Where is my refund? How to check the status of your tax return explained
HOUSEHOLDS who have filed taxes and are due to receive a refund may be wondering where it is – and when they will get the money.
The due date for filing personal income tax returns and paying taxes was Monday, April 18, 2022.
The Internal Revenue Service (IRS) extended the deadline into 2021 to give households more time due to the coronavirus crisis, but did not offer an extension this year.
According to the IRS’ latest update on its operations, it has 9.6 million unprocessed individual returns.
The average tax refund this year is $3,263 according to IRS data.
If you’re expecting a refund, we’ll tell you what you need to know below.
Who must file a tax return?
TO find out whether or not you should file one, complete this checklist on the IRS website.
You will need your filing status, which is related to your marital status and sorts out the tax form you need to complete.
You’ll also need your federal income tax withholding status, which you can calculate here, and basic information to help you determine your gross income.
To file your tax return, you will first need to prepare a few items.
USA.gov has outlined the initial steps you will need to take, which you can refer to for assistance.
These steps include obtaining a W-2 form from each of your employers, as this form shows your annual salary and the amount of taxes withheld from your paycheck.
You will also need other income and interest statements on hand.
Again, you will need to know your filing status, which depends on whether you are married or not.
You can submit your tax return online and you can find out about the options for filing it electronically here.
How to track your refund
You can see where your money is 24 hours after you file your tax return by logging into the IRS Where’s My Refund tool.
To do this, you will need to enter your social security number or your individual tax identification number (ITIN), which can be found on your tax return.
You’ll also need to enter your filing status and refund amount shown on your tax return – make sure it’s the exact amount shown for the most accurate information.
You can also use the free IRS2GO mobile application to find out the status of your refund. It’s apparently the fastest and easiest way to monitor yours.
The app is updated once every 24 hours so you have an idea of the approximate status of your money in that time frame.
Finally, you can call the IRS to verify your payment at 800-829-1040.
Phone representatives can only look up the status of your refund 21 days after you electronically file it, six weeks after you submit your paper return, or if the online tool directs you to contact them.
When will I receive my tax refund?
According to USA.gov, the IRS typically issues refunds within 21 days of electronically filing your tax return.
If you mailed in your tax return, you will have to wait up to 42 days for a refund.
However, it can take up to 14 weeks – or 98 days – to process your reimbursement if you included an Injured Spouse Benefit form.
If you requested your refund by direct deposit to your bank account, you should also allow an additional five days for your bank to cash the check.
If you made mistakes on your tax return or filed it incorrectly, you can also expect further delays.
Also, if you filed your tax return at the last minute, you may have to wait a little longer for a refund.
The IRS has faced a backlog of filings and staffing shortages this tax season, slowing the refund process for some.
We explain what to do if you’ve missed the deadline – and if you can avoid late-filing penalties.
And The Sun reveals why your tax refund could be lower in 2022.
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