How Long Does It Take To Get A Tax Refund? Estimated Tax Refund For The Year 2022

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The arrival of your refund is likely something you've been anticipating if you're due one. What follows is the information you'll need to estimate when you may expect your refund to arrive. For the most part, Americans dislike tax time. On the other hand, you might have something to take a gander forward to if you're getting a tax refund. Depending on how people file and get your refund, the time it takes to receive your money ranges from three weeks to a month after you submit your tax return. Use any IRS refunds to get out of debt, start a rainy-day fund in a high-interest savings account, or consult a financial planner about your investment and retirement strategy.

How Long Will It Take For My Tax Refund?

Nine of ten refunds from the Internal Revenue Service are delivered in less than three weeks. Your tax refund may take longer than 21 days to arrive. The time it takes to get your tax return is affected by various variables, including the decisions you make while filing. In this new series of videos, you may learn in as little as 15 minutes what additional circumstances outside your control impact the timeliness of your return.

If the Internal Revenue Service owes you money, you may get it back in any way you like. You may choose between the following:

  • A deposit will be made towards your bank account through direct deposit.
  • A paper check was sent to you.
  • Funds will be refunded to the provided debit card.
  • Put down as much as $5,000 on U.S. Savings Bonds.
  • You may put money into an individual retirement account (IRA), a Roth IRA, or a simplified employee pension (SEP-IRA).

How fast you get your tax return depends on your chosen delivery method. Direct payment with an electronically completed tax return is the quickest way to get your refund, says the Internal Revenue Service.

How To Determine The Present Standing Of My Refund

 

When you use the Where's My Return? Function on the company's official website or the IRS2Go app on your mobile device, you can see exactly where your refund is in the processing pipeline. You may find out the progress of your tax refund in as little as 24 hours if you file online. However, if you choose to send in your tax return, expect to wait an average of four months before learning anything about your refund. Remember that the normal deadline for submitting your tax return is January. You'll need someone's Social Security card number (SSN), registration status (single or married), and your refund amount to check on its progress. You may get an IRS Error Message saying 9001 if you submit your return with the incorrect Social Security number. As a result, more time may be needed to verify your identification before issuing your tax refund.

Why Does It Take So Long To Get Your Money Back?

Your tax return may need further examination if you have yet to receive a refund after 21 days. If your return had been wrong or missing information, this might occur. If the IRS needs more data to complete your return, it may issue you written instructions. Filing for the Alternative Minimum Tax or the Supplementary Child Tax Credit could cause a holdup. The IRS must wait to process tax returns for anyone who claimed such credits until February 15th, under the Safeguarding Americans from Increased Taxes Act of 2015.

May you get a PATH Act notification in the Where's My Refund? Feature if you qualified for one of those tax credits. Calling the IRS because you're becoming antsy because you haven't gotten your refund is probably not going to help. Unless Where's My Refund? Feature specifically directs you to take action, or it has been 21 days after you electronically submitted your tax return. You should not contact the IRS directly.

What About The Refund Of My State Taxes?

All of the preceding discussion pertains towards federal tax refunds. It is impossible to provide an accurate estimate for when each individual will get their state tax refund since each state has its unique procedures for distributing such payments. However, state reimbursements often arrive far sooner than federal ones. While only sometimes the case, this is usually the situation. If you submitted your state tax return online, you should get your refund within 30 days. It might take up to 12 weeks before your tax refund arrives if you submit your return on paper. You can check the status of your refund by calling or visiting the website of your state's Department of Revenue.

Conclusion

To get your refund check as soon as possible, complete your return early, double-check for errors before submitting, and file online. You may also request a paper check, but having your return deposited into a bank account, savings account, or IRA will get it to you much quicker (IRA). Remember to utilize the IRS's Where's My Return? Tool if you're worried about the whereabouts of your tax refund. It keeps you apprised of the return process in real-time.

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