Tax refunds are reaching millions of families in the US at a rapid pace, as the IRS (Internal Revenue Service) is issuing these checks in large numbers to settle pending payments as soon as possible. Although many people have already filed their tax returns, they have still not received their refund yet. But now, the wait is about to end and soon these annual tax payments are going to reach the bank accounts.
If we keep an eye on the IRS payment schedule, we can get an idea of when our tax refund will arrive. However, this type of amount should not be considered as a part of your regular budget, as it may get delayed due to some reasons. But it is always beneficial to know when this money will reach our hands.
When will the IRS tax refund arrive?
The date of receiving the tax refund depends entirely on the day on which you filed your tax return. But despite this, there may be some delay in it due to the document checking and verification process. For example, even if you filed your tax return three weeks ago, the money may not have hit your bank account yet.
The IRS typically takes up to 3 weeks to review your documents and process your refund. So, you may receive your refund sooner or later depending on the date you filed your tax return.
Tentative Tax Refund Payment Calendar
Below is a tentative calendar to give you an idea of the date your tax refund will be sent, depending on the date you filed your tax return:
Tax Return Filing Date | Estimated Direct Deposit Date |
---|---|
February 24 | March 17 |
February 25 | March 18 |
February 26 | March 19 |
February 27 | March 20 |
February 28 | March 21 |
February 29 | March 22 |
March 1 | March 23 |
March 2 | March 24 |
March 3 | March 25 |
March 4 | March 26 |
March 5 | March 27 |
March 6 | March 28 |
March 7 | March 29 |
March 8 | March 30 |
Direct Deposit Will Help You Get Your Tax Refund Sooner
The IRS typically sends these refunds via direct deposit. If you have this option enabled, the money will be immediately credited to your bank account as soon as the IRS issues the payment.
But if you don’t have this option, it may take a few extra days before you receive payment via paper check. In the case of paper checks, the postal system may delay the payment. So, if you want to get your tax refund sooner, it is best to opt for direct deposit.
Will you get a tax refund of $2,250?
The amount of tax refund may vary from person to person. However, the average tax refund this time is said to be around $2,250. But note that in some circumstances you may get a higher or lower amount than this.
The exact amount of your tax refund will depend on the following factors:
- Your income – People with lower incomes may get more refund in the form of tax credits.
- Deductions made – If you have claimed expenses eligible for tax deductions, the refund amount may increase.
- Filing status – If you are married and filing a tax return jointly, your refund may be different.
- Additional credits – Schemes like the Child Tax Credit and the Earned Income Tax Credit can affect your tax refund amount.
What to do to get your tax refund sooner?
If you want your tax refund on time or as soon as possible, follow some of the tips given below:
- ✅ Opt for direct deposit: It is faster and safer than getting paid by check.
- ✅ Avoid mistakes: Making any mistake in your tax return can delay the payment. So, pay attention while filling it.
- ✅ Do electronic filing: E-filing makes the processing of tax returns faster.
- ✅ Check the status from the IRS website: Use the IRS “Where’s My Refund” tool to know the status of your payment.
Conclusion: Get your tax refund soon!
If you haven’t filed your tax return yet, don’t delay any more. The IRS is rapidly issuing tax refunds, providing relief to millions of American families. If you have already filed your return, you may receive your payment soon, according to the calendar above.
If you have any doubts about your tax refund, check the status of your refund by visiting the IRS’s official website. Make sure your information is correct and updated so that you can get your money without any delay.
The wait is over! You may soon receive a tax refund of $2,250 in your account.
FAQs
Q. When will I receive my IRS tax refund?
A. The IRS typically issues refunds within 21 days of accepting your tax return.
Q. How can I check my tax refund status?
A. You can track your refund using the IRS “Where’s My Refund?” tool on their website.
Q. Why is my tax refund delayed?
A. Refunds may be delayed due to errors, missing information, or additional IRS reviews.
Q. Can I change my refund payment method after filing?
A. No, once your return is filed, you cannot change the payment method.
Q. What happens if my direct deposit fails?
A. If the deposit fails, the IRS will mail you a paper check to your registered address.