Taxpayers eagerly awaiting their refunds may encounter delays this year due to various factors. This article explores the reasons behind these delays and provides guidance on what to do if your refund is taking longer than expected.
Reasons for Refund Delays
1. Errors or Incomplete Returns
Mistakes or missing information on your tax return can trigger a delay while the IRS reviews and corrects the errors.
2. Identity Theft or Fraud
If the IRS suspects identity theft or fraudulent activity, your refund may be delayed for further investigation.
3. Child Tax Credit or Recovery Rebate Credit Issues
Inaccurate claims or errors related to the child tax credit or recovery rebate credit can also lead to delays.
4. Earned Income Tax Credit or Additional Child Tax Credit
Returns claiming the earned income tax credit or additional child tax credit are subject to additional scrutiny, which can result in delays.
5. Injured Spouse Allocation
Filing Form 8379, Injured Spouse Allocation, can delay your refund by up to 14 weeks.
6. Bank Processing Time
Once the IRS issues your refund, it may take additional time for your bank or credit union to process and deposit the funds into your account.
What to Do if Your Refund Is Delayed
1. Check the Status
Use the IRS’s “Where’s My Refund?” tool to track the status of your refund. Wait 24 hours after filing electronically or four weeks after mailing your return before checking.
2. Contact the IRS
If your refund is significantly delayed, you can contact the IRS by phone or visit a Taxpayer Assistance Center. However, the IRS may only be able to provide information if it’s been 21 days since filing electronically or six weeks since mailing your return.
3. Be Patient
While delays can be frustrating, it’s important to be patient and allow the IRS time to process your return. Most refunds are issued within 21 days for those who file electronically and choose direct deposit.
Understanding the reasons for tax refund delays can help you manage your expectations and take appropriate action. By filing an accurate and complete return, avoiding identity theft, and being patient, you can increase the likelihood of receiving your refund in a timely manner.
IRS Tax Refund Update – Delays and Smaller Refunds
FAQ
Should I be worried if my refund is still being processed?
How long is too long to wait for tax refund?
Why is my tax return taking so long 2024?
How long does a tax refund take?
WASHINGTON — Even though the Internal Revenue Service issues most refunds in less than 21 days for taxpayers who filed electronically and chose direct deposit, some refunds may take longer. Many different factors can affect the timing of a refund after the IRS receives a return.
Why is my tax refund delayed?
Your refund may be delayed if you chose direct deposit but the bank account owner information doesn’t match up with the filing status on the return – for example, you might have had the refund deposited into an account for one spouse if you filed jointly, Weltman says. In that case, the refund may be delayed and the IRS may send a paper check.
Why does my refund take so long?
Some reasons won’t require any additional work on your part. This is the case if you claim certain credits or if you file at certain times. Filing a paper return or receiving your refund as a paper check will also slow things down. Other reasons for delay might be that you made a mistake or omitted information.
What happens if the IRS takes your tax refund?
When the IRS issues refunds, it mainly takes or reduces (offsets) refunds when taxpayers have debts to pay. Here are the two most common situations: If the IRS took your refund to pay federal income taxes you owe, you’ll know it a few weeks after you file your return. You’ll get IRS notice CP49, Overpayment Applied to Taxes Owed.