E-filed tax returns with direct deposit: E-file with direct deposit is the fastest way to get your federal tax refund. Typically, the IRS expects to issue nine out of 10 tax refunds within 21 days after acceptance if there are no issues.

Mailed paper returns: The IRS warns that if you need your refund in a hurry, DO NOT go the paper route.  Due to COVID-19, the IRS expects even longer delays for paper returns this year. 

 Let’s Talk Refund Processing

     Step 1: If you e-file, you can check the status 24 – 48 hours after you file by using the IRS Where is My Refund?  tool. You’ll need  your Social security number or ITIN (Individual Tax ID Number), your filing status, and your EXACT refund amount, so make sure you have a copy of your return on hand.

    Step 2: You’ll received a “Return Received” notice within 24 – 48 hours after e-filing. The IRS Where is My Refund? The tool will show “Return Received” status once they begin processing your tax return. You won’t see a tax refund date until the IRS finishes  processing and approves your tax refund.

   Step 3: Status change from “Return Received” to “Refund Approved”. This means the IRS finished processing your tax return and has confirmed it’s approved. The change in status can take a few days.

  Step 4: Where’s My Refund? tool shows refund date. At this point, the IRS will provide a personalized refund date once your status moves to “Refund Approved.” 

   Step 5: Where’s My Refund? shows “Refund Sent”. If the status in Where’s My Refund? shows “Refund Sent,” the IRS has sent your tax refund to your financial institution for direct deposit! However, keep in mind that it can take 1 to 5 days for your financial institution to deposit funds into your account. If you opted to receive your tax refund via mail, it could take several weeks for your check to arrive.

If you’re ready to file, contact our tax preparation professionals today!