Millions of Americans forced to wait a bit longer for their tax refund from the IRS may see their refunds this week.
Most people submitting refunds electronically can expect to see their tax refund within 21 days of submitting their return.
This is not the case for people who claimed the child tax credit or the earned income tax credit.
While they should see their refund in a reasonable amount of time, it won’t be within 21 days.
IRS tax refunds and certain tax credits
This is more than previous years.
The reason these credits take longer to process is because scammers often try to commit fraud and claim these credits with someone else’s identity.
Anyone that filed as soon as they could on Jan. 24 will likely see their checks around the beginning of this month.
This is specifically for those who opted for direct deposit.
Bigger tax refunds are coming from the IRS in 2022
This year the average tax refund is higher than previous years for most.
Since Feb. 18, 36 million returns have been filed with 22 million being processed with refunds sent.
The average refund has been around $3,356.
Last year the average refund was $2,880.
That’s a 23% increase.
Americans have until April 18 to file their tax returns and not face penalties.