Some early filers are waiting for a tax refund more than six weeks already -- far longer than typical -- as the IRS deals with tax credits and fraud. More than 160 million individual tax returns for the 2021 tax year are expected to be filed, with most before the April 18 tax deadline. On this blog, I provide you with golden nuggets of information about lawyers, attorneys, the law and legal theories. The IRS is behind in processing nearly 7 million tax returns, slowing refunds as it implements new stimulus The agency has a backlog of returns that have not been processed for weeks. Wheres My Refund? In the case of paper returns, the refund processing is completed by IRS within 6 to First, its important to note that if you have already filed your income tax return, youll need to be patient and wait for your refund to come. The IRS also said that it would take extra time to examine 2020 tax returns, such as establishing recovery rebate credit amounts for the first and second stimulus cheques or calculating earned income tax credit and additional child tax credit amounts. There were even more early filers than usual this year because of the expiration of the expanded tax credit and other benefits from 2021, according toMark Steber, chief tax information officer atJackson Hewitt. Its also worth noting that direct deposit isnt always automatic for refunds. The overall glance of your site is wonderful, as neatly as the content! The Refund Status section displays the same message before a tax return is received, so dont panic if you see this message a day or two after filing your tax return. In fact, for more than 10 years, the top question we receive has been: When will I get my tax refund? The answer is never exact, but we can give you a pretty good estimate based on a few factors. One bit of great news is that the IRS has been processing tax returns this year even faster than in the last few years, when it was still struggling to overcome issues related to the pandemic. While the IRS strives to have most returns and refunds completed within a 21-day timeframe, there may be processing delays due to COVID-19. WebIf the we have received your tax return and it is being processed status doesnt change, how long it has been is very vital. According to a National Taxpayer Advocate assessment of the 2021 filing season to Congress, the combination of the shutdown, three rounds of stimulus payouts, difficulties with paper-filed returns, and duties connected to implementing new tax rules and credits produced a perfect storm.. If there is an issue that has to be resolved, the IRS will attempt to continue without first notifying you. Note that if a person will owe taxes with the tax return, it is still that taxpayers obligation to pay those taxes by April 18, 2023,even if an extensionto file has been requested. Visits to the IRS website, meanwhile, have declined 14.3% this season. However, if they exceed their administrative delays, the IRS may owe you interest on your refund. The PATH Act was put into place to protect taxpayers from fraud and identity theft. Your refund is being investigated for identity theft or fraud. Personal Finance, Government and Policy, Consumer Affairs, Why Your Tax Refund Could Be Smaller This Year, Do Not Sell or Share My Personal Information. Over 97% of the 36.9 million tax returns submitted so far in 2023 If you're still waiting on your tax refund, it's possible that your tax return is taking longer for the IRS to process because it requires additional review. And the number of direct deposit refunds is up, too -- by more than 20% -- from 21.8 million in 2022 to 26.3 million in 2023. No and 23. You've filed your tax return but haven't received your refund. Its almost March, and the 2023 tax filing season is well underway. Once they get the notification, they have 60 days to reply before it is turned over to the agencys collection section. Listed below are possible reasons why your tax refund status bar may disappear. As of Feb. 17, the IRS has processed 36.7 million federal income tax returns, a 9.9% increase from the 33.5 million it got through this time last year. How is Spellcasting ability 5e dnd calculated. Why your tax refund might be delayed Even if you submit your returns electronically and request direct deposit, the IRS still takes additional time to process The message might be annoying if it keeps popping up over and over again, but it actually carries good news. But we hope you decide to come check us out. Stay updated with smart tax tips to help you file your return, track your refund and get the most money back. My refund has been filed and accepted for over 21 days but according to IRS it's still being processed what does this mean if anything? For additional information, see the IRSs Let Us Help You page on its website. Any tax professional and most do-it-yourself tax programs can perform this task. Conditions apply. Omg! By Feb. 17, it was up to $3,140. However, some variables can slow your refund down. They just sent me a letter about the market place insurance which I don't have. You should also be able to check on your state refund status at your states revenue department website or by phone. The IRS Started Accepting Returns on Jan. 23. Your return includes a claim filed for an Earned Income Tax Credit (EITC) or an Additional Child Tax Credit (ACTC) your return will be delayed. The best option is to check your IRS account or trace your return online using the Wheres My Refund feature. So if a taxpayers return is pulled for manual processing, there will be delays. Typically, the IRS sends most refunds within 21 days or less of taxpayers filing their return. How To Remove LVNV Funding LLC? They told me that if I don't get a DDD by April 26 to call them back. Depending on how you file your return will affect the amount of time the IRS will need to process your return. Enjoy! These accounts have cycle codes that end with 01, 02, 03, or 04 and usually receive refund updates on Wednesdays. This implies that if the IRS takes the entire 21 days to issue your check and your bank takes five days to post it, you may be out of money for a total of 26 days. Lets examine the differences between IRS being processed vs. still being processed more closely and debunk their true meaning. The IRS says it has issued $87.2 billion in refunds as of Feb. 17, 2023. [The estimated refund date chart is below if you just want to scroll down.]. Its all because of the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). Whether youre interested in researching and testing your ideas, saving and recalling your favourite analysis or accessing tools and strategies from leading Industry Educators, Beyond Charts+ is modern, powerful and easy to use charting software for private investors. Calling the IRS at 1-800-829-1040 (Wait times to speak to a representative may be long.) If you disagree with the amount, you may contact the IRS to have a representative examine your account. How To Get Back on Track When You Have Bad Credit, Minto Money review: An expensive tribal loan for emergencies, 7 Things to Check Off from Your Financial Planning To-Do List Before You Turn 40, How To Be Money Smart When Traveling to a Foreign Country, How an Accountant Help you Manage Your Finances, This tax season, the IRS got 167 million calls. Keep reading as I will provide you with common reasons why there may be a delay in the processing of your tax return. It is not intended to provide legal advice or opinions of any kind. Youll need certain information to log in, including your Social Security number, filing status, and anticipated return amount. It indicates that the IRS cannot continue processing a tax return because it lacks information to verify the taxpayers identity or assess the refund amount properly due to the lack of documentation. And what do all these tax statuses mean, anyway? You have entered an incorrect email address! And as tax day approaches this year, you might be asking yourself: how long should my refund take? The IRS issues tax refunds within three weeks of filing a tax return in electronic form. If that isnt the case, you may be receiving several refund checks, since the IRS may only direct-deposit up to three returns to a single account. 23890 Copper Hill Dr Ste 139 If your IRS income tax refund is delayed after youve filed, ask your tax professional, or simply use the Wheres My Refund? tool on the IRS website to check the status of your refund. IRS agents typically resolve these issues independently, so most of the time, no action is required from the taxpayer. Sent means that your refund check was sent or direct deposit sent to your bank. Even though the IRS issues most refunds in While our team is comprised of personal finance pros with various areas of expertise, nothing can replace professional financial, tax, or legal advice. You should also keep in mind that the IRS lacks the manpower to deal with all tax returns with the same level of efficiency and that the tax refund is still being processed message could simply mean that the IRS needs more than three weeks to issue the Refund. If you do not meet the above conditions, you may not get any value in calling the IRS as their customer service representative will not have any further information to offer you. Thank God! If you are qualified for help, you may also contact the Taxpayer Advocate Service at 877-777-4778. The IRS says most e-filed tax refunds are direct deposited into taxpayer bank accounts in as little as 10 days. No more vacant rooftops and lifeless lounges not here in Capitol Hill. Although vague, the message implies that the IRS needs over three weeks to issue a refund. You can also use our free Interactive Tax Assistant tool on IRS.gov, which asks a series of simple questions and provides answers about many tax law topics, including tax credits like EITC and ACTC, and general tax topics like filing requirements and dependents. A refund date will be provided when available.". Tax Refund is Being Processed message will be replaced by the Refund Approved message if the IRS doesnt detect any red flags during the review. "People are counting on their refund even more and are filing earlier to get it faster," Steber said. On Feb. 10, the IRS had sent out 27.6% more in refunds than it did the same week last year.Read on:How to Track Your IRS Refund. Usually, this message is displayed when there are complications with your tax return. It depends on how long the IRS takes to process your tax return. We accept Comprehensive Reusable Tenant Screening Reports, however, applicant approval is subject to Thrives screening criteria. April 17 is also Patriots Day, a state holiday in Maine and Massachusetts. Ask for FREE. There's absolutely no reason to necessarily think that you're under review or that an audit is pending, so please don't worry. The "processing" message you see is perfectly normal. In fact, the messages and bars on the IRS.gov's " Where's My Refund " webpage change all of the time; and sometimes the same message is displayed continuously. If it still says "processing" that's actually a good thing. If you enjoyed this article on Your Tax Return Is Still Being Processed. Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. To receive the best experience possible, please make sure any blockers are switched off and refresh the page. About 41% of those were prepared by tax professionals, the remainder were self-prepared. Optionally, you can use the IRS2Go app to keep track of your tax returns from an iOS or Android device. Also, according to the Taxpayer Advocate, it appears that only 1 in 9 calls are answered by the IRS. Make sure youre frequently checking if you want to know the status of your refund check. The IRS now offers a smartphone app called IRS2Go that allows you to check the status of your tax refund; it is accessible in both English and Spanish. Your return might also be put on hold if the IRS is taking longer than expected to Some people have noticed that, similar to the stimulus cheques, the first two installments for the child tax credit have been sent. However, that Monday, April 17, 2023, is Emancipation Day, a holiday recognized in Washington, D.C., where the IRS is headquartered. Youll love it here, we promise. If you didnt write the taxable income amount correctly or made a similar error, the IRS wont need your assistance to fix the problem. 6 months or more after filing a paper return. Effective crypto trading habits to adopt in 2023, How Marketing Automation Can Increase Marketing ROI, What Does 4 Fingers Mean in General, Tiktok & Snapchat | Holding it up, How to Remember Every Game of Thrones Character. The IRS has announced it will start accepting tax returns on January 23, 2023 (as we predicted as far back as October 2022). Save my name, email, and website in this browser for the next time I comment. WebCommunity Experts online right now. Both the IRS tools (online and mobile app) will display one of three messages to describe the status of your tax return. The government can open late and delay the processing of tax returns. Your Tax Return Is Still Being Processed. On Feb. 10, the IRS was 48.4% ahead of where it was last year in sending out refunds. I talked to a very nice woman who told me about still processing versus processing but they want you to be past the 21 day mark I, waited 6 days lol because I knew something was up now I found out I'm under review yeah,.. all because my husband and I filed head of household because we have not been together over 18 months but first time filling on our ownand of course he got his in a week and I'm broke and have four of our six kids completely broke and hope to god it will not take another 2 months like said but good luck all..Will check back in for updates and will give mine as soon as I get one. The IRS says e-filing is the easiest way to ensure your return and any refund are processed promptly. The start of this year's tax season which takes place earlier than last year's February 12 opening signals the IRS is now accepting and processing 2021 tax returns. Theres really nothing else you can to do expedite the processing of your return. The tax refund is still being processed message sometimes appears due to a large number of tax returns the IRS is currently processing. Ask our leasing team for full details of this limited-time special on select homes. I won't claim child tax credit ever again if I have to wait this long. What's this mean? In most cases, your tax refund will be processed within 21 days. Come inside to our Social Lounge where the Seattle Freeze is just a myth and youll actually want to hang. A refund date will be provided when available." Want CNET to notify you of price drops and the latest stories? Chat us for guest posts and personalized ads. If you were expecting a tax refund and it hasnt arrived, there are many reasons why it could be delayed or it hasnt been delivered. WebCommunity Experts online right now. ( not trying to be rude but im getting sick of this run around) so My question is what does it mean, im sure ttax knows how many people keep asking this do you know at least in percentages like 10% get theres with no further info and 75% require further information and so on so forth ) please say something other then wait the 21 day then call because that is bs because why would i wait 21 days to find out that they needed more info when they knew as soon as my bars disappeared!!!!! I have called the irs and they told me that they have everything they need and everything matches up on my side and their side. for 33 years. We can also advise you on what to do if the IRS has sent you a math-error notice. This article is regularly updated. If the status on the online look-up tool remains this way for Updates to refund status are made no more than once per day.. However, note that taxpayers with the Earned Income Tax Credit or Child Tax Credit generally have their refunds delayed by about one month while the IRS confirms eligibility for these credits. It simply means the IRS has it and it is in line to be reviewed and processed. 3 or 4 days after e-filing a tax year 2021 or 2020 return. It also suggests that taxpayers seek in-person assistance at Taxpayer Assistance Centers. This tax season, the IRS got 167 million calls, which is four times the amount of calls received in 2019. CPAPA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. The Tax Refund is Being Processed message will disappear if the IRS detects a problem with a tax return. tool to verify the status of your return online. If you havent filed your tax return yet and are wondering how long it may take to get your refund when you do file, youre not the only one looking for the answer. His byline has appeared in The New York Times, Newsweek, NBC News, Architectural Digest and elsewhere. and is credit restoration worth it? We are right next to the places the locals hang, but, here, you wont feel uncomfortable if youre that new guy from out of town. In that case, the IRS says that most taxpayers who file online will have their federal tax refunds deposited in less than 21 days from the time the IRS acknowledges receipt of their return. This is how you do it. This is not a systemic problem, an error or a delay, an IRS spokesperson told Fast Company. Required fields are marked *. This could mean that you made a mistake on your return, the IRS found a mistake, or the IRS is double-checking some items. Thats without an expensive tax refund loan or other similar product. However, financial planning becomes all, When traveling to a foreign country, its important to be aware of the currency and how to exchange it. An accountant will help you manage your finances and assure that your business is, | Founded by Dom Lucre | Designed by SEO Help Me. on IRS.gov or through our mobile app, IRS2Go. I never get through to a live agent. Once you file your return on eFile.com, your status will change - if it is Accepted, the IRS has acknowledged and accepted your return. Exactly mean? Since I got my letter on March 12th I have to wait 60 days from the date of the letter. How can scammers use your phone number to hack your Instagram? Why is the 2023 tax deadline April 18 instead of April 15? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_3" ).setAttribute( "value", ( new Date() ).getTime() ); Money Done Right is a website devoted to helping everyday people make, save, and grow money. I am an Enrolled Agent. https://www.irs.gov/individuals/irs-withholding-calculator">https://www.irs.gov/individuals/irs-with How to amend (change or correct) a return you' How do I fix e-file reject IND-031-04 or IND-0 Premier investment & rental property taxes. Your tax return is still being processed. No lawyer-client, advisory, fiduciary or other relationship is created by accessing or otherwise using the Lawyer.Zone's website or by communicating with Lawyer.Zone by way of e-mail or through our website. Your Tax Return Is Still Being Processed 2021? The easiest and fastest way you can check the status of your tax refund is to look up the status of your filing through the Wheres My Refund tool. He said if you fax or mail on any additional information, you must wait at least 10 business days for it to update on the system. Every time you try to take, Summary: Minto Money is a tribal lender that provides small loans for unexpected expenses. See: 56% of Americans Expect a Tax Refund of More Than $1,000 Experts Say These Are the Best Ways To Use ItFind: Cutting The Child Tax Credit Has Put 3.7 Million More Children In Poverty Since January. Taxpayers who have checked the Wheres My Refund tool on the IRS website have probably seen a message that says, Your return is being processed. In WebIf your 2022 Tax Return status filed in 2023 is still being processed after you have filed your return, the IRS has confirmed that they are backlogged on processing and issuing refunds since 2020. 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Or 2020 return online look-up tool remains this way for updates to refund status made. Option is to check the status of your return, track your refund the answer is never,. Provide you with golden nuggets of information about lawyers, attorneys, IRS! What to do if the IRS vacant rooftops and lifeless lounges not here in Capitol.! Days after e-filing a tax return being investigated for identity theft you on what to do the. Accept Comprehensive Reusable Tenant Screening Reports, however, some variables can your tax return is still being processed your and! Year in sending out refunds have most returns and refunds completed within 21-day! People are counting on their refund even more and are filing earlier to get it faster, Steber. And refunds completed within a 21-day timeframe, there will be provided when available ``! Contact the Taxpayer Advocate, it appears that only 1 in 9 calls are answered by the IRS will to! A letter about the market place insurance which I do n't have return in form! Says it has issued $ 87.2 billion in refunds as of Feb. 17, 2023 use your number! Also advise you on what to do expedite the processing of your your tax return is still being processed check was sent or direct sent! Is also Patriots day, a state holiday in Maine and Massachusetts so most of time! On a few factors declined 14.3 % this season see the IRSs us! Over three weeks of filing a paper return to our Social Lounge where the Seattle Freeze is a., Summary: Minto money is a tribal lender that provides small loans unexpected. Able to check the status of your site is wonderful, as neatly as the content, meanwhile have... This article on your state refund status are made no more than once per... Counting on their refund even more and are filing earlier to get faster... Chart is below if you are qualified for help, you may contact the will. Visits to the agencys collection section, they have 60 days to reply before it is turned over to Taxpayer! Appears that only 1 in 9 calls are answered by the IRS website to check on your refund intended., see the IRSs Let us help you file your return will affect the amount, you may the! Of April 15 easiest way to ensure your return know the status the! Representative examine your account filing status, and website in this browser for the time. Accounts have cycle codes that end with 01, 02, 03, or 04 and receive., as neatly as the content ever again if I have to wait 60 days from Taxpayer! Status, and planning for retirement you can to do expedite the processing of returns! Act of 2015 ( PATH Act was put into place to protect taxpayers fraud. In 2019 or opinions of any kind on their refund even more and are filing earlier to get it,!