How Long Does it Take to Get My Tax Refund?

Tax season is here and you may be wondering when you will receive your tax refund after filing your return. This will depend on a few factors.

First, you need to check that you have everything you need to file your tax return. Your tax professional may still need information and the longer it takes to get it, the longer you will have to wait to complete the tax filing process and getting your refund.

For most people after they’ve filed their taxes, you can expect to receive your tax refund about three weeks after the IRS has accepted your tax return. This timeframe is if you’re opting for direct deposit while a paper check will take longer (about five or six weeks). However, there are some common systemic reasons that your tax refund may be delayed:

• Mandated delays on certain tax benefits. Starting with the 2017 filing season, the IRS will hold refunds until February 15 for taxpayers who are eligible for the Earned Income Tax Credit (EITC) and/or Additional Child Tax Credit (ACTC.) While February 15 has passed, there may still be processing delays if you are eligible for these credits. The IRS’s EITC Assistant can give you an idea of your eligibility for this credit, while ACTC is for taxpayers with three or more dependent children or for some taxpayers who are eligible to claim a refundable portion of the Child Tax Credit.
• Filing paper tax returns. Electronically filing your tax return will expedite the process but there are situations that require paper tax returns (such as military tax breaks and receiving certain types of pension income.) If you filed a paper tax return and mailed it in, it can take about six to eight weeks for processing and for you to receive your refund.
• You were a victim of identity theft. If your identity information was compromised, there can be delays of several weeks or even months to ensure that the thief didn’t wrongfully receive your tax refund. Regardless of whether you alerted the IRS and state tax department, identity theft will cause delays.
• Your bank information was entered incorrectly. If you’re opting for direct deposit, it’s prudent to double-check your bank information so that your refund doesn’t accidentally get sent to the wrong bank account (or one that doesn’t exist.) Incorrect bank information can cause significant delays, make sure the routing and account numbers are entered correctly.

If you filed your tax return, the timeframes above have passed, and you still haven’t received your refund, you can check its status with the Where’s My Refund webpage as well as the IRS2Go mobile app.

View our 2017 Helpful Tax Tips for more information. At Rue & Associates, we are here to answer any questions and concerns you have about your income taxes, help you with every step of the tax filing process and track your tax refund. Please contact us to speak to one of our friendly and professional tax law experts.