You’ve completed your tax forms, submitted them for review, and they’re in the processing phase. Now, you’re wondering how long the process could take. Typically, 21 days is the average time to get a tax refund counting from the day you file. However, there are specific factors that you should consider as you wait.
Some individuals file their returns incorrectly yet don’t realize such until they receive notice from the IRS. Although a mistake is easy, it can cost you money, and you could face a penalty. The IRS could hold you accountable even if you accidentally miscalculate your wages; or if you enter an incorrect address.
E-filing your return can ensure that you avoid typical errors that can delay your refund. Some common inaccuracies include:
- Unsigned Forms
- Incorrect Math Calculations
- Missing Bank Account Numbers
- Back Taxes
- Outstanding Debt
Ensure that you’re free of issues that could slow the process and render your return invalid. Fill in each required field and double-check your forms. If the time frame has passed and you’re still waiting, consider the likely reasons for the delay.
Tax Return Acceptance
After you submit your return, you may have to wait two weeks before it passes the initial inspection. The best time to begin looking for your refund is after the approval phase, which entails another waiting period. Every situation is different and you shouldn’t compare your experience with that of another taxpayer who is experiencing an issue.
You can track the status of your refund using a tool that updates changes regularly. Use the same information you entered on your forms into the IRS system. Examples are your social security number, filing status, and your exact refund amount. A quick, accurate result is likely if you provide every specific detail correctly.
Using a tax preparer won’t speed up the procedure. You have a better chance of receiving your refund within the typical period if you use e-file software.
Method of Payment
Direct deposit is the standard yet quick method to receive your money. If you don’t have a bank account, a paper check is the default payment type used to issue monies. However, the wait is extended and could take up to ten weeks.
If your address has changed, it’s your responsibility to notify the IRS while your status is in the review stage. Wire transfers are also allowed for same-day transactions and debit cards are accepted due to their connection to an active checking account.