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If you’re missing your refund and you filed your taxes on time, you may be getting worried. Read on to see what steps to take.
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This year, the average tax refund issued by the IRS was $2,812. But no matter what refund amount you’re due, you’re probably eager to see that money hit your checking account as soon as possible.
This year’s tax-filing deadline was April 18. If you submitted your tax return on time and your refund still hasn’t arrived, that’s a bit unusual, because the IRS commonly issues refunds for electronically-filed returns within 21 days.
Of course, if you filed your taxes on paper, it may be that it’s taking longer for the IRS to process your refund. But if you filed electronically by April 18, you probably should’ve gotten your money by now. So it pays to investigate if you haven’t.
Reasons your tax refund may be delayed
First of all, let’s get one thing clear. If you’re still missing your tax refund two months after having filed your return, it doesn’t automatically mean that there’s a problem or that your return is getting audited. It could be that there was a math mistake, or another error on your tax return, that the IRS has been trying to reconcile. That could result in a refund delay.
It could also be that you entered the wrong bank account information when you signed up for direct deposit. If that’s the case, what may have happened is that the IRS issued your refund only to have the bank it went to reject it. When that happens, the IRS will generally issue a check in the mail for your refund, which could explain the holdup.
Dig around for more information
It’s a good idea to investigate if it’s been more than three weeks since you filed your tax return electronically, or more than six weeks since you mailed in a paper tax return. And the first place to start is the IRS’s “Where’s My Refund?” tool.
To use this tool, you’ll need three pieces of information:
Your Social Security number or taxpayer ID numberYour tax-filing statusThe exact amount of your refund
From there, you might get more clarity about what’s taking your refund so long. Or, you might get a message advising you to contact the IRS for more information.
From there, you can call the IRS at 800-829-1040 to try to get more details about your refund. If you’re hearing impaired, you can call 800-829-4059.
The IRS says that telephone wait times can average 11 minutes between the months of May and December. But you may end up having to wait longer. However, it’s probably worth it, because speaking to a live person might clue you in as to what’s happening with your money.
Finally, you may be inclined to file a second tax return if your refund is still missing. Don’t. Doing so might only cause confusion and lead to further refund delays.
The IRS says you should only resubmit your tax return if you’re due a refund, you filed a paper return more than six months ago, and the “Where’s My Refund” tool does not show that your tax return was received by the IRS.
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