To reduce the number of telephone calls to the IRS, the Service has improved its online support for tracking refunds for taxpayers. Instructions and a link to the tool may be found at https://www.irs.gov/wheres-my-refund.

To track a refund, one needs a Social Security number, filing status, and the exact refund amount shown on the return. The IRS then will provide a status report, showing whether the tax return was received and is being processed, whether the refund has been approved, and whether a refund check has been sent, with the date of processing. A direct deposit to a bank account of a refund check takes up to five days, while a paper check sent by mail may take several weeks.

The fastest way to get a refund is to file electronically, with the refund deposited directly to a bank account. In that situation, the IRS expects the refund to be in the taxpayer’s hands within three weeks. With electronic filing, refund status information should be available within 24 hours for returns for the 2023 tax year. With paper filing, the status reports may take up to four weeks to be logged.

Returns that have errors or that are incomplete will slow the issuance of a refund. One common error is the need to adjust the Earned Income Tax Credit.

Using “Where’s My Refund?” may instruct the taxpayer that a visit to an IRS office will be required. Otherwise, an IRS office will not be able to provide a status report until 21 days after the filing of an electronic return, or six weeks after the mailing of a tax return.

Do you have a question concerning wealth management? Call us at 920-563-6616 ext. 3070, or email wealth@bankwithpremier.com.