Friday, 1 March 2024

Here’s When You Can Expect Your Tax Refund in 2024

by Earn Media

<div>Here's When You Can Expect Your Tax Refund in 2024</div>

Image source: Getty Images

There are only two good things about filing your taxes: staying out of jail and getting a refund check. The average American has gotten a refund of $1,395 as of Feb. 2, 2024, and this could climb higher as more people submit their returns.

But that money is not going to show up in your bank account the second your return lands in the IRS’s system. It takes a few weeks to get your refund, and for some, it could be even longer. Fortunately, there’s a simple way to know where yours is in the process.

How long does it take to get your tax refund?

The IRS issues most e-filed tax returns within 21 days of receiving the tax return. For some, it may be even faster than this. But keep in mind, this doesn’t account for the time it takes for your financial institution to post the refund to your account.

Refunds can also take longer — more than four weeks in some cases — for those who mail their tax returns or request a refund check by mail. Returns that require corrections or need additional review may also have delayed refunds.

How do you know the status of your tax refund?

The IRS really doesn’t want to be asked “Where’s my tax refund?” by millions of people all day for months on end, so it created the Where’s My Refund? tool. You can access this online or using the IRS2Go app.

It tells you the exact status of your refund. You enter your Social Security number or individual taxpayer ID number (ITIN), your marital status, and the refund amount shown on your return. Then, you’ll see one of three statuses:

  • Return Received: The IRS has received your tax return, but it’s still processing it.
  • Refund Approved: The IRS has approved your refund and is preparing to issue it by the date shown in the tool.
  • Refund Sent: The IRS has sent the refund, but it could take up to five days for it to appear in your bank account or weeks if coming by mail.

You can start checking your refund status 24 hours after e-filing a current-year return, three or four days after e-filing a prior-year return, or four weeks after filing a paper return.

It can be frustrating to wait when you just want your check, but try to be patient. And resist reaching out to the IRS with questions about your refund unless the Where’s My Refund? tool advises you to do so.

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