Tax refund payments often get even faster than expected. However, sometimes it takes much longer than the common period of time. Some people worry that they may have lost their tax refund if they do not receive it within 21 days. Bear in mind that if you filed your tax return on paper it could take up to six months. So it is advisable that you avoid this method. Because it often takes even more than that and there is no need to wait that long.
According to the Internal Revenue Service -IRS, they sort 90% of tax refund payments in less than 21 days. There is no need to worry if there is a delay. It could be due to the fact that the IRS needs to check something or that some documents or information is missing. Anyway, it will help you be more relaxed if you check the IRS website Where’s My Refund?
Can a Tax Credit delay my tax refund?
Not at this stage, unless the IRS believes that you are not eligible to claim any Tax Credit like the Additional Child Tax Credit or the Earned Income Tax Credit. It could be the case that they want to request you more information and then your tax refund is delayed. Those who claimed a Tax Credit in January may have had to wait until February 28 to get their tax refund though.
The IRS cannot send ACTC or EITC refunds before mid-February by law. Once more, use the IRS tool Where’s My Refund to get updated information. In this way, you can track your tax refund status in just 24 hours after filing your tax return. If it is a tax return from 2020 or 2021 it could be available up to four days later.
What other factors could delay my IRS checks?
Apart from errors or returns that are not complete, you may owe money to the IRS. Sometimes taxpayers forget to update the bank account number if they changed it. Unfortunately, some people are affected by identity theft or fraud which could delay the process too. Having an amended tax return will certainly delay the normal period to get a tax refund.
Sometimes the IRS has more tax returns to deal with and they may struggle to process them on time. That could be the reason why your tax refund has not arrived yet and it has nothing to do with you. Do not call the IRS until they tell you so in the tool Where’s my refund? The first stage is that they received your tax return, the second one they approved your refund and the third your refund has been sent.
To avoid delays gather all the information and necessary documents, double-check everything and hire a tax preparer if you want to forget about this annoying process. Never file a tax return on paper unless there is no other alternative. Request a direct deposit for your tax refund and be one of those who receive it quickly. Follow the status of your tax return and do what the IRS requests if they need further information.