Around 75% of Americans receive a tax refund from the IRS each year, and many are preparing their tax returns now.
2021 tax season saw a major delay in processing returns and sending out refunds. Families are slightly worried about that.
While this year may prove to be equally difficult, the IRS is both cautious and optimistic.
IRS warns there’s potential for delays this year
There is still a backlog from 2021 in 2022 when it comes to processing returns.
As long as Americans file correct information, they should see their refund within 21 days of their return being accepted.
Anyone claiming the child tax or earned income credit will face a delay regardless because there are regulations in place to prevent fraud.
If you claimed either of those two credits and filed your return on the earliest day possible you may not see a refund until March.
The first day you could file was Jan. 24.
If you file any incorrect information like income your return is then reviewed.
This delay can take weeks or months.
How to ensure the IRS sends your refund as quickly as possible
There are a few things you can do to be sure you get a refund in a reasonable amount of time.
First, electronically file your return.
If you choose paper it could get lost in the mail or face delays arriving to the IRS.
Next, choose direct deposit as your mode of payment for a refund.
Checks also face the risk of being lost in the mail.
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