How long does it take to get a tax refund?

How long does it take to get a tax refund?

Get a tax refund

You have filed your tax return and found that you can get your money back from the government this year. However, even if you file electronically, you won’t see the money right away. Several factors affect how quickly (or how late) you receive your tax refund. For example, the quickest way to get a refund is to electronically file and opt for direct deposit, but if your return is in error or you choose to file too close to your return, you may still experience a delay in paying your taxes on May 17 Deadline.

While it’s tempting to refresh your banking app every hour until a wonderful refund miraculously appears, it’s far from the most productive thing you can do with your time. Instead, take a look at the timeline below to see when you should get your tax refund and find out what might be holding it back.

2021 Tax Refund Schedule

Direct deposit to electronic file: 1-3 weeks

This is the fastest way to get your tax refund. If you apply online and set up direct deposit, you can get your money back in as little as one week. It takes up to three weeks for your refund to arrive in your bank account.

The electronic file and paper check: 1 month

Filing your taxes online doesn’t mean you’ll automatically get your tax refund via direct deposit. You can choose to have a paper refund check mailed to you. However, it may take about a month for the IRS to write you a check after your return has been processed.

Direct deposit of paper documents: 3 weeks

If you’re filing your tax return by mail, it can take a while to get to the IRS, especially during a pandemic. Once your paper return has been accepted and processed, your tax refund should be deposited directly into your bank account within 21 days.

Paper documents and paper inspections: 2 months

This method is not recommended as it is the most time-consuming, but in some cases, it is necessary to get everything on paper. (For example, you might need a gift for someone who passed away last year.) In this case, you’ll receive a refund check after two months.

Where is my tax refund?

You can pass. Inquiry about your tax refund What about my refund? Tracker 24 hours after electronic filing or four weeks after paper filing. If it has been more than 21 days since your return was accepted and you have not received your tax refund, contact the IRS.

The IRS processes mailed tax returns in the order they are received. Due to the COVID-19 pandemic, paper tax returns may take longer than usual to process, which in turn may affect the timing of your tax refund.

Filing your taxes early or late can delay your refund because it’s often a significant amount of time for the IRS. The closer you get to the May 17 tax deadline, the more likely your refund will be delayed.

Errors in your tax return – whether you send it electronically or by mail – can also delay your tax refund. If so, the IRS will contact you by mail to request more information.

By aamritri

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