The 2023 tax season is officially here, and taxpayers across the country have only a few months to pay taxes, file a return or request an extension. January 23 marked the first day for individual filers to submit their tax returns. While you might assume you have plenty of time to file your tax return, the deadline of April 18 is approaching faster than you think. The IRS is estimating more than 168 million tax returns to be filed this year.
Amid all the stress, you may wonder about the status of your tax return. You may even Google ‘Where’s my refund?’ to check the status of your tax returns. Here’s a guide to help you track the status of your tax refund in 2023.
The fastest way to get your tax refund is to file electronically with direct deposit, according to the Internal Revenue Service (IRS). The agency is expected to refund your return at least 21 days after you file through an electronic medium. On the other hand, it may take up to six months for your tax return to arrive if you mail your paper return. You can also call the IRS to check your refund status.
The IRS allows you to provide the information of the direct deposit account where you would want your return to be credited. You can provide the information on your Form 1040 or 1040-SR when you file. If you file IRS Form 8888 with your tax return, you can tell the agency to divide the money and deposit it into as many as three different investment accounts.
Tracking tax refund status
You can track the status of your tax refund simply through the ‘Where’s My Refund?’ tool. It is available on IRS.gov or through the IRS2Go App. According to the agency, the website is updated with the payment statuses once per day, usually overnight. Therefore, taxpayers can start checking their refund status within 24 hours after an e-filed return is received.
The Where’s My Refund? tool will require taxpayers to provide their Individual Taxpayer Identification Number or Social Security number, filing status and the amount of the refund to issue information regarding your tax refund.
Note: Nine states including Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming don’t collect income tax.
At the same time, taxpayers who claimed the earned income tax credit or the additional child tax credit can expect their refund by March 1 if:
- They filed their tax return online.
- They opted to get their refund by direct deposit.
- The IRS found no issues with their return.
How to get a tax refund quickly
One of the best ways to get a faster tax refund is to avoid filing your return on paper. The agency can take up to 6 months to process paper returns. Secondly, you can start checking the status as soon as possible to be aware of the situation. You can also track the status of your state tax refund by visiting a specific state’s revenue and taxation website. In addition, if you haven’t received your tax refund even after 21 days (online) or six months (through a paper route), you must go to a local IRS office or call the federal agency.
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