Why is my refund taking so long 2024?
If you're still waiting on your tax refund, it's possible that your tax return is taking longer for the IRS to process because it requires additional review. There are several reasons why your tax return may be delayed: Errors such as an incomplete filing status. Missing information.
Why is my tax return so slow 2024?
Tax season is nearly over, and people who filed earlier in the window may wonder why a return is taking so long to process. The IRS has received 1.7% fewer returns this tax season but has processed 2% fewer returns this year compared to 2023, according to Forbes.
How long are IRS refunds taking 2024?
| Filing method and refund delivery method | How long it takes to receive your refund from the time your return is accepted |
|---|---|
| E-file and direct deposit | 1-3 weeks |
| E-file and check | 1 month |
| Mail in return and direct deposit | 3 weeks |
| Mail in return and check | 2 months |
What is the longest a refund should take?
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.
Why is it taking so long for my refund to be approved?
Why is my refund taking so long? A refund will take longer if you file by mail or don't select direct deposit. In addition, if the return is more complex or corrections are needed, it may slow the process down.
Should I be worried if my refund is still being processed?
If your refund details state that it's still processing, you can check your tax return to see if you catch any errors. If your refund status instructs you to contact the IRS, you can speak to an agent to get clarification by calling 1-800-829-1040.
When should I expect my tax refund in 2024?
Taxpayers who file electronically and choose direct deposit typically get their refund in less than 21 days. Taxpayers who don't have a bank account can find out how to open a bank account at a FDIC-insured bank or the National Credit Union Locator Tool.
Why has my refund been accepted but not approved?
"IRS Accepted Return But Not Approved" Meaning
If a taxpayer receives the status update that their tax return was accepted but not approved, this means that the IRS has received their tax return, but they have not yet evaluated the information.
Where is my tax refund in 2024?
The IRS says you can check the status of your refund through its "Where's My Refund?" page as soon as 24 hours after your return was filed electronically. You'll need to provide the site with a few basic pieces of information: The tax year you're checking. Your Social Security or individual taxpayer ID number (ITIN)
How long does it take the IRS to approve your refund?
(updated December 22, 2023) We issue most refunds in less than 21 calendar days. However, if you mailed your return and expect a refund, it could take four weeks or more to process your return.
How do I know if my tax return has been flagged?
Taxpayers whose tax returns have been flagged for possible IDT should receive one of the following letters: Letter 5071C, Potential Identity Theft during Original Processing with Online Option – Provides online and phone options and is issued most widely.
How long does it take for IRS to approve refund after it is accepted 2024?
Irs accepted my return on 01/31/2024 what date should my refund be in my bank account if I used direct deposit. TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer.
How can I speed up my refund?
'The best way to get your refund fast'
During fiscal 2022, some 93.8% of individual taxpayers filed electronic returns, according to the IRS. Filing electronically and selecting direct deposit is the best way to get your refund fast.
Does still being processed mean audit?
If my refund on the IRS website says still processing does it mean I will be audited? There's absolutely no reason to necessarily think that you're under review or that an audit is pending, so please don't worry. The "processing" message you see is perfectly normal. In fact, the messages and bars on the IRS.
Does still being processed mean approved?
It simply means that the return is being processed. IRS could still request more info before finishing the processing. They could also sent the return out for a review.
What does it mean when your refund is delayed beyond normal timeframe?
Refund timing
The IRS issues more than 9 out of 10 refunds in the normal time frame: less than 21 days. However, it's possible that some tax returns may require further review and could result in the refund being delayed. Some common issues which may extend processing times: You mailed your return.
Will child tax credit delay refund 2024?
This story is part of Taxes 2024, CNET's coverage of the best tax software, tax tips and everything else you need to file your return and track your refund. Note that your refund could be delayed because you claimed the child tax credit or the earned income tax credit, which takes a bit longer to process.
What's the difference between being processed and still being processed?
If their refund status changes from “being processed” status to “still being processed” status, the issue detected in the tax forms was likely resolved and the refund may be released when it is approved for a future cycle date.
Why does where's my refund say my information doesn't match?
The IRS relies on accurate and up-to-date records to match your information. If you've recently changed your name, address, or employment details without notifying the IRS and the Social Security Administration (SSA), your tax return may trigger a mismatch.
How will I know if my refund was not approved?
The most convenient way to check on a tax refund is by using the Where's My Refund? tool. Taxpayers can start checking their refund status within 24 hours after an e-filed return is received. The tool also provides a personalized refund date after the return is processed and a refund is approved.
What does the IRS look for to approve your refund?
Your income. Your tax withholding. Tax credits you claimed on your return. The withholding claimed on your Social Security benefits.
Can your refund be denied after being accepted?
No, once the IRS accepts the return, it will not be rejected after. However, they may request additional information from you at any time. If you have received notice that the IRS accepted your return, you can be confident they have it, though that does not always mean they have processed it yet.
What is the child tax credit for 2024?
Child tax credit 2024 (taxes filed in 2025)
For the 2024 tax year (tax returns filed in 2025), the child tax credit will be worth $2,000 per qualifying child, with $1,700 being potentially refundable through the additional child tax credit.
Does the IRS count weekends as processing days 2024?
The Internal Revenue Service says it processes about nine out of 10 tax returns within 21 business days. That estimate does not include weekends and holidays.
How do you know if you are under investigation with the IRS?
Signs You May Be Under Investigation
Many times the IRS won't tell you directly that you're under criminal investigation. But there are signs you can watch out for: IRS agents suddenly stop contacting you after requesting information or asking you to pay taxes owed.
