![]() ![]() If you don’t receive a refund within 45 days after the deadline, then interest may be owed by Uncle Sam. You have until April 18 to file your taxes for this year. The IRS has administrative time (typically 45 days) to issue your refund without paying interest on it. Not surprisingly, it is best to call right when the IRS opens eastern time or late in the day before closing.ĭoes the IRS owe you interest on late refunds?Įven with the delays, the IRS owes you interest on your money. According to the Taxpayer Advocate, only 1 in 9 calls to the IRS are answered. Getting through to the IRS over the phone is a challenge. You may call 80 with any Federal tax questions. e are now into 2022 and this means that taxpayers in the USA can start filing their taxes for the 2021 tax year. ![]() Until the return is processed, your return will not appear on our computer system and we will not be able to. Your tax return consists of a Form 8379, Injured Spouse Allocation, which could take up to 14 weeks to process IRS payments 2022 update: New surprise bonus 5,200 boosts being sent out. Check the Status of Your Income Tax Refund.Your tax return includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit.Your tax return Is affected by identity theft or fraud.The IRS waits a few weeks after the tax year ends because taxpayers need to prepare information returns to the rightful recipients so that they can report the income they earned during the year and file their returns accordingly. ![]() More than 160 million individual tax returns for the 2021 tax year are expected to be filed, with most before the April 18 tax deadline. Your tax return needs further review in general This means the start of the tax season will be the last Monday of January or any day between January 15 and January 31. The start of this year’s tax season which takes place earlier than last year’s February 12 opening signals the IRS is now accepting and processing 2021 tax returns.Your tax return includes errors, such as incorrect Recovery Rebate Credit.The following are some of the reasons why tax returns take longer than others to process: Due to the backlog, it can take 6-8 weeks to process your tax return. You can call the IRS, but you should wait out the delays before putting yourself through this added stress. If your tax refund is delayed, you have options. Use electronic filing with direct deposit to receive your tax refund the fastest way. How quickly will you get your refund If you filed electronically, refund processing is expected to take 6-8 weeks from February 7 or the date you filed. The IRS even stated in January communicating the 21-day time frame.Īdd in the pandemic-related tax changes and child tax credit advances, and this tax season is more complicated than ever. Typically the IRS processes tax returns and issues refunds within 21 calendar days of receipt. The prompt means that the IRS has received your return, but due to Covid-19 delays, the IRS is experiencing a considerable backlog, slowing processing times and disbursements. Many taxpayers use the Where’s My Refund tool and wonder what “Return being processed” means for them and their refund. ![]()
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