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What to Expect from the IRS Refunds This Year

Ago 28, 2023 | IRS - Internal Revenue Service, US Tax Return 1040 / 1040NR | 0 Comentarios

The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it’s possible your tax return may require additional review and take longer.

If Your Refund Isn’t What You Expected

If your refund amount isn’t what you expected, it may be due to changes we made to your tax return. These may include:

  • Corrections to any Recovery Rebate Credit or Child Tax Credit amounts
  • Payments on past-due tax or debts, offset from all or part of the refund amount

For more details, see Tax Season Refunds Frequently Asked Questions.

Where’s My Refund?

You can find the most up to date information about your refund on Where’s My Refund? The tool is updated daily so you don’t need to check more often.

You can use the tool to check the status of your return: 4 weeks or more after filing a paper return.

Where’s My Refund? has a tracker that displays progress through 3 stages: (1) Return Received, (2) Refund Approved and (3) Refund Sent.

You will get personalized refund information based on the processing of your tax return. The tool will provide an actual refund date as soon as the IRS processes your tax return and approves your refund.

Call the IRS about your refund status only if Where’s My Refund? directs you to contact us.

Direct Deposit

Join the nine in 10 taxpayers who get their refunds faster by using direct deposit. It’s always been the easiest, safest, and fastest way to receive your refund.  Just select it as your refund method through your tax preparer, type in the account number and routing number, or tell your tax preparer you want direct deposit. You can use direct deposit if you are filing by paper. Be sure to double check your entry to avoid errors.

Your routing and account numbers can be found on the bottom of your checks, through your online banking application or by contacting your financial institution directly. Do not enter the number on your bank card.

If you have a prepaid debit card, you may be able to have your refund applied to the card. Many reloadable prepaid cards have account and routing numbers that you could provide to the IRS. You would need to check with the financial institution to ensure your card can be used and to obtain the routing number and account number, which may be different from the card number.

Your refund should only be deposited directly into U.S. bank or U.S. bank affiliated accounts that are in your own name; your spouse’s name or both if it’s a joint account. No more than three electronic refunds can be deposited into a single financial account or pre-paid debit card. Taxpayers who exceed the limit will receive an IRS notice and a paper refund.

Direct deposit gives you access to your refund faster than a paper check. Refunds that are direct deposited are not delayed for disaster and other weather-related events affecting mail delivery.

Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding

If you requested a refund of tax withheld on a Form 1042-S by filing a Form 1040NR, we will need additional time to process the return. Please allow up to 6 months from the original due date of the 1040NR return or the date you actually filed the 1040NR, whichever is later to receive any refund due.

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