The average tax refund for 2023 is $3,028; individual circumstances may result in a larger or smaller refund.
In the United States, tax season ended more than a month ago. The Internal Revenue Service received returns for the tax year 2022 from millions of taxpayers nationwide between January 13 and April 18.
Despite the fact that the government agency has already issued approximately 130 million refunds, a number of taxpayers are still awaiting payment. Here are some potential causes for the delay in the arrival of your funds.
Why Do Some Tax Refund Take So Long?
Before filing a claim, you should consider that the IRS has up to 21 days after processing your return to issue your refund if you filed electronically and requested direct deposit. If you completed the process in the traditional manner and expect payment via a printed check sent via postal mail, the duration of the process could extend from six to twelve weeks.
In 2023, however, the IRS has warned that refunds may take longer than anticipated, particularly for taxpayers awaiting the Refund Catchup Credit, the Earned Income Tax Credit, and/or the Additional Child Tax Credit.
The IRS may delay your refund if it requires you to verify certain information or make corrections to your tax return. The government agency will contact you directly if this is the case.
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How Can I Monitor My Refund?
If you do not know the status of your refund, you can monitor it using the Internal Revenue Service’s Where’s My Refund? or IRS2go tools. There are three statuses available here: declaration received, refund authorized, and refund sent.
If your refund was sent more than 21 days ago, the IRS suggests calling 800-829-1040.
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