Stay Informed: How to Track Your IRS Tax Refund Status

Many Americans are unsure if they will owe money or receive a refund when tax season arrives. Interestingly, nearly half of those who file their taxes expect to get cash back. The IRS, which is the agency that handles taxes in the U.S., has found that about 75% of people end up paying more than they owe.

Refunds can vary widely—some might be just a few dollars, while others could be several thousand. In 2024, the average refund is predicted to be around $3,004. Because this is a significant amount, many people like to keep track of their refund status.

It's important to know that getting your refund isn't instant; the IRS can take a few weeks to process everything. After that, it may take five to ten days for banks to deposit the money into your account or for physical checks to reach you in the mail. Thankfully, the IRS has a way for people to check the status of their refunds on its official website.

Tracking Your IRS Tax Refund Status

Taxpayers can quickly check the status of their refunds using the IRS "Where's My Refund" tool, which you can find at IRS.gov/refunds.

To find out when your refund will be ready, you'll need to provide a few details:

- Your Social Security number or Taxpayer Identification number

- Your filing status, which is how you filed your taxes (like single or married)

- The exact amount of your refund.

 

To check the status of your tax refund, you can log into your IRS account using a web browser or the IRS2Go mobile app. If you're unsure how much you should get back, look at the refund amount on your most recent tax return. Once you enter the required information, you'll see the status of your refund for the latest tax year available. The IRS updates refund statuses every day. However, processing electronic tax returns usually takes about 24 hours, while mailed paper returns might take up to four weeks.

If you need to speak with someone at the IRS, it's best to wait at least 21 days after you've filed your return electronically. You can also use the "Where's My Refund" tool to see when it's a good time to reach out. For paper returns, be ready to wait around eight weeks before asking about your refund.

 

Tips to Speed Up Your IRS Tax Refund

After you file your taxes, getting your refund usually takes about four to eight weeks, but sometimes it can take longer. Here are some simple ways to help speed up the process:

1. File Your Tax Return Online: Sending your tax return electronically is quicker than mailing it.

2. Choose Direct Deposit: Choose to have your payment directly deposited into the bank account of your preference.

3. Track Your Refund: You can start checking the status of your refund the day after you file so you know where it is.

4. Contact the IRS if necessary: Please call the IRS for assistance if you haven’t received your refund after three weeks.

 

What Happens If I Owe Money to the IRS?

If you haven't paid enough taxes, the IRS will notify you that you still owe them money. This notice will include a deadline for when you need to make your payment. If you don't pay by that date, you might face a penalty, a fee that adds up each month based on how much you owe. Disregarding communications from the IRS may result in more severe outcomes and additional expenses.

Dealing with the IRS can be stressful, especially if you owe money or expect a refund. It can help to work with tax relief experts who know the ins and outs of the system. They can guide you and make the whole process much easier to navigate.