Federal income taxes are paid either through paycheck withholding or estimated tax payments. If you end up paying more taxes than what you owed, the IRS returns to you the extra amount back in the form of a tax refund.
If you’ve already filed your return and expect a refund, here are some helpful things to keep in mind.
When to Expect Your Refund
The time of processing a refund depends on the kind of return or how you filed it.
- For an e-filed return – Up to 21 days
- Returns sent vis snail mail – 4 weeks or more
- Amended returns – 4 weeks or more
- For a Form 1040-NR, Nonresident Income Tax Return – up to 6 months
Refunds may take longer if:
- There were errors or missing information on your returns
- Your return needs amendments
- You claim the Earned Income Tax Credit
- You requested an Injured Spouse Relief
- You filed with ITIN (Individual Taxpayer ID Number)
- Your refund exceeds $2 million
Use the IRS tool “Where’s my refund?“ to check the status of your refund. You will need your Social Security number, filing status and the exact refund amount to inquire. It will show your refund status:
- Return Received –means the IRS received your return and is currently processing it.
- Refund Approved – means the IRS approve your refund and will be issued by the stated date.
- Refund Sent – means the refund was already sent to your bank or your mail address. Note that it can take up to 5 days to be reflected in your bank account while refunds sent via mail can take several weeks to arrive.
Common Concerns Regarding IRS Refund
Other than delays, below are some of the common issues or problems related to IRS Refund and what to do when you encounter them.
The refund you received was not what you expected – The IRS will send you a notice explaining why it differs from your expected refund. The changes may be because:
- The IRS made corrections on your return
- The refund was used to pay your other federal tax balance, certain state taxes or IRS debts.
- You filed a joint return, and the refund was applied to your spouse’s debts.
Your paper check for the refund is missing or destroyed – request for a replacement check by using their automated system at 800-829-1954 or speak to an IRS agent by calling 800-829-1040.
If you are claiming a missing paper check, the process will depend on whether the check was cashed or not. If the check was not cashed, a replacement check will be issued once the original check is cancelled. However, if the check is cashed, you must follow the instructions in the claim package that the Bureau of Fiscal Service (BFS) will send you. The BFS will then review your claim to determine if they can issue a replacement check. This review can take up to 6 weeks to finish.
You entered the wrong account or routing number – you must immediately call the IRS at 800-829-1040 to stop the payment. But if the deposit was already made to the wrong account, you must contact your bank to recover your funds.
You received a paper check instead of direct deposit – This could happen under the following circumstances:
- The bank account you provided is not under your name, your spouse’s name, or joint account.
- Your bank rejected the direct deposit, or
- 3 electronic refunds were already requested under 1 bank account.
You received an erroneous refund, or a refund you are not entitled to at all – immediately return the refund to IRS.
If you are still waiting for your tax refund, try not to be stressed. The IRS has reasons, and you can easily check your refund status with this tool, “Where’s my refund?“. Be sure to look out for an IRS letter. They will contact you by mail if they find problems or need additional information for your returns. If your taxes become unclear, do not hesitate to contact us at (855)529-1099 or make an appointment for a free consultation.
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