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Why Some Refunds Take Longer than 21 Days<\/strong><\/p>\n\n\n\n For taxpayers who file electronically and choose direct deposit of their refund, their refunds sometimes take longer than the IRS’s announced expected time frame of 21 days.<\/p>\n\n\n\n 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<\/a> or fraud.<\/p>\n\n\n\n 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 (EITC) or an Additional Child Tax Credit, or includes Form 8379, Injured Spouse Allocation , which could take up to 14 weeks to process.<\/p>\n\n\n\n To check the status of a refund<\/a>, taxpayers should use the Where\u2019s My Refund?<\/a> 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\u2019s e-filed return. <\/p>\n\n\n\n For those taxpayers who cannot file electronically or simply refuse to do so, the IRS states that they should wait at least four weeks before checking the status using the Where\u2019s My Refund?<\/a> tool.<\/p>\n\n\n\n Tax Tip #1<\/p>\n\n\n\n Taxpayers should not rely on receiving a refund by a certain date, especially when making major purchases or paying bills. In addition to the above listed reasons that the IRS may delay the processing of a refund claim, the policy and procedures of your financial institution may delay the posting of the refund to your account.<\/p>\n\n\n\n Tax Tip #2<\/p>\n\n\n\n Calling the IRS to inquire about the status may be helpful in the following situations:<\/p>\n\n\n\n Tax Tip #3<\/p>\n\n\n\n The tax filing season is when the scammers and ID thieves surface in large numbers. Like the roaches they are, the lights have been turned on. Accordingly, if you receive any phone calls or mail asking for information, do your due diligence to make sure that it is indeed the IRS who is asking for this information. Scammers use fictitious phone numbers that appear to be from the IRS, and mailings often copy IRS logos and images to make them appear legitimate. If you work with a tax professional, always send that mail correspondence to them and notify them of any phone call requests from the IRS. Your tax professional is intimately familiar with the return s\/he prepared and should have familiarity with IRS issues which the IRS may be asking for more information. <\/p>\n\n\n\n Tax Tip #4<\/p>\n\n\n\n When calling the IRS, be prepared to prove your identity. Have your current and prior year return in front of you as you will likely be asked to verify information on those returns. Also, be prepared for very long wait times and possible phone disconnects. <\/p>\n\n\n\n <\/p>\n\n\n\n If you would like to discuss your business or personal tax planning<\/a>, tax preparation<\/a> and other financial concerns with an experienced tax professional, we invite you to call 610-594-2601<\/a> today to make an appointment at our Exton PA CPA office<\/a> to discuss your situation. You can also schedule a consultation at Click Here<\/a>. <\/p>\n\n\n\n Copyright \u00a9 2022 Keystone Financial Solutions, Inc. All rights reserved. <\/strong><\/p>\n\n\n\n BE SURE TO READ THE DISCLAIMER PAGE: Tax laws, IRS rules and regulations change frequently<\/strong>. Although we hope you’ll find this information helpful, this blog is for educational purposes only and should not be considered as the rendering of tax, legal or investment advice. The publisher shall not assume liability for any losses, injuries, or damages from the display or use of this information.<\/strong><\/p>\n\n\n\n About F. Bryan Haarlander, EA, CTRS:<\/strong><\/p>\n\n\n\n Bryan\nHaarlander is an IRS licensed Enrolled Agent and who owns and operates a\nspecialized tax services firm serving clients in the western suburbs of\nPhiladelphia, PA, which includes the cities of Chester Springs, Coatesville,\nCollegeville, Devon, Downingtown, Exton, Frazer, King of Prussia, Paoli, Philadelphia,\nPhoenixville, Pottstown, Radnor, Reading, Wayne, West Chester in Berks,\nChester, Delaware, Montgomery and\nPhiladelphia Counties, as well as clients in Delaware, New Jersey, New York and\nthroughout the continental USA. <\/p>\n\n\n\n
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