The email confirmation often occurs in just a few minutes. You can also enter your bank account information to receive a direct deposit of your refund or make a payment online. When you file your return, avoid guessing on amounts reported by third parties such as banks, stock accounts, health insurance payments or mortgage interest, Peeler says.
Instead, obtain the exact amounts by checking your account online or from the paperwork sent by these companies. For instance, mortgage lenders send out statements Form giving the exact amount of interest you paid on your loan. Having mismatched amounts will cause a delay in your refund even if you understated the amount of a deduction. It has partnerships throughout the U. Ellen Chang is a freelance journalist who is based in Houston and writes articles for U.
Chang previously covered investing, retirement and personal finance for TheStreet. She focuses her articles on stocks, personal finance, energy and cybersecurity. She is a proud graduate of Purdue University and a lover of random acts of kindness, volunteering and cats and dogs.
Follow her on Twitter at ellenychang and Instagram at ellenyinchang. Lisa Rowan is a consumer finance writer for Forbes Advisor. Previously she was the Two Cents personal finance reporter at Lifehacker and a senior writer and on-air analyst at The Penny Hoarder.
Her first book, Money Hacks, was released in When she's not thinking about money, Lisa co-hosts a long-running weekly podcast, Pop Fashion, and is an avid baseball fan. Select Region. United States. United Kingdom. This can be a daunting task because refund holds can feel like audits. Best course: If you get a notice from the IRS about your refund hold, immediately investigate the cause. After you understand more about why the IRS delayed your tax refund, and how to respond to the IRS, do so right away to avoid further problems.
The IRS has the authority to take or hold your tax refund if they think your return isn't accurate and in other situations as well. Ever wondered if the IRS can take your paycheck, get your financial information or call you directly? The length of time it will take to resolve your tax problem depends on the type of issue and the complexity. Didn't get your expected tax refund? This link is to make the transition more convenient for you. You should know that we do not endorse or guarantee any products or services you may view on other sites.
Tax information center : IRS : Refunds and payments. For tax returns only: The IRS has indicated your refund may take more than the normal 21 days if you: claimed a Recovery Rebate Credit and the amount you claimed does not match what the IRS calculates you are eligible for. The deadline is Jan.
Here are some of the reasons why your tax refund may be delayed: Reason 1 — IRS Taking Your Refund When the IRS issues refunds, it mainly takes or reduces offsets refunds when taxpayers have debts to pay.
All or part of your refund may have been used offset to pay off past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or other federal nontax debts, such as student loans.
To find out if you may have an offset or if you have questions about an offset, contact the agency to which you owe the debt. We also may have changed your refund amount because we made changes to your tax return. This may include corrections to any incorrect Recovery Rebate Credit amount. Send the refund back to us.
More In Refunds. When is Where's My Refund Available? And while refunds typically take around 21 days to process, the IRS says delays could be up to days. The tax agency is also juggling stimulus checks , child tax credit payment problems and refunds for tax overpayment on unemployment benefits. The money could give families some financial relief but an overdue tax refund could also be a big help.
If you don't file your tax return soon, you'll likely owe late fees or more interest -- and you could be missing out on your tax refund, stimulus checks or child tax credit payments , which you may only be eligible for with your tax return. We'll share the latest on delayed federal tax refunds and what you can do in the meantime. But it's not easy to reach the tax agency by phone. We'll also explain what to do if you received a "math-error notice" from the IRS.
This story is updated frequently. The IRS usually issues tax refunds within three weeks, but some taxpayers have been waiting months to receive their payments.
If there are any errors, or if you filed a claim for an earned income tax credit or the child tax credit , the wait could be lengthy. If there is an issue holding up your return, the resolution "depends on how quickly and accurately you respond, and the ability of IRS staff trained and working under social distancing requirements to complete the processing of your return," according to its website.
The date you get your tax refund also depends on how you filed your return. For example, with refunds going into your bank account via direct deposit , it could take an additional five days for your bank to post the money to your account. This means if it took the IRS the full 21 days to issue your check and your bank five days to post it, you could be waiting a total of 26 days to get your money. 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.
Because of the pandemic, the IRS ran at restricted capacity in , which put a strain on its ability to process tax returns and created a backlog. The combination of the shutdown, three rounds of stimulus payments, challenges with paper-filed returns and the tasks related to implementing new tax laws and credits created a "perfect storm," according to a National Taxpayer Advocate review of the filing season to Congress.
The IRS is open again and currently processing mail, tax returns, payments, refunds and correspondence, but limited resources continue to cause delays.
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