Table of Contents
Tax Refund Schedule for 2023
Most individuals loathe paying taxes, but if you’re expecting a refund, you might see it as a positive. Your tax refund will typically be mailed to you within three weeks of filing, but it depends on how you file and receive your refund. If you get extra money from the IRS, you might be able to use it to pay off debt, build an emergency fund using a high-interest savings account, or work with a financial advisor to establish savings and retirement objectives.
How Soon Will I Get My Tax Refund?
It takes an average of 21 days for a refund to be issued, but you may have to wait five days to access it if you choose to have it deposited directly into your account. You might have to wait weeks for a refund check if you decide to request one in that manner.
If you e-file and request direct deposit, you will usually receive your refund within 1-3 weeks. A paper file with direct deposit will usually arrive within 3 weeks. For a check in the mail that is e-filed, you will generally receive that refund within a month, and a paper file with a check in the mail will take up to two months to receive.
It’s important to remember that these are just estimates. Based on your filing method, most taxpayers typically receive their refunds within these time frames: direct deposits or paper checks in the mail, on average, two weeks after the IRS accepts their taxes or three weeks after e-filing. You might, however, end up waiting longer in some cases.
How to Find The Status of Your Refund
The IRS offers two methods for checking on the status of your refund: the IRS2Go mobile app or the Where’s My Refund tool on the IRS website. To determine the status of your tax refund, you must provide your Social Security number (SSN), filing status, and the exact dollar amount of your refund. If you accidentally enter the wrong SSN, it may set off IRS Error Code 9001. That may necessitate further identity verification and cause your tax refund to be delayed.
If you file your tax return electronically, you may learn about your refund status within 24 hours. However, if you send your tax return by mail, you will not be able to find out about your refund for four weeks.
Why Are Refunds Taking So Long to be Issued?
Your tax return may require further review if your refund doesn’t arrive in 21 days. If your return was incomplete or incorrect, the IRS may send you instructions through the mail.
Am I eligible for a state tax refund?
Tax refunds are handled a little differently in every state, and it’s not possible to predict when everyone will receive their state tax refunds. States often process refunds faster than the federal system, but this isn’t always the case.
A state tax refund can generally be received within 30 days after filing an electronic tax return. If you filed a paper return, it may take as many as 12 weeks for your refund to arrive. You can check on the status of your refund by calling your state’s revenue department or visiting its website.
When do you have to pay taxes?
The deadline to submit your tax return and pay your tax bill for most years is April 15. However, because Washington D.C. had a legal holiday in 2021, taxes had to be filed by April 18, 2022, and residents of Massachusetts and Maine had until April 19, 2022.