![]() ![]() How can I track my refund using the Where's My Refund tool If you filed a paper return, it began the day that the IRS marked your return as "accepted." If you electronically filed on time, the 45-day period started on April 18. If you filed a proper return on time and the IRS does not issue your refund within 45 days after accepting it, the agency is required to start paying interest on your refund amount.Īs of July 1, the interest rate rose from 4% to 5% as a result of the Federal Reserve's recent decision to raise the federal funds rate. If you've requested a paper check for your tax refund, that'll take longer, too - about six to eight weeks, according to the IRS. However, if it needs any more information, it will write you a letter. If there's a problem that needs to be fixed, the IRS will first try to proceed without contacting you. If the delay is due to a necessary tax correction made to a recovery rebate credit, earned income tax or additional child tax credit claimed on your return, the IRS will send you an explanation. Retting said that, in 2021, the agency received "far more than 10 million returns" in which taxpayers failed to properly reconcile their stimulus payments with their recovery rebate credit, which required a manual review and resolution. In testimony to the House Ways and Means Committee, IRS Commissioner Charles P. You didn't properly enter your stimulus payments.Your return had errors or was incomplete.There are numerous reasons why your tax return may not have been completely processed yet, resulting in a delayed refund. ![]() Read on to learn how IRS overpayment interest works, how to use the agency's tools to track your refund and how to access your online IRS account to get more information. To determine the status of your return, you can use the IRS tax refund tracker, which will also let you know if your return has been rejected by the IRS because of errors.
1 Comment
4/21/2023 02:21:35 am
If you (or one of your employees) make personal use of something that belongs to the business, you also need to report it as a benefit and then pay any tax due. It’s quick and easy.
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