These days an IRS tax refund takes about 21 days. If you file your taxes electronically and request direct deposit of your refund you’re already doing it the right way if turnaround time is important to you.
The Status of Your IRS Refund
How do you find out that status of your IRS tax refund? There’s only one correct answer to this: from the IRS itself and from nobody else! You don’t need an accountant to figure out where your refund is. You don’t need a tax preparation office to do it, either. You just need an internet connection and a PC, preferably your own. That’s because you have to type in your personal information at the IRS website and you don’t want to risk doing that at the library on a public computer. If you don’t have a computer then sure you have a friend who does, or you can also call the IRS refund hotline.
IRS Refund Hotline: (800) 829-1954
Average Turnaround Time of an IRS Refund
Well the IRS gives 21 days as the expected time to have to wait for a refund. However some people get theirs faster and some much later than that. For the delays, it’s anybody’s guess as to why some tax returns take longer than others. All you can do is look at a list of common reasons why tax returns can take longer then see if any apply to you.
The IRS Tax Refund Tracker
You can also talk to the IRS if it makes you feel better but they will only be able to tell you what you already know from logging into their website and using their IRS refund tracker. This will tell you exactly where your refund may be in the pipeline as it makes its way through the IRS system. Of course it won’t tell you why your return got stuck any given point. You’ll just have to be patient.
But Why is Your Refund So Large?
If you can’t be patient then perhaps you should look into your withholding and see whether maybe too much is being withheld from your paychecks. Are you waiting on more than $2000 in your IRS tax refund? That’s a little excessive and you can fill out a new W4 and submit it to your employer at any time: have less money taken out of each paycheck and you’ll have access to that money all year long: no waiting on your IRS tax refund!