The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it's possible your tax return may require additional review and take longer.
The IRS typically processes tax refunds and executes direct deposit transactions within 21 days after accepting your tax return. It's common for the IRS to issue refunds on business days, from Monday through Friday.
The IRS does not release a calendar, but continues to issue guidance that most filers should receive their refund within 21 days. They also remind filers that many tax software programs allow you to submit your taxes before the start of tax season.
The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process.
"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.
After you verify your identity and tax return information using this service, it may take up to nine weeks to complete the processing of the return. Visit Where's My Refund? or use the IRS2Go mobile app 2-3 weeks after using this service to check your refund status.
Use the IRS Where's My Refund tool or the IRS2Go mobile app to check your refund online. This is the fastest and easiest way to track your refund. The systems are updated once every 24 hours. You can contact the IRS to check on the status of your refund.
IRS Refund Schedule for Direct Deposits and Check Refunds
They now issue refunds every business day, Monday through Friday (except holidays). Due to changes in the IRS auditing system, they no longer release a full schedule as they did in previous years.
If day 15 falls on a Saturday, Sunday or legal holiday, the due date is delayed until the next business day. Your return is considered filed on time if your envelope is properly addressed, postmarked and deposited in the mail by the due date.
Short answer: IRS sends electronic transfers to all financial institutions on Friday evenings to be posted the following Tuesday (Monday @ midnight) You can always check your pending transactions via online or mobile banking. It's been this way since 1987…
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.
While a person can choose direct deposit whether they file their taxes on paper or electronically, a taxpayer who e-files will typically see their refund in less than 21 days. Taxpayers can track their refund using "Where's My Refund?" on IRS.gov or by downloading the IRS2Go mobile app.
When does direct deposit hit? Funds that are directly deposited into a bank account typically go through before 9 a.m. but can arrive as early as midnight. The variability in the amount of time it can take is largely due to the payer's timeframe to release funds.
If your due date falls on a Saturday, Sunday, or legal holiday, the due date is moved to the next business day. For the 2023 tax return, the due date for most filers is April 15, 2024 (April 17, 2024, if you live in Maine or Massachusetts).
Information is updated once a day, overnight.
The IRS has given guidelines this year that 90% of tax filers should receive their refund within 21 days of filing. The IRS works weekends during tax season, so it's 21 days, not "business days".
While the exact day of the week that your refund will be deposited can vary, the IRS typically issues refunds on weekdays, Monday through Friday.
Yes. The 21 days includes weekends. However, some refunds can take longer, specifically those with refundable tax credits. If you have Earned Income Credit or Additional Child Tax Credit, your refund could be delayed for additional processing.
'Accepted' is an acknowledgment of receipt and initial screening, while 'approved' signifies that the IRS has verified the accuracy of your tax return. The IRS uses an electronic system to process tax returns filed electronically.
Generally, once your return is e-filed you will receive an acknowledgement email within 48 hours. This email will let you know if your return was accepted or rejected. Once the IRS has accepted your return, the amount of time that it will take to actually receive a refund may vary.
This means the IRS has processed your return and has approved your refund. The IRS is now preparing to send your refund to your bank or directly to you in the mail if you requested a paper check.
Taxpayers whose tax returns have been flagged for possible IDT should receive one of the following letters: Letter 5071C, Potential Identity Theft during Original Processing with Online Option – Provides online and phone options and is issued most widely.
What happens after I successfully verify? We'll process your tax return. It may take up to 9 weeks to receive your refund or credit any overpayment to your account. However, if we find other problems, we'll contact you again and this may delay your refund.