As tax season approaches in the United States, it’s essential to organize your documents and file your taxes promptly. The standard filing deadline is April 15, but by submitting Form 4868, taxpayers can obtain a six-month extension, extending the deadline to October 15.
In the previous year, the IRS processed approximately 267 million returns, a number expected to increase slightly this year.
For those who have already filed, understanding when to expect your tax refund and how to track it is crucial.
When Will I Receive My Tax Refund?
The IRS typically issues refunds within 21 days of receiving your return. However, the exact timing depends on when you file and your chosen refund method. Filing electronically and opting for direct deposit can expedite the process. Conversely, paper filings and receiving a check by mail may result in longer wait times.
How to Track Your Tax Refund
To monitor your refund status, the IRS offers several tools:
- IRS Website: Use the “Where’s My Refund?” tool available on the IRS website. You’ll need your Social Security number, filing status, and the exact refund amount to access your information.
- IRS2Go App: This mobile application provides real-time updates on your refund status and is available for both iOS and Android devices.
- Phone: If it’s been more than 21 days since you e-filed or six weeks since you mailed your return, you can contact the IRS directly at 800-829-1040.
By staying informed and utilizing these resources, you can effectively track your tax refund and plan accordingly.
When you file your tax return electronically with accurate and complete information, you can expect to receive your refund within 21 days. Opting for direct deposit can expedite this process.
If you choose to mail your return, refunds are typically issued within six to eight weeks from the date the IRS receives your filing, provided all information is accurate and complete.
How to Track Your Tax Refund
To monitor the status of your refund, utilize the “Where’s My Refund?” tool available on the IRS website. You’ll need your Social Security Number or Individual Taxpayer Identification Number, filing status, and the exact refund amount.
Do Most Taxpayers Receive a Refund?
Yes, approximately two-thirds of taxpayers receive refunds. In the most recent year, the average refund amount for individuals was $3,143.
