Taxpayers can expect to receive their IRS refund deposit within 21 days after e-filing. The Internal Revenue Service (IRS) commenced the tax season on January 23, 2023, and it will continue until April 18, 2023. As soon as the e-file window opened, numerous individuals filed for tax refunds. Now, they eagerly await their returns. By reading through this article, you will find comprehensive information on this matter.
IRS Refund Deposit: When will you receive your refund?
As per the Internal Revenue Service (IRS), the majority of electronically filed tax returns, around 9 out of 10, are processed within 21 days. If you are one of the millions of individuals who filed for a 2022 tax refund, you can expect to receive your refund within 21 days, unless you have also claimed the Earned Income Tax Credit and Child Tax Credit.
Typically, e-filed refunds take up to 7 working days to be accepted, and then within 14 days, the direct deposit is released. For instance, if someone e-files a refund on February 22, 2023, their refund is likely to be accepted by February 28, 2023, and they can expect the direct deposit by March 14, 2023, or even earlier.
This year, the IRS has not provided a specific schedule for receiving IRS refund deposits. However, they have informed individuals through their website that e-filing ensures a faster refund. If it has been more than 21 days since you filed your refund electronically and you have not received it via direct deposit, you can check the e-filing status by visiting irs.gov/.
IRS Tax Return Deposit: Tracking and Timelines
It’s important to note that only tax refunds filed electronically are received within 3 weeks. Individuals who file paper check returns, whether for direct deposit or check, will have to wait approximately 6 months to receive their refund.
Tracking Refund Status
The IRS has not introduced a specific tool or date for tracking the direct deposit of tax refunds. However, individuals can estimate the deposit date by checking their e-filing status. To do so, it is essential to have your Social Security Number and other necessary credentials readily available. By accessing the IRS website, you can easily check the status of your 2022 tax refund.
IRS Refund Deposit | IRS Tax Refund Status
After electronically filing your tax return, you must wait at least 24 hours before checking your refund status. By using your Social Security Number and other required credentials, you can verify if “your return is accepted.” This status confirmation indicates that your direct deposit will be released within a maximum of 2 weeks or possibly even earlier.
For Paper Filers
If you filed your tax refund on paper, you will need to wait for 4 weeks before checking your refund status. Once this timeframe has passed, you can visit the Internal Revenue Service’s Where’s My Refund portal or utilize the IRS2Go mobile application to check the status of your tax return.
Filing Deadline and Recommendations
If you have not yet filed your 2022 tax refund, whether electronically or on paper, it is important to note that the deadline is April 18, 2023. We strongly recommend that you e-file your refund as soon as possible to expedite the refund process.
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