![]() This option is available whether you file online or with a paper tax return. Requested a Direct DepositĪccording to the IRS, 8 out of 10 taxpayers use direct deposit to receive their tax refunds in speedier fashion. Once you file your return, it’s in the hands of the IRS-and on the agency’s timeline.īut if you took these steps with your return, you should get your refund as quickly as possible. If you’re still due for a tax refund this year, here’s more on when to expect your money. This year’s average tax refund was $2,878 as of April 7, down from $3,175 a year ago. Regardless of how you filed, the IRS warned that “many taxpayers may find their refunds somewhat lower this year.” That’s because some pandemic-related tax credits have expired, such as the popular child tax credit expansion and the credit if you missed out on a stimulus payment. The IRS has said paper tax returns can take six months or longer to process. If you filed a paper tax return, a delayed refund was a given. Refunds are being paid out a little more slowly than last year: By April 7, the IRS had issued 69 million refunds, down 1 million compared to the same point during the 2022 tax season. The tax agency said at the start of tax season that taxpayers who filed early and electronically would typically receive tax refunds within 21 days. If you filed your taxes under the wire and are owed some money back from the IRS, how long until you get it? This year’s April 18 tax deadline is history. Your new submission deadline is October 16, 2023. If you submitted Form 4868 for a 2022 tax filing extension before April 18,
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