If you filed a tax return at the last minute, you may see your 2021 refund faster than you expected.
Nine out of 10 refunds have arrived within 21 days this season, according to the IRS. Pr. On April 15, the agency issued more than 78 million reimbursements worth more than $ 242 billion in total, and the average reimbursement is currently $ 3,103, the agency reported.
However, there are several reasons why an e-filing return may be delayed, the IRS says. Your application may need a manual review for missing information, errors, or identity theft issues.
Last year, the IRS marked millions of returns for stimulus payment errors, and the agency warned taxpayers to double-check applications.
“We urge extra attention to those who received a financial impact payment or an advance on child tax deductions last year,” IRS Commissioner Chuck Rettig said in a statement. “People should make sure they report the correct amount on their tax return to avoid delays.”
National Taxpayer Advocate Erin Collins highlighted the agency’s challenges with paper in her annual report to Congress in January, calling it the “IRS ‘Kryptonite” and pointing to a December lag of 5 million taxpayer posts. It continues to be a problem.
“Paper is still at the heart of the agency’s challenges in dealing with both tax returns and correspondence,” Collins said at a hearing in the House subcommittee on April 21.
While it can take 21 days to process flawless electronic applications, refunds for paper returns can take “six months longer,” Collins estimated.
Pr. On April 15, the agency received nearly 118 million electronic returns – about 96% of applications. That may change as more returns arrive before the October 17 extension deadline.
How to check the status of your refund
The fastest way to get an update on your refund is through “Where’s my refund?” online tool or by using the IRS2Go app. The portal shows three steps in the process: return receipt, refund approved and refund sent, with an estimated payment date.
You can view the status 24 hours after the IRS receives your electronic application or four weeks after you submit your paper return. The agency updates the portal daily, typically overnight.
If your repayment is different than expected, some of the funds may have been diverted to overdue federal or state taxes, unemployment debt, child or spouse benefits, or other federal debt, the IRS says.
A small payment may also reflect an error on your return, such as the amounts reported to your stimulus or child tax deduction.