The Internal Revenue Service (IRS) is currently in the process of receiving and handling income tax returns. To ensure a prompt refund, it is advised to file before the April 15 deadline. If you’ve submitted your paperwork early, your diligence will be rewarded with an earlier refund, depending on factors such as filing method (online or paper) and payment preference (direct deposit or paper check). The quickest turnaround, typically within 21 days, is expected for flawless online returns opting for direct deposit, with a potential payment date by February 27, 2024. The provided table offers an estimate of refund arrival based on submission date and payment method.
It’s important to note that electronic filing expedites the processing time, taking approximately a week, while paper returns may undergo a more prolonged evaluation process. Additionally, if you claim Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC), the refund may take up to a month to arrive, as the IRS requires time to verify eligibility for these credits.
click here to read more
Add a Comment