E-filers are able to access their status within 24 hours of filing, while paper-filers need to wait at least four weeks before checking. The extended May 17, , deadline to submit your tax return is really just around the corner. Skip Navigation. Follow Select. Our top picks of timely offers from our partners More details. SoFi Personal Loans. LightStream Personal Loans. We may receive a commission from affiliate partner links. Click here to read more about Select.
Click here to read our full advertiser disclosure. Combining both direct deposit and electronic filing can greatly speed up your tax refund.
Since filing electronically requires the use of a tax software program, it can flag errors that may cause processing delays by the IRS. Most simple tax returns e. If your tax situation is more complicated— if you sold property, paid business expenses or earned investment or business income, for example—you should consider hiring a tax professional.
Having a knowledgeable tax professional, such as an enrolled agent, certified public accountant CPA or other tax professional can help review your tax return and identify any mistakes that may slow down the processing of your tax refund. Double checking your tax return prior to submission can ensure your tax refund is processed quickly.
Failure to do so may cause the IRS to delay the processing of your tax refund. Here is a list of questions to review prior to filing your tax return to ensure the IRS processes your tax refund as quickly as possible.
You will need to input your Social Security number, filing status and your expected refund amount. The IRS updates your tax refund information within 24 hours after e-filing and updates the tool daily. If you filed your tax return by mail, expect longer processing times and delays. If you do not have access to online tools, you can also contact the IRS by phone, at to obtain the status of your refund. Wait times average 15 minutes or longer during the peak of tax season.
If you claimed these credits, the IRS started to issue these tax refunds the first week of March if you claimed these credits. Your financial institution may also play a role in when you receive your refund.
Since some banks do not process financial transactions during the weekends or holidays, you may experience a delay in processing. If you opt to receive your tax refund by paper check, use our tax refund schedule to determine when you can expect to receive your refund. Finally, you can expect your tax refund to be delayed if you filed an amended tax return. The IRS processes amended tax returns from three weeks up to 16 weeks after receipt.
You can check the status of your amended tax return here. Check out more of her work at kemberley. Select Region.
United States. United Kingdom. Kemberley Washington. Forbes Advisor Staff. If you claim certain tax credits, the earliest you will receive your tax refund is the first week of March. You can access your refund information with the tool within one day of filing electronically or about a month after you send your return by mail.
To use the tool, you must provide your Social Security number or individual taxpayer identification number ITIN , your tax filing status, and your exact refund amount. The tool will identify which stage your refund is currently in Return Received, Refund Approved, Refund Sent, or another explanation of what is happening.
You should only contact the IRS directly about the status of your tax refund if:. The economic crisis has also affected this rule. As of Sept. Here are some ways to put the money to good use. To ensure a quick turnaround with your tax refund, file electronically and request direct deposit.
Mailing your tax return the old-fashioned way can result in unnecessary, inconvenient, and substantial delays. The sooner you can get your refund, the sooner you can start investing it. Internal Revenue Service. Accessed Sept. United States Postal Service. Securities and Exchange Commission. Income Tax. Finances With Children. Your Privacy Rights. To change or withdraw your consent choices for Investopedia.
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I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Taxes Income Tax. Key Takeaways You may receive a refund if you overpaid your income taxes or if you claimed a nonrefundable income tax credit. Taxpayers who file electronically and request direct deposit will receive their refunds first.
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