The IRS has sent more than 78 million refunds. How to check on yours
You may receive your refund for 2021 faster than expected if you file a late tax return.
9 out of 10 refunds arrived in 21 days during this season. according to the IRS. On April 15, more than 78,000,000 refunds were issued by the agency, with a total value of $242 billion. The average refund currently stands at $3,103. the agency reported.
In fact, millions of tax returns were flagged by the IRS last year. stimulus payment errorsThe IRS advised taxpayers to verify their files.
Chuck Rettig, IRS Commissioner: “We ask for extra attention to people who have received an economic benefit payment or an advanced child tax credit last fiscal year.” said in a statement. To avoid any delays, it is important that taxpayers accurately report their taxes.
National Taxpayer Advocate Erin CollinsThe agency stressed its difficulties with paper in her annual report to CongressIn January, he called it “the IRS’ Kryptonite”, and pointed to the December backlog that included 5 million pieces tax mail. This issue continues to be a problem.
Collins stated that paper remains the core of agency challenges when it comes to processing tax returns as well as correspondence at an April 21 House hearing.
Collins estimates that it can take up to 21 days for error-free electronic filings to be processed, but refunds for paper returns could take six months.
As of April 15, the agency received nearly 118 million electronic returns — roughly 96% of filings. This could change as more electronic returns are received before the Oct. 17 deadline.
This is the fastest and most efficient way to receive an update regarding your refund. “Where’s My Refund?” online tool or by using the IRS2Go app. You will see three stages of the process in this portal: refund approval, return receipt and refund sending. The estimated deposit date is also shown.
Status can be seen 24 hours after IRS receives electronic files or up to four weeks after IRS received paper returns. The portal is updated daily by the agency, usually overnight.
You may receive a refund that is not as expected. Some funds could have been used to pay past-due state or federal taxes, child, spousal or federal debt, and unemployment debt. the IRS says.
You may receive a smaller payment if you make an error in your tax return. For example, the amount reported for your child tax credit or stimulus.