Tap on the profile icon to edit Show
 Once you’ve gone through the burdensome process of filing your taxes, your sigh of relief might be short-lived. That’s because you’ll likely be wondering, “How long does it take to get a tax refund?” But as excited as you may be to get that refund check from your federal income tax return, you may be disappointed with IRS processing times. So as you plan your budget for the year, you should know how long it will take to get your federal tax refund. If you want to go beyond taxes and build a comprehensive financial plan for your future, a financial advisor can help you put a financial plan together. How Long Will My Tax Refund Take?When you get your tax refund will depend largely on how you file your return. The fastest option is to e-file your return and to receive your refund via direct deposit. For 2021 taxes, which you will file in 2022, the majority of taxpayers who choose this option will receive their refunds within 21 days. That means your bank will have your refund within three weeks from the day the IRS accepts your tax return. Then it may take up to a few additional days for your bank to make the funds available to you. If you file a paper return or if you want to receive your refund as a paper check, your return will take longer to process. Filing a paper return and receiving your refund as a paper check will take the longest to process at two months or more. So if you’re inclined to sit around asking, “How long does it take to get a tax refund?” you might want to consider e-filing, or at least direct deposit. The table below will give you an idea of how long it typically takes to get a tax refund:
*Note that these are just guidelines. Based on how you file, most filers can generally expect to receive a refund within these time frames. For reference, here’s a detailed breakdown of when taxpayers received their refund in 2021:
Tax Returns That Include the EITC or ACTCIf you claimed either the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), you may have to wait a bit longer for your refund. Law requires the IRS to hold refunds from these returns until February 15. You shouldn’t expect the refund to hit your bank account until late February, according to the IRS. If you don’t elect for direct deposit or if there are problems with your return, you can expect the refund to take longer. How to Check Your Tax Refund StatusAre you the sort of person constantly wonders, “How long does it take to get a tax refund?” If you want to check the status of your federal tax refund, you can use the Where’s My Refund? on the IRS website. You can also access that tool on the IRS2Go mobile app. Your return’s status will usually be available within 24 hours if you file electronically. If you mailed a paper return, it will take at least four weeks before you can check the status of your return. You’ll need three pieces of information to check your return’s status:
If you filed a return with the EITC or ACTC, the IRS says you can expect your refund status to update by late February. Bottom LineHow long it takes to get your tax refund will depend on how and when you file your tax return. The best way to get your refund quickly is to e-file your return and elect to receive the refund by direct deposit. For the 2021 tax year, the IRS has said that the vast majority of e-filers (who also use direct deposit for refunds) will receive their refund within 21 days. Sending a paper return or receiving your refund as a paper check will potentially slow down processing by months. The IRS also processes returns more slowly at the beginning and end of the tax season. That’s because the majority of taxpayers file during those times. Tips for Getting Through Tax Season
Photo credit: ©iStock.com/fstop123, ©iStock.com/Eva-Katalin, ©iStock.com/alex_skp Derek Silva, CEPF® Derek Silva is determined to make personal finance accessible to everyone. He writes on a variety of personal finance topics for SmartAsset, serving as a retirement and credit card expert. Derek is a member of the Society for Advancing Business Editing and Writing and a Certified Educator in Personal Finance® (CEPF®). He has a degree from the University of Massachusetts Amherst and has spent time as an English language teacher in the Portuguese autonomous region of the Azores. The message Derek hopes people take away from his writing is, “Don’t forget that money is just a tool to help you reach your goals and live the lifestyle you want.” Categories
How long does it take for refund to be approved 2022?(updated July 7, 2022) We issue most refunds in less than 21 calendar days. However, if you filed on paper and are expecting a refund, it could take six months or more to process your return. Where's My Refund?
How long does it take for them to process your tax return?If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.
When can I expect my refund Netherlands?The Dutch tax administration only transfers refunds to the personal bank account of the referred taxpayer. An income tax assessment will be issued by a tax inspector after the tax return has been audited. The refunds will be received after receipt of the final assessment; normally within two months.
How long is the IRS taking to process paper returns 2022?If you filed on paper, it may take 6 months or more to process your tax return. For service delay details, see Status of Operations. The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it's possible your tax return may require additional review and take longer.
|
Once filed how long for tax return
Copyright © 2024 kemunculan Inc.
