IRS Refund Deposit Check | When Can You Expect Your Tax Returns?
IRS Refund Deposit Check | When Can You Expect Your Tax Returns? The Internal Revenue Service (IRS) processes tax refunds promptly, and taxpayers eagerly anticipate receiving their refunds. In this article, we provide comprehensive information on when you can expect to receive your IRS refund deposit.
IRS Refund Deposit Timeline
The IRS aims to deliver tax refunds within 21 days after taxpayers e-file their returns. The tax season for 2022 started on January 23, 2023, and will run until April 18, 2023. Many taxpayers filed for refunds as soon as e-filing became available, creating high expectations for prompt returns.
Expectations for E-Filed Returns
According to the IRS, approximately 90% of electronically filed tax returns are processed within 21 days. If you’ve e-filed for a 2022 tax refund and have not claimed the Earned Income Tax Credit and Child Tax Credit, you can also expect your refund within this timeframe.
Processing Timeline for E-Filed Refunds
E-filed refunds generally take up to seven working days to be accepted, followed by release for direct deposit within 14 days. For instance, if you e-file a refund on February 22, 2023, it’s likely to be accepted by February 28, 2023, with the direct deposit expected on March 14, 2023, or earlier.
Checking Your Refund Status
The IRS has not published a specific schedule for IRS refund deposits this year. Instead, taxpayers are advised to check their e-filing status on the IRS website. If more than 21 days have passed since e-filing without receiving your refund via direct deposit, visit irs.gov to check your status.
IRS Tax Return Deposit
Keep in mind that only electronically filed tax refunds are processed within three weeks. Taxpayers who file paper returns, whether choosing direct deposit or a check, will need to wait approximately six months for their refunds.
Estimating Deposit Dates
While the IRS has not provided a tool to track direct deposit dates for tax refunds, individuals can estimate the date by checking their e-filing status. To do so, you’ll need your Social Security Number and other required credentials.
IRS Tax Refund Status
After electronically filing your tax return, allow at least 24 hours before checking your refund status. Using your Social Security Number and other necessary credentials, you can verify if your return has been accepted. If it has, you can expect your direct deposit within a maximum of two weeks, if not sooner.
Paper Filers Refund Status
For those who filed paper tax refunds, it takes four weeks before you can check your refund status. Once this time has passed, access the Internal Revenue Service’s “Where’s My Refund” portal or use the IRS2Go mobile application to check your return’s status.
Act Now for a Quick Refund
If you have not yet filed for a 2022 tax refund, remember that the deadline is April 18, 2023. We strongly recommend e-filing as soon as possible to ensure you receive your refund promptly.
