If you are expecting a tax refund there are a few pointers you should know. Firstly, the IRS issues more than nine out of 10 refunds in less than 21 days. However, it’s possible your tax return may require additional review and take longer.
You may check the status with the Where’s My Refund? tool at IRS.gov which has the most up- to-date information available about your refund. The tool is updated no more than once a day so you don’t need to check more often. However, it gives taxpayers access to their tax return and refund status anytime. All that is needed is Internet access and three pieces of information:
- Filer’s Social Security number;
- Filer’s filing status; and
- The exact whole dollar amount of filer’s refund.
Also, IRS phone and walk-in representatives can research the status of your refund if it’s been 21 days or more since you filed electronically, more than 6 weeks since you mailed your paper return or if Where’s My Refund? directs you to contact the IRS.
You can use Where’s My Refund? to start checking on the status of your return within 24 hours after the IRS has received your e-filed return or 4 weeks after you mail a paper return. Where’s My Refund? has a tracker that displays progress through 3 stages: (1) Return Received, (2) Refund Approved and (3) Refund Sent.
You will get personalized refund information based on the processing of your tax return. The tool will provide an actual refund date as soon as the IRS processes your tax return and approves your refund.
Getting Refunded Via Direct Deposit
Join the eight in 10 taxpayers who get their refunds faster by using e-file and direct deposit. It’s the safest, fastest way to receive your refund and is also easy to use, according to the IRS. Simply select it as your refund method through your tax software and type in the account number and routing number. Or, tell your tax preparer you want direct deposit. You can even use direct deposit if you are one of the few individuals who file by paper. Be sure to double check your entry to avoid errors.
Your refund should only be deposited directly into accounts that are in your own name; your spouse’s name or both if it’s a joint account. No more than three electronic refunds can be deposited into a single financial account or pre-paid debit card. Taxpayers who exceed the limit will receive an IRS notice and a paper refund.
Whether you file electronically or on paper, direct deposit gives you access to your refund faster than a paper check.
Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding
If you requested a refund of tax withheld on a Form 1042-S by filing a Form 1040NR, the IRS will need additional time to process the return. Please allow up to 6 months from the original due date of the 1040NR return or the date you actually filed the 1040NR, whichever is later to receive any refund due.
For even more information regarding your tax refund you may visit this link offered by the IRS: Pub 2043: IRS Refund Information Guidelines for the Tax Preparation Community