Estimated tax refund dates are based on the IRS acceptance date and are not guaranteed by eFile.com or the IRS.
[The estimated refund date chart is below if you just want to scroll down.] Depending on when taxpayers file their returns, they can often receive their federal tax refund payment (direct deposit) within only 2-3 weeks. Paper check refunds can take a little longer.
More than 90% of tax refunds are delivered less than 21 days after tax returns are processed. The tax refund payment calendar below offers a rough estimate of when to expect a tax refund by direct deposit (approximately 14 days) and paper check by mail (approximately 21 days).
100% Accurate Calculations Guarantee – Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest.
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer. Once your return has been accepted by the IRS, only the IRS has any control. TurboTax does not receive any updates from the IRS.
If you realize you are owed an estimated tax refund, you'll need to request your money back from the IRS. When filing Form 1040, you'll need to include the address where you want your refund to be mailed.
Due to these factors, it's difficult to predict the exact time of day when the IRS will deposit the refund. In most cases, taxpayers receive their direct deposit refunds early in the morning on the expected deposit date.
(updated December 22, 2023) We issue most refunds in less than 21 calendar days. However, if you mailed your return and expect a refund, it could take four weeks or more to process your return.
If the Adjusted Gross Income (AGI) on your previous year's return is over $150,000 (over $75,000 if you are married filing separately), you must pay the lower of 90% of the tax shown on the current year's return or 110% of the tax shown on the return for the previous year.
One of those rules is that individuals must pay 90% of taxes as they earn or receive income during the year (not when their income tax return is due), either through withholding, estimated tax payments, or a combination of the two.
The IRS generally issues refunds within 21 days of when you electronically filed your tax return, and longer for paper returns. Find out why your refund may be delayed or may not be the amount you expected.
If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.
"IRS Accepted Return But Not Approved" Meaning
If a taxpayer receives the status update that their tax return was accepted but not approved, this means that the IRS has received their tax return, but they have not yet evaluated the information. Therefore, the taxpayer must wait to see if more action is required.
When will the IRS issue refunds in 2024? The IRS says that most taxpayers receive their refunds within 21 days. That means that if you file your taxes on January 29, the earliest day possible, you should receive your tax refund by February 19.
This means the IRS has sent your refund to your financial institution for direct deposit. It may take your financial institution 1 – 5 days to deposit the funds into your account. If you requested a paper check this means your check has been mailed. It could take several weeks for your check to arrive in the mail.
It boils down to this: If you're getting a sizable refund just about every year and you're having federal taxes held out of your pay, you're probably having too much held out for federal taxes. So when you get a big refund, you're just getting your own money back.
For 2022, 2021, 2020 and 2019, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than: $6,000 ($7,000 if you're age 50 or older), or. If less, your taxable compensation for the year.
If you didn't pay enough tax throughout the year, either through withholding or by making estimated tax payments, you may have to pay a penalty for underpayment of estimated tax.
Pay all of your estimated tax by January 16, 2024. File your 2023 Form 1040 or 1040-SR by March 1, 2024, and pay the total tax due. In this case, 2023 estimated tax payments aren't required to avoid a penalty.
The most convenient way to check on a tax refund is by using the Where's My Refund? tool. Taxpayers can start checking their refund status within 24 hours after an e-filed return is received. The tool also provides a personalized refund date after the return is processed and a refund is approved.
Accepted means your tax return was received and has passed initial inspection, such as correct Social Security number and correctly claimed dependents. It can take anywhere from a few days to three weeks for your return to go from acceptance to approval.
A federal return that's been 'accepted' means it has passed an initial screening, which includes some basic checks. Once it has entered this phase, its status will remain the same until it has been “Approved.” This would mean it has been processed and that the IRS has approved the release of your refund.
But if you are facing a serious financial hardship and need your refund immediately, the IRS can consider not following its usual procedures of taking the refund. Instead, it may release and expedite part or all the refund to help with your hardship. Note: The IRS can only expedite a refund held to pay an IRS debt.
The deposits for direct deposit of refunds are done overnight on Thursday nights so they appear in the bank account on Friday, according to the IRS timetable. The deposits are made one time each week, not every day. It depends on the bank, but generally you can see the deposit in your bank account on Friday morning.