In 2020, the IRS collected almost $3.5 trillion dollars in gross taxes, while issuing almost 122 million refunds. If you’re a taxpayer that is expecting a refund, you may be wondering how long it will take for the IRS to process your refund after you’ve submitted your return.
How long does it take to get a tax refund?
The IRS has stated that they issue 9 out of 10 refunds within 21 days of filing. Of course, this is assuming that the tax return you sent to the IRS was complete and accurate. So, if you’re owed a refund, most of the time you can expect it to be on its way back to you within three weeks from when you’ve filed.
How can you check your refund status?
The easiest way to check on your refund status is to use the IRS tool “Where’s My Refund”, which provides taxpayers with a simple way to check that their return was accepted and the current status of any refund. To log in using this tool, you’ll need your Social Security number or ITIN and your exact refund amount, in addition to your filing status.
The Where’s My Refund tool is available 24 hours after you e-file or 4 weeks if you’ve mailed a return, and updates are made overnight. If you’re using your phone to check your refund status, the IRS has an app you can download called the IRS2Go app, which is a mobile way to check your refund status.
How can I get my refund earlier?
While there are no guarantees, the best way to ensure that your tax refund is processed in a timely manner is to be sure your return is complete and accurate without error, and to e-file. Having a tax professional, like Diversified Tax, help with your return can give you peace of mind that your tax return is accurate and complete.
If you’re doing it yourself, reducing errors in your return helps with expediting the processing. Check that your name, address, and all the numbers that you’ve entered are correct. Type where you can to avoid handwriting, and submit the information online where possible. If you’re requesting a direct deposit, ensure that you’ve provided an accurate bank account and routing number. Don’t forget to sign your return.
There are specific scenarios in your 2021 return that may trip you up during filing as well. Double-check that your
Child Tax Credit amounts match what you’ve received in any advanced payment throughout the year, letter 6419 from the IRS, against what you’ve stated in your tax return.
What causes a delay for my tax refund?
There can be several potential causes for refund delays. Any errors or omissions to your return will cause a delay. Paper returns, mailed returns, and requests for paper checks are all longer to process than their electronic counterparts and may cause a delay.
If your return needs a correction to the Recovery Rebate Credit amount, this also results in a delay. If you’ve experienced identity theft or fraud in the previous tax year, your return may take longer to process than it typically does.
The IRS has stated that for returns with the Recovery Rebate Credit, the Earned Income Tax Credit, and the Additional Child Tax Credit, taxpayers may expect that refunds could take more than 21 days – up to 90 or even 120 days for processing.
If it’s been over 21 days since you’ve e-filed, you can give the IRS a call to check on your status. Just be aware that due to the pandemic, they’ve experienced staffing shortages and you may have a longer wait time to reach someone to talk to.