The Internal Revenue Service (IRS) reminded taxpayers on its website that the fastest and easiest way to check your tax refunds is by using the Where’s My Refund? page. or via the IRS2Go mobile app.
The IRS reminds taxpayers who normally don’t have to file a tax return, but may want to do so this time more than ever because they can get credits child-related taxes that were expanded by the American Rescue Plan and that include the Child Tax Credit and the Child and Dependent Care Credit.
The tax agency reminds citizens that filing Electronic and direct deposit are the safest and fastest way to file an accurate return to receive your tax refunds as quickly as possible.
Taxpayers can use the Where’s My Refund? to begin checking the status of your filing within 24 hours after receipt of an electronically filed return or four weeks after the taxpayer submits a return in paper.
The tool tracker shows progress through three steps:
1. Return received,
2. Refund approved and
3. Refund Sent
Most refunds are issued within 21 days, but some may take longer for different reasons:
– The return includes a claim for the Earned Income Tax Credit or the Additional Child Tax Credit.
– The return may require additional review.
– The return may include errors or be incomplete.
– The return could be affected by identity theft or fraud.
– The time between the IRS issuing the refund and the bank posting it to an account may vary, as many banks do not process payments on weekends or holidays.
And if necessary, the IRS will communicate with taxpayers via mail , in case you need more information to process a return.
The IRS explains that due to changes made by the Protecting Americans from Tax Hikes Act, the IRS cannot issue refunds of the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. This includes the entire refund, not just the portion related to the credit claimed on a tax return.
Also note Where’s My Refund? and IRS2Go are updated for most early EITC/ACTC filers with an estimated deposit date of February 19, if you file your taxes early.
If a taxpayer claimed EITC or ACTC, you can expect to receive your refund on March 1 if:
– File your return online,
– Choose to receive your refund by deposit direct y
– No problems were found with your return.
You may also be interested in:
– Avoid withholding too much or too little tax from your wages by using the Withholding Estimator tool. IRS taxes
– 5 common mistakes when filing taxes that can cost you a lot of money
– IRS publishes list of clinics for low income taxpayers