Tax season is now well underway. Millions of Americans have already submitted their 2023 taxes in only a few weeks of the law’s introduction. Numerous individuals are currently eagerly awaiting their IRS federal return. This page will allow you to track the progress of your federal return.
Track Federal Refund
If your 2023 tax return has already been submitted then your federal refund is on its way to you. You’re curious as to its location. An electronic refund is the quickest method available for getting a refund earlier, according to the IRS, though there are other options as well.
Your refund will likely be processed within 21 days if you filed electronically and selected direct deposit as your method of receiving it. The IRS stated that processing a paper return that you sent in hopes of receiving a refund might take up to four weeks.
You may monitor the progress of your federal return by using the IRS “Where’s My Refund” service. This tool allows you to see when the IRS received your tax return, when it approved a refund, and when it issued the refund.
If you opted for direct deposit, the funds ought to be in your account five days after the IRS authorizes your reimbursement. In this article, you may find the step by step process to track your Federal Return, so stay connected.
How to Track Federal Refund?
To track tax refund status, you have to go through the step-by-step instructions.
- Access the Internal Revenue Service’s official website, which can only be found at https://irs.gov/.
- Navigate to the Tools & Applications section of the IRS website.
- You will now see a “Where’s My Refund?” option; select it to go to the next page.
- After selecting the aforementioned option, you will see a “Check your refund” option; choose it to be taken to a different website.
- Upon completion, select your tax year, input your Social Security number, select your filing status, enter the refund amount, and click the Submit button.
- You would have verified the status of your 2023 tax return after following the above step-by-step procedures.
What type of Information do you need to Track Federal Return?
The following details are required in order to monitor the progress of your online refund:
- The Individual Taxpayer Identification Number (ITIN) or Social Security number.
- The precise amount that appears on your tax return as a refund.
- filing status (head of household, single, married filing separately, married filing jointly, etc.).
One of three status outcomes will appear when you provide the necessary data.
- Your tax return is with the IRS, and they are processing it.
- Your tax refund is being prepared now that the IRS has completed processing your return. When your money is prepared, the IRS will either mail them to you directly or, if you choose direct deposit, send them to your bank.
- Your cheque is in the mail, or the IRS has electronically sent the refund to your bank.
When will I receive my Federal tax Refund?
There are a few reasons why your refund might not arrive as quickly as anticipated. Among the most frequent offenders is filing a return with a mistake, including using the wrong Social Security number or giving false information about a direct deposit.
Your refund can also be delayed by the IRS if it needs more examination or was not completed. If, as an early filer, you claimed the additional child tax credit or the earned income tax credit, the IRS is legally not allowed to give tax refunds until mid-February.
The IRS projects that you will get your refund by February 27, 2024 if you choose direct deposit as your refund option and your return is error-free.
If your refund hasn’t arrived yet after six weeks after mailing your return or 21 days after e-filing, neither your online IRS account nor the “Where’s My Refund?” tracker have changed, you can attempt contacting the IRS for further information.
The timeliness of your refund may also be impacted if you submitted a tax return along with a claim for the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). Depending on the date they submitted their taxes, EITC/ACTC filers will get their refunds by the first week of March at the latest (if direct deposit was chosen).