It’s that time of the year again when Americans are getting ready to file their taxes. The deadline to file the taxes is April 18, 2023, but the IRS recommends that those who are expecting a refund should file as soon as possible.
Filing electronically will make receiving a refund easier as well, with refunds typically sent out in fewer than 21 days. The IRS has warned taxpayers that filing a paper form could result in delays, with some taking more than six months to arrive.
Due to the absence of COVID-19 pandemic-related tax credits, taxpayers can expect their refunds to be lower than in recent years. While the IRS no longer goes by the former calendar, taxpayers can still use it as a rough estimate of when their refund will arrive. The calendar takes into consideration the date the IRS received the return and the estimated refund date for direct deposit and paper checks.
How to check the status of your refund?
To check the status of a 2021 income tax refund, taxpayers can use the IRS tracker tool “Where’s My Refund?” They will need to provide personal information such as their Social Security number or Individual Taxpayer Identification Number, filing status, and the refund amount in whole dollars. After 24 hours from filing their taxes, taxpayers can go to the “Get Refund Status” page of the tool and enter their information. If the information is entered correctly, the status of the refund will be displayed. The tool provides information on the most recent tax refund on file within the last two years.
For information on prior years, taxpayers can check their IRS online account. This account will provide them with the total amount they owe, payment history, information from their most recent tax return, notices from the IRS, and their address on file. With these tools, taxpayers can keep track of their tax refunds and make sure they arrive on time.
The date the IRS receives your return will determine your estimated refund date.
If you file your return on any of the following dates: January 23, January 30, February 6, February 13, February 20, February 27, March 6, March 13, March 20, March 27, April 3, April 10, or April 17, your estimated refund date by direct deposit will be February 10, February 17, February 24, March 3, March 10, March 17, March 24, March 31, April 7, April 14, April 21, April 28, or May 5, respectively. If you’re expecting a paper check, the estimated refund date will be one week later for each date listed above.
To get your tax refund quickly, the IRS recommends filing your tax return electronically. This method is known to result in faster processing times and quicker delivery of your refund. By taking advantage of electronic filing, you can receive your refund in a matter of weeks, rather than waiting months for a paper return to be processed.