According to the IRS, 90% of
taxpayers will receive a refund in 21 days or less. That’s the average taking
into account all returns filed, whether e-filed or filed with traditional paper
returns.
How can you speed that process
up? The IRS says that if you e-file and use direct deposit, you can receive
your refund in as few as ten days. I’ve heard of folks getting them as quickly
as three.
Who might have to wait? The
usual suspects: taxpayers who make mistakes. Submitting an error free return
increases the likelihood that your refund will be processed quickly. Mistakes –
sloppy returns, transposed numbers or bad math – can slow down processing and
result in delays.
The IRS warns that ramped up
scrutiny for fraud may slow down some refunds. If your refund is sizable or if
it’s based on a credit that the IRS has identified as ripe for abuse (EITC and
fuel tax credits, for example), your return might get a second look.
Other issues that can affect
the timing of your refund include bankruptcy, an open audit or a balance due on
a related account such as a different tax year. Your refund may also be slowed
if you are subject to an offset for outstanding liabilities such as delinquent
child support or unpaid student loans.
If you’ve done everything right
and your refund feels slow, you can check on the status with the IRS. You’ll
need to wait at least 72 hours after you e-file or three weeks after you mail
your paper return before you can make an inquiry.The fastest and best way to get the info is using the “Where’s My Refund?” tool on IRS.gov .
To check on your refund, you’ll
need to have your tax return handy. You’ll need to enter:
- Your Social Security Number
- Your filing status
- The amount of your refund as shown on your tax return
Here’s a quick caveat about
dates: if you’ve amended your return using a form 1040X, all bets are off. It
may take 8 to 12 weeks or longer to process the return. If 8 weeks have passed
after you’ve filed a form 1040X and you have not received your refund, call the
IRS at (800) 829-1040. Be prepared to wait (and wait).
Finally, if your check is supposed
to be in your mailbox and it’s not because it was lost, stolen, or destroyed,
you can file an online claim for a replacement check. You can make the claim if
it’s been more than 28 days from the date that the IRS says it mailed your
refund. Head over to the “Where’s My Refund?” tool on IRS.gov for details.
