When to expect your refund. To process your refund, it usually takes: Up to 21 days for an e-filed return. 4 weeks or more for amended returns and returns sent by mail.
The IRS expects more than 140 million individual tax returns for tax year 2024 to be filed ahead of the April 15 deadline, the agency said. The IRS expects to issue most refunds via direct deposit in less than 21 days, according to the agency, but some returns may require additional review that takes longer to process.
After the IRS accepts your return, it typically takes about 21 days to get your refund.
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.
Refunds to debit cards tend to take between two and five business days, but it can take up to 30 days depending on the company issuing the refund.
Tracking the status of a tax refund is easy with the Where's My Refund? tool. It's available anytime on IRS.gov or through the IRS2Go App. Taxpayers can start checking their refund status within 24 hours after an e-filed return is received.
The U.S. Treasury Department (which issues refunds for the IRS) issues both checks and direct deposits Monday - Friday so there is no way to know by day of the week which yours is.
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.
For early filers: The IRS cannot send out refunds for returns claiming the additional child tax credit until mid-February, as per the law. If you go for direct deposit, file online, and make sure your return is error-free, the IRS says you should see your refund in your account by February 27, 2024.
Some taxpayers may get a jump on taxes and start their tax preparation before the IRS opens, but it's important to note that you can only truly file them when the IRS is open (meaning send them to the IRS via e-file). Generally, this first day to file taxes is in late January.
This means the IRS experienced a higher volume than normal of electronic payments, which has caused a significant delay in processing payment records for payments received on or after April 18, 2024.
US News & World Report in an article titled “When To Worry If Your Tax Refund Is Delayed” gives several reasons why you could be experiencing tax refund delays in 2023. Return Errors – A return can be held up because of simple math mistakes, forgetting to sign, incomplete forms, incorrect SSN, etc.
You can't claim the EIC unless your investment income is $11,600 or less. If your investment income is more than $11,600, you can't claim the credit. Use Worksheet 1 in this chapter to figure your investment income.
Most taxpayers receive their refunds within 21 days of filing. The IRS says it issues 90% of refunds in that timeframe. If you choose to have your refund deposited directly into your account (eight out of 10 tax filers opt for direct deposit), you may have to wait five days before you can gain access to it.
Some tax returns need extra review for accuracy, completeness, and to protect taxpayers from fraud and identity theft. Returns that fall into this category can take longer to process. Disaster-related returns may take longer to process than tax returns not claiming disaster relief.
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…
Day of the week for IRS refund deposits
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 them on business days, from Monday through Friday.
Why is my refund taking so long? A refund will take longer if you file by mail or don't select direct deposit. In addition, if the return is more complex or corrections are needed, it may slow the process down.
Individual returns
Electronically filed Form 1040 returns are generally processed within 21 days. We're currently processing paper returns received during the months below.
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.
You're much more likely to get a refund if you return an item within 30 days. After that, you're more likely to get a repair, replacement or partial refund. Ask the store to note on the receipt if you're buying an item as a gift.
Check Refund Status
tool or by calling the IRS tax refund hotline at 1-800-829-1954. Be sure to have a copy of your return available since you will need to know the first Social Security number shown on your return, the filing status, and the exact whole dollar amount of your refund.