Accepting and processing federal individual tax returns, the Internal Revenue Service effectively commenced the 2024 tax season on January 29. Taxpayers can tax refund payments in as little as two to three weeks, depending on when they file their returns. Refunds for paper checks may take a little longer.
When is the IRS Issuing Refunds 2024
After tax returns are processed, more than 90% of refunds are issued in less than 21 days. An approximate time frame for receiving a tax refund via direct deposit (about 14 days) and a paper check via mail (about 21 days) can be found in the tax refund payment estimated calendar below.
If an early tax filer has their refund directly deposited, they can typically see it as early as mid- to late-February. The IRS receives a large amount of submissions from mid-March through April, which may cause delays in refunds.
|Tax Filing Method
|Tax Refund Period
|E-file & Direct Deposit
|Paper File by Mail & Direct Deposit
|E-file & Paper Check by Mail
|Paper File & Paper Check by Mail
The legislation requires the IRS to hold those refunds until mid-February, so according to the IRS, taxpayers won’t be able to get their money until approximately February 27.
On the other hand, keep in mind that while the IRS verifies eligibility for the Earned Income Tax Credit, Additional Child Tax Credit, and a few other credits, filers will often see a one-month delay in their refunds.
Why is the 2024 IRS tax return late?
There are a lot of reasons why your tax return can be delayed, so it’s hard to predict when the issue will be resolved. There are situations where a IRS tax refund could be weeks or even months away. There are more reasons why your refund can be delayed, including:
- If further review is required regarding wrong information.
- Fraud and identity theft have an impact on it.
- Because of questionable activities, the bank forwarded it to the IRS.
- It also contains a Form 8379 for an Injured Spouse Allocation, or a claim for an Earned Income Tax Credit or an Additional Child Tax Credit.
How do I find my IRS tax refund Status for 2024?
The IRS’s Where’s My Refund? page is the easiest way to keep track of your tax refund and will also inform you if your return has been rejected due to inaccuracies.
You will need to enter your Social Security number or Individual Taxpayer Identification Number, your filing status (married, single, or head of household), and the total amount of your return in whole dollars in order to utilise the IRS’s tracking tools.
- Access the IRS website’s “Get Refund Status” page, fill out the form, and then hit “Submit.”
- You might be prompted to confirm your personal tax information and try again if you aren’t directed to a page that displays the status of your refund.
- You must input the date of your tax filing, along with whether you filed electronically or on paper if everything else appears to be accurate.
- When tracking a return that was mailed, wait up to four weeks, but make sure it has been at least 24 hours.
- You will see one of three updates on the IRS tools describing the status of your tax return: received, approved, or sent in.
How can taxpayers in 2024 prevent delays in their refunds?
Accidentally mistakes committed in a hurry can result in the rejection of your tax return or a months-long delay in your tax refund. Here are some pointers to help taxpayers prevent refund delays in 2024:
- Select direct deposit and electronically file your return. This method of obtaining your refund is the quickest and most effective. Most electronically submitted returns with direct deposit, according to the IRS, are processed in less than 21 days.
- Submit your tax return ahead of time. The IRS can process your return and issue your refund more quickly if you file early. Most taxpayers have until April 15, 2024, to file, although you can start as early as January 29, 2024.
- If you are ineligible, do not claim the Additional Child Tax Credit (ACTC) or the Earned Income Tax Credit (EITC).
- Make copies of every tax document you possess. This will assist you in the event that you need to file an amended return or need to confirm any information with the IRS.
- Verify your return a second time for accuracy. Your refund may be delayed if the IRS finds and fixes errors on your return. Verify that all of the information you have is accurate.
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