rules designed to prevent fraud. Because of these legal restrictions, the IRS usually does not release refunds with these credits until mid-February, which pushes many payments into early March.
The third reason is filing a paper tax return instead of filing electronically. Paper returns take longer because IRS employees must manually review and process them. Delays can become even longer if the taxpayer also chooses a paper check instead of direct deposit. The fourth possible reason is identity theft or tax fraud. If the IRS suspects someone else may have filed using your identity, the agency may pause the refund while investigating. In such cases, taxpayers should follow guidance from the IRS identity theft resources for individual taxpayers to resolve the issue.
Many taxpayers also ask if they can speed up their refund, but the IRS says there is no special fee or process that can make refunds arrive faster as per Yahoo Finance citing IRS guidance. However, people can reduce delays by checking their return carefully, filing electronically, and selecting direct deposit for the refund.
Taxpayers who want to track a state tax refund must use their state’s Department of Revenue website because the IRS tracker only works for federal returns. Experts say taxpayers should contact the IRS if more than 21 days have passed since e-filing or more than six weeks have passed since mailing a return and the refund has still not arrived.
However, people choosing to mail the relevant papers face a longer wait time as IRS officials skim past them manually. Also, certain lofty tax credits claimed by taxpayers—Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC)—-invite extra scrutiny and longer bureaucratic routes, which is another cause of delay.
The IRS is not legally allowed to send refunds for returns with EITC or ACTC until at least mid-February, so early filers claiming these credits often receive their refund around early March, as per the report by Yahoo Finance. The IRS provides estimated refund timelines depending on the date when a taxpayer files their return. For example, returns accepted in late January may get refunds by mid-February, while those filed closer to tax day may receive refunds in late April or early May.
If taxpayers want to know the exact status of their refund, the IRS offers an online tracking system. The first step to check refund status is to gather key information, including a Social Security number or ITIN, filing status, and the exact refund amount listed on the tax return. Taxpayers should also know which tax year they want to check because the IRS tracker asks for that information.
After collecting the details, people can visit the “Where’s My Refund” tool on the IRS website or use the IRS2Go mobile app to track their refund status. Refund status information usually appears within 24 hours after e-filing, but if a paper return was mailed, it may take up to four weeks before tracking becomes available.When checking refund status, taxpayers may see different messages that explain what stage their return is in.
The first possible message is “Return received,” which simply means the IRS has received the tax return but has not finished processing it yet, as stated by Yahoo Finance. Another update is “Refund approved,” which means the return has been processed and the refund is ready to be sent. The final message is “Refund sent,” which means the money has already been deposited into the bank account listed on the return or a paper check has been mailed.
Even after the IRS sends the money, it may still take up to five business days for the funds to appear in the taxpayer’s bank account depending on the bank. Sometimes the refund tracker may also ask taxpayers to take further action, such as sending more documents or filing an amended return if the IRS needs additional information.
4 key reasons your tax refund might be late
The first common reason for a delay is errors or missing information in the tax return. If the IRS finds mistakes or incomplete details, the return may need extra review. In such cases, the IRS may ask the taxpayer to file an amended return, which can slow down the refund process.Experts say this does not automatically mean the taxpayer is being audited, but it does mean the return needs corrections before a refund can be issued. The second reason is claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC). These refunds are often delayed due to federal rules designed to prevent fraud. Because of these legal restrictions, the IRS usually does not release refunds with these credits until mid-February, which pushes many payments into early March.
The third reason is filing a paper tax return instead of filing electronically. Paper returns take longer because IRS employees must manually review and process them. Delays can become even longer if the taxpayer also chooses a paper check instead of direct deposit. The fourth possible reason is identity theft or tax fraud. If the IRS suspects someone else may have filed using your identity, the agency may pause the refund while investigating. In such cases, taxpayers should follow guidance from the IRS identity theft resources for individual taxpayers to resolve the issue.
Many taxpayers also ask if they can speed up their refund, but the IRS says there is no special fee or process that can make refunds arrive faster as per Yahoo Finance citing IRS guidance. However, people can reduce delays by checking their return carefully, filing electronically, and selecting direct deposit for the refund.
Taxpayers who want to track a state tax refund must use their state’s Department of Revenue website because the IRS tracker only works for federal returns. Experts say taxpayers should contact the IRS if more than 21 days have passed since e-filing or more than six weeks have passed since mailing a return and the refund has still not arrived.
FAQs
Q1. Why is my IRS tax refund taking longer than 21 days?Your IRS tax refund may be delayed if your return has errors, you claimed credits like EITC or ACTC, you filed a paper return, or the IRS needs extra review due to possible identity theft.
Q2. How can I check the status of my tax refund?
You can track your federal tax refund by using the IRS “Where’s My Refund” tool or the IRS2Go mobile app with your Social Security number, filing status, and refund amount.
