IRS Offers Time Estimates for Tax Refunds

Submitted by rkoreto on Wed, 01/11/2012 - 17:51

In a recent release, the IRS addressed the age-old question, "When am I going to get my refund?" and gave advice on how taxpayers can speed up the process.

In 2012, the IRS says technology improvements will allow it to issue refunds to some taxpayers in as few as 10 days, if they e-file and select direct deposit. It expects to issue more than 90 percent of all refunds—whether filed electronically or on paper—in 21 days or less.
 
Of course, these are for returns that are filed accurately with no corrections or review required, says the IRS, which notes it is "increasing scrutiny of tax returns for signs of fraud." Returns selected for additional screening and review will take longer before a refund is issued.
 
Common causes for delays include incorrect Social Security numbers, addresses, and bank and routing numbers for direct deposit.
 
Eager taxpayers can check the status of their returns using the Where's My Refund page or by downloading the IRS2Go phone app. The IRS says information about refund status is available about three days after the IRS acknowledges receipt of an e-filed return—but it takes four weeks for those mailing a paper return.

 

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