Millions of Americans are still waiting on their tax refunds from the tax return they filed for 2020.
Right now there is a record number of 6.2 million unprocessed returns that need to be completed by the IRS.
So far this year the IRS has issued 11.7 million refunds worth a collective $14.4 billion dollars.
The last time any refunds were issued was in Nov. when 430,000 payments were issued. That number has not changed.
The checks in Nov. were worth an average $1,189.
Delays in individual tax returns range from information on the Recovery Rebate Credit, to the IRS suspecting the return is a case of identity theft.
Unfortunately, not all refunds will be issued and the IRS will end up working into 2022.
This means it’s best to not depend on a tax refund before the end of the year in case yours isn’t processed until 2022.
What do I do if I still have not received my tax refund?
You can track your refund with the IRS using the Where’s My Refund tool. You need your SSN and the amount your refund is supposed to be.
You could also try to call the IRS at 1-800-829-1040, but wait times may be gruelingly long.
Aside from checking on your refund’s status, all you can really do is wait.
If the IRS needs action from you, they will inform you through a letter.
If you receive a letter asking for information, the quicker you respond, the faster you’ll see a resolution.
Even then, the IRS warns that the wait time can be up to four months.
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