Haven’t received your refund yet? Why the IRS Delays Refunds

If you filed your taxes early and are still waiting for a refund, there may be several reasons why your refund is delayed with the IRS. The IRS usually issues refunds about two to three weeks after you file your return, but some returns are being delayed this year. The IRS has listed these reasons, and if any of them apply to you, you should be patient and wait for your refund. If those reasons do not apply to you, you should contact the IRS.

Reasons for delayed refund from IRS

Tax season started on January 29th this year. Given that it takes the IRS less than 21 days (from the filing date) to issue a refund, taxpayers who filed electronically and chose direct deposit to receive their refund will have received their refund from the IRS.

However, some taxpayers are still waiting for their refunds, and there can be a number of reasons why refunds are delayed from the IRS. One of the main reasons your refund may be delayed is because modifications require additional return processing time. If the data on your return is inaccurate, the IRS will need more time to find the correct data from you.

Another reason your refund may be delayed may be the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC). If you claim the EITC or ACTC, you have until February 27 to receive your refund, according to the IRS.

By law, the IRS must wait until mid-February to issue refunds to taxpayers claiming the EITC. However, some EITC/ACTC filers may receive their refund a few days in advance.

If you filed your return online and selected direct deposit for your refund, you can receive your refund until February 27 if the IRS determines there are no issues with your return. If you filed your return manually, chose a physical check to receive your refund, or if there was an issue with your return, delays may be longer.

Additionally, delays in receiving refunds from the IRS may be due to the financial institution’s inability to process refunds promptly. Some financial institutions do not process transactions on weekends or public holidays. In these cases, federal and local holidays may delay your refund from the IRS.

How to check refund status

The IRS recommends that taxpayers check the status of their refund in the Where’s My Refund tool. “For most initial EITC/ACTC filers, you will see the status of my refund updated by February 17,” the IRS says.

Apart from this, taxpayers can also check their refund status using the IRS2Go app. According to the IRS, both applications are typically updated with the latest data once a day.

The IRS expects more than 128.7 million tax returns to be filed by the April 15 deadline. However, the deadline for residents of Maine and Massachusetts is April 17 due to the Patriots Day and Emancipation Day holidays.