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The answer: not much yet! The prompt means that the IRS has received your return, but due to Covid-19 delays, the IRS is experiencing a considerable backlog, slowing processing times and disbursements. Typically the IRS processes tax returns and issues refunds within 21 calendar days of receipt. The IRS even stated in January communicating the 21-day time frame. Add in the pandemic-related tax changes and child tax credit advances, and this tax season is more complicated than ever. Avoid filing a paper return. Use electronic filing with direct deposit to receive your tax refund the fastest way. If your tax refund is delayed, you have options. You can call the IRS, but you should wait out the delays before putting yourself through this added stress. Due to the backlog, it can take 6-8 weeks to process your tax return. The following are some of the reasons why tax returns take longer than others to process:
How to contact the IRS You may call 800-829-1040 with any Federal tax questions. Getting through to the IRS over the phone is a challenge. According to the Taxpayer Advocate, only 1 in 9 calls to the IRS are answered. This even with a long wait time. Not surprisingly, it is best to call right when the IRS opens eastern time or late in the day before closing. Does the IRS owe you interest on late refunds? Even with the delays, the IRS owes you interest on your money. The IRS has administrative time (typically 45 days) to issue your refund without paying interest on it. You have until April 18 to file your taxes for this year. If you don't receive a refund within 45 days after the deadline, then interest may be owed by Uncle Sam. Related Articles: When Will I Get My Tax Refund?How soon you’ll receive your tax refund will vary depending on how and when you file your tax return, the accuracy of the information in your return and how you choose to receive your refund. You could see your refund in as little as 21 days.
Fact Checked Annuity.org partners with outside experts to ensure we are providing accurate financial content. These reviewers are industry leaders and professional writers who regularly contribute to reputable publications such as the Wall Street Journal and The New York Times. Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism. Our expert reviewers hold advanced degrees and certifications and have years of experience with personal finances, retirement planning and investments. Cite Us APA Schell, J. (2022, September 20). When Will I Get My Tax Refund? Annuity.org. Retrieved October 7, 2022, from https://www.annuity.org/personal-finance/taxes/when-will-i-get-my-tax-refund/ MLA Schell, Jennifer. "When Will I Get My Tax Refund?" Annuity.org, 20 Sep 2022, https://www.annuity.org/personal-finance/taxes/when-will-i-get-my-tax-refund/. Chicago Schell, Jennifer. "When Will I Get My Tax Refund?" Annuity.org. Last modified September 20, 2022. https://www.annuity.org/personal-finance/taxes/when-will-i-get-my-tax-refund/. Tax Refund Schedule (2021 Tax Year)The 2022 tax filing season, in which returns for the 2021 tax year are processed, began on Jan. 24, and the deadline to file your return is April 18. The first step toward getting your refund is to file your tax return. To do so, you’ll need to gather identification and a W-2 statement from your employer or other earning statements like 1099 forms. If you’re married, you need to choose whether you’ll file separate returns or a joint return. You’ll also have to decide how you’ll file your return — whether you’ll take it to a preparer or file it yourself using tax preparation software. Once you file your return, the IRS will review it and approve or reject your return. If your return is approved and you are owed a refund, you should receive it in a matter of weeks. If your return is rejected, the IRS will notify you and let you know the next steps to correcting your return. Refunds for the 2021 tax year are already being processed and sent out to taxpayers all over the country. According to the IRS, as of Feb. 4 over 4 million refunds had been issued. How Long Does It Take To Get Your Tax Refund?Many Americans look forward to receiving their tax refund each year to help make important personal finance decisions, and you may be wondering how soon you’ll get yours. The time it takes to receive your tax refund can vary based on several factors, including when and how you file your tax return. According to the IRS, the best way to avoid delays on your tax refund is to file an accurate tax return using e-file software to file electronically and opting to receive your refund via direct deposit. Most filers who use this method should receive their refunds within 21 days of submitting their return online. If you mail your return, you can expect to receive your refund in about six to eight weeks from the date the IRS receives your return. You can choose to receive your refund as a check in the mail, but keep in mind that you will likely receive your refund anywhere from a few days to a few weeks later than you would have with direct deposit due to transit time. Whether filed electronically or on paper, all returns are opened and processed by the IRS in the order they are received, so the earlier you file your taxes, the earlier you’ll receive a refund. Join Thousands of Other Personal Finance Enthusiasts Because missing out on important news and updates could cost you. How Long Does It Take the IRS To Approve a Refund?The IRS reports that most returns are processed and approved within a few days of when they are received, and most refunds are issued less than 21 days after the return is received. If you filed weeks ago and still haven’t received your return, there could be several reasons why you’re experiencing a delay. The most common causes for tax refund delays include simple math errors, inaccurate or missing information and missing signatures or attachments. Tax returns with errors involving the third stimulus check, which was issued in early 2021, or returns that are missing information or have been flagged as suspected fraud or theft could be delayed for up to 90 to 120 days. Taxpayers who claim the earned income tax credit (EITC) or the child tax credit (CTC) may also experience delays in receiving their refunds, even if their returns were filed accurately. Claiming these credits will slow down the processing of your return because of regulations designed to give the IRS time to deal with fraudulent returns. Even if you filed your return before Jan. 24, the first day the IRS began processing returns, you may not receive your refund until early March. Federal Tax Brackets Is There a Delay on 2022 Tax Refunds?Last year, many taxpayers ended up waiting longer than the usual 21 days — some as long as eight weeks — to receive their refunds as the IRS was dealing with the backlog of returns caused by the COVID-19 pandemic. The IRS is still working through this backlog of 2020 tax returns. Because of this, many tax experts expect that some refunds will be delayed this year. You can check your tax return status online using the IRS’ Where’s My Refund? tool. To use this tool, you’ll need the following information:
The tool can tell you the status of your refund from 24 hours after you e-file, or four weeks after you mail your return. The system is updated each day, usually overnight. You can also call the IRS TeleTax System at 1-800- 829-4477 to check the status of your refund over the phone. Be aware that the volume of calls trying to reach IRS representatives is at an all-time high, and the IRS recommends that you do not attempt to call until 21 days after you e-file or four weeks after you mail your return. How can you get a bigger tax refund? Making sure you claim dependents and take advantage of all available tax credits can help you maximize your refund. Talking to a CPA or tax professional can give you personalized tax advice for your specific situation on how much tax you’ll get back. When will child tax credit refunds be issued? If you applied for the expanded child tax credit on your tax return, you may receive your refund later than expected. This is because the IRS is unable to issue refunds involving the additional child tax credit before mid-February. This delay is designed to give the IRS additional time to stop refund fraud. When should I hire a tax attorney? You may need to hire a tax attorney for a variety of business affairs or life events. Consider involving an attorney if you are being audited, want to leave money for your heirs, or are buying, selling or starting a business. Advertisement Connect With a Financial Advisor InstantlyOur free tool can help you find an advisor who serves your needs. Get matched with a financial advisor who fits your unique criteria. Once you’ve been matched, consult for free with no obligation. Please seek the advice of a qualified professional before making financial decisions. Last Modified: September 20, 2022
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Why does it say my taxes are still being processed 2022?The prompt means that the IRS has received your return, but due to Covid-19 delays, the IRS is experiencing a considerable backlog, slowing processing times and disbursements. Typically the IRS processes tax returns and issues refunds within 21 calendar days of receipt.
Why does my tax return say still being processed?If your tax return status is "Still Being Processed" your tax return could be essentially on hold until the IRS corrects any issues and/or gets the additional information from you to continue processing your return.
How long are the 2022 taxes taking to process?If you filed on paper, it may take 6 months or more to process your tax return. For service delay details, see Status of Operations. The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it's possible your tax return may require additional review and take longer.
Should I call the IRS if my refund is still being processed?tool says “Your return is being processed,” it might be worth a call to the IRS. If you don't receive a refund within 45 days of the tax filing deadline, the IRS is required to pay you interest on your refund.
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Your tax return is still being processed august 2022
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