Where’s My Tax Refund? It Might Be Delayed
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Listen at schwab.com slash washingtonwise.
Before we get into today's episode, your Money Briefing is exploring what you need to know to become a homeowner and sustain your home. You can get early access to our series, Buying a Home and Keeping It, on WSJ Special Access, available only for WSJ subscribers. Now on to the show. Here's your Money Briefing for Thursday, April 18th. I'm J.R. Whelan for The Wall Street Journal. It's a common question this time of year. Where's my refund? Some people get their money back from the IRS lickety split after filing their return. But for others, it's a game of waiting and waiting, sometimes months or longer.
There are lots of reasons. The simplest one is if you do file by paper. So there could be math mistakes.
How quickly do most taxpayers receive an IRS refund after filing electronically?
Those can sometimes happen. be quick to fix. The IRS computers can even fix them. And then they'll just send you a notice afterwards explaining how they did the fix.
We'll talk to Wall Street Journal personal finance reporter Ashley Ebling about how to track down your refund after the break.
Listen at schwab.com slash washingtonwise.
After you file your taxes, how long should you expect to wait for your refund to arrive? What could cause it to be delayed?
Why does filing a paper return or math errors delay my refund?
Wall Street Journal personal finance reporter Ashleya Ebling joins me. Ashleya, if somebody filed their return by the April 15th deadline, how long on average does it usually take for them to get their refund?
For nine out of 10 taxpayers, it's really quick. It's less than 21 days. That's assuming, like most taxpayers, that you file electronically and you ask for direct deposit of your refund.
What are some typical reasons a person's refund might be delayed?
There are lots of reasons. The simplest one is if you do file by paper. That always takes a few weeks longer. Also, the IRS computers run all kinds of checks when your return goes in. So there could be math mistakes.
How can I check the status of my refund on the IRS website or app?
Those can sometimes be quick to fix. The IRS computers can even fix them, and then they'll just send you a notice afterwards explaining how they did the fix. Worst case scenario is something like identity theft that can take a year or longer.
What's the first step for somebody who notices after, say, a few weeks that their refund hasn't arrived?
The first thing to do is to check where's my refund, and that's on irs.gov. Also, the IRS To Go app has it. And you need to plug in your social security number or your taxpayer identification number, the exact dollar amount of your expected refund, and your filing status. That's like whether you filed single or married filing joint. It'll say received, and then it'll later say approved. And then later after that, it'll actually say the refund sent out and what date it's It's supposed to be sent out. The IRS has improved that this tax season. There's even more information on there where it might say we're missing a document and then you should expect a letter from us. So then in that case, they look out for the letter and you'll likely be able to upload it to the IRS system.
What if a longer period goes by, like six weeks goes by and still no refund?
So at that point after you've checked out where's my refund and seen if there's any special instructions there, call the IRS. They are answering phones more quickly than they used to. So that's a good sign.
When should I call the IRS if my refund still hasn't arrived after weeks?
Sometimes they'll be able to say the IRS is waiting for you to send in certain information like the missing form. Unfortunately, other times taxpayers are telling me they really, they just, they don't know.
They don't know what?
Sometimes even the IRS phone representative won't know what's holding it up.
OK, that's got to be not very encouraging for the taxpayer.
No, no, it is a little frustrating. And that I have to say, we had a lot of readers who written in saying they're dealing with these really long refund delays. It's not as bad as it was during the pandemic, but there's still these cases of just super long waits for refunds.
After that step, what happens then? Whose job is it to sort it out?
So there's an independent office within the IRS called the Taxpayer Advocate Service.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:01–1:18
2
How quickly do most taxpayers receive an IRS refund after filing electronically?
1:18–2:20
3
Why does filing a paper return or math errors delay my refund?
2:20–3:04
4
How can I check the status of my refund on the IRS website or app?
3:04–4:29
5
When should I call the IRS if my refund still hasn't arrived after weeks?
4:29–5:40
6
What can the Taxpayer Advocate Service (Form 911) do to speed up my refund?
5:40–7:46
7
How much has the IRS reduced its pandemic backlog and does it affect refunds?
7:46–8:43
8
Will the IRS pay interest on delayed refunds and how is that interest taxed?
8:43–9:32
Speakers
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