November 26, 2024

Where’s my tax refund? 90% arrive within 21 days of filing; $3,103 average refund

Refund #Refund

About 90% of tax refunds have arrived within 21 days this tax season, according to the latest figures from the Internal Revenue Service.

As of April 15, the IRS has delivered more than 78 million refunds worth more than $242 billion. The number of returns filed – 112.5 million – is up 10.4% from last year and the vast majority, roughly 96%, were submitted electronically.

The average refund amount is up $230 over last year, reaching $3,103.

Tax deadline day for this year was April 18th. People filing an extension have until Oct. 18 to submit their return.

READ MORE:

How to file for 6-month extension

Where’s my refund?

While most refunds are back within three weeks, people who file paper returns or those with errors in their paperwork can expect longer waits.

“Many different factors can affect the timing of a refund after the IRS receives a return. A manual review may be necessary when a return has errors, is incomplete or is affected by identity theft or fraud,” the agency said. “Other returns can also take longer to process, including when a return needs a correction to the Child Tax Credit or Recovery Rebate Credit amount, includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit, or includes a Form 8379, Injured Spouse Allocation PDF, which could take up to 14 weeks to process.”

To check the status of a refund, taxpayers can use the Where’s My Refund? tool on IRS.gov. Information for the most current tax year filed is generally available within 24 hours after the IRS acknowledges receipt of a taxpayer’s e-filed return. If they filed a paper return, the IRS advises waiting four weeks before checking the status.

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