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Here are some reasons your tax refund may be delayed this year – and tips for what you can do if yours is late.
There are several common reasons that your tax refund may be delayed. Below, we’ll go into more detail about the most common reasons and how each can impact your refund timeline. Filing an incomplete tax return. A common cause of delayed tax return processing, leading to delayed refunds, is missing information on the return.
Here are some of the reasons why your tax refund may be delayed: Reason #1 – IRS Taking Your Refund. When the IRS issues refunds, it mainly takes or reduces (offsets) refunds when taxpayers have debts to pay. Here are the two most common situations: You owe federal taxes, and you haven’t paid:
Tax Refund Delay: What to Do and Who to Contact. Paper returns often take longer than online returns to process. This can be for a few reasons, including errors on your return, wrong bank info and more.
The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process.
Incorrect numbers can cause a refund to be delayed or deposited into the wrong account. Taxpayers can also use their refund to purchase U.S. Savings Bonds. Mail paper returns to the right address. Taxpayers and tax professionals are encouraged to file electronically if possible.
Where's My Refund shows your refund status: Return Received – We received your return and are processing it. Refund Approved – We approved your refund and are preparing to issue it by the date shown. Refund Sent – We sent the refund to your bank or to you in the mail.
You may get a letter or notice from the IRS saying there’s a problem with your tax return or your refund will be delayed. There are many reasons why the IRS may be holding your refund. You have unfiled or missing tax returns for prior tax years.
It is basically the IRS telling you to stay patient and hold on until they finish processing. It also lists several reasons why your return may be delayed, in order to set future expectations.
1. You filed on paper. The IRS typically issues refunds for electronically filed tax returns within three weeks. For paper returns, the turnaround is generally twice as long. That's why it...