Once you’ve gone through the burdensome process of filing your taxes, your sigh of relief might be short-lived. That’s because you’ll likely be wondering, “How long does it take to get a tax refund?” But as excited as you may be to get that refund check from your federal income tax return, you may be disappointed with IRS processing times. So as you plan your budget for the year, you should know how long it will take to get your federal tax refund.If you want to go beyond taxes and build a comprehensive financial plan for your future, afinancial advisorcan help you put a financial plan together.
How Long Will My Tax Refund Take?
When you get your tax refund will depend largely on how you file your return. The fastest option is to e-file your return and to receive your refund via direct deposit. The majority of taxpayers who choose this option will receive their refunds within 21 days. That means your bank will have your refund within three weeks from the day the IRS accepts your tax return. Then it may take up to a few additional days for your bank to make the funds available to you.
If you file a paper return or if you want to receive your refund as a paper check, your return will take longer to process. Filing a paper return and receiving your refund as a paper check will take the longest to process at two months or more. So if you’re inclined to sit around asking, “How long does it take to get a tax refund?” you might want to consider e-filing, or at least direct deposit.
The table below will give you an idea of how long it typically takes to get a tax refund:
Federal Tax Refund Schedule
| Filing Method | E-File, Direct Deposit | Paper File, Direct Deposit | E-File, Check in Mail | Paper File, Check in Mail |
| Time from the day you file until you receive your refund* | 1-3 weeks | 3 weeks | 1 month | 2 months |
*Note that these are just guidelines. Based on how you file, most filers can generally expect to receive a refund within these time frames.
The IRS typically starts accepting returns in the last week of January. In 2023, the 2022 tax filing season began on January 23. For reference, here’sa detailed breakdown of when in 2024 taxpayers could get their 2023 refund based on estimates from previous tax years:
Estimated 2024 IRS Refund Schedule
| Taxes Accepted | Direct Deposit | Paper Check |
|---|---|---|
| Week of January 22 | February 9 | February 16 |
| Week of January 29 | February 16 | February 23 |
| Week of February 5 | February 23 | March 1 |
| Week of February 12 | March 1 | March 8 |
| Week of February 19 | March 8 | March 15 |
| Week of February 26 | March 15 | March 22 |
| Week of March 4 | March 22 | March 29 |
| Week of March 11 | March 29 | April 5 |
| Week of March 18 | April 5 | April 12 |
| Week of March 25 | April 12 | April 19 |
| Week of April 1 | April 19 | April 26 |
| Week of April 8 | April 26 | May 3 |
| Week of April 15 | May 3 | May 10 |
Tax Returns That Include the EITC or ACTC
If you claimed either the Earned Income Tax Credit (EITC)or the Additional Child Tax Credit (ACTC), you may have to wait a bit longer for your refund. Law requires the IRS to hold refunds from these returns until mid-February. You shouldn’t expect the refund to hit your bank account untillate February, according to the IRS. If you don’t elect for direct deposit or if there are problems with your return, you can expect the refund to take longer.
How to Check Your Tax Refund Status
Are you the sort of person who constantly wonders, “How long does it take to get a tax refund?” If you want to check the status of your federal tax refund, you can use the Where’s My Refund? on the IRS website. You can also access that tool on the IRS2Go mobile app. Your return’s status will usually be available within 24 hours if you file electronically. If you mailed a paper return, it will take at least four weeks before you can check the status of your return.
You’ll need three pieces of information to check your return’s status:
- Your Social Security number (SSN)
- Your filing status
- The exact dollar amount of your expected refund
If you filed a return with the EITC or ACTC, the IRS says you can expect your refund status to update by late February.
Bottom Line
How long it takes to get your tax refund will depend on how and when you file your tax return. The best way to get your refund quickly is to e-file your return and elect to receive the refund by direct deposit. For the 2023 tax year, the vast majority of e-filers (who also use direct deposit for refunds) can expect to receive their refund within 21 days, as has been the case in previous years.
Sending a paper return or receiving your refund as a paper check will potentially slow down processing by months. The IRS also processes returns more slowly at the beginning and end of the tax season. That’s because the majority of taxpayers file during those times.
Tips for Getting Through Tax Season
- Taxes are just one aspect of your overall financial life. A financial advisor can help you plan yourretirement, estate and optimize your tax strategy for all of your financial goals. SmartAsset’s free toolmatches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- If you still need to file your taxes, make sure to consider all of your filing options. Two of the largest tax-filing services are H&R Block and TurboTax. Both are easy to use and offer step-by-step guidance to help you maximize your return. Check out SmartAsset’s to see which one is better for you.
- State governments use their own systems for handling tax returns. In some states, you’ll get your refund within a couple of days, while other states will take weeks or months to process. Learn how to check your state tax refund status.
- If you find yourself relying on your tax refund to make ends meet, you may be able to make some changes to your tax withholding. Claiming more or fewer allowances on your W-4 will impact how much tax your employer removes from checks. Withholding less in taxes will mean more take home pay. If you receive a big refund come tax time, there may be room for you to increase your allowances.
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Tax Refund Processing Time
The article explains that the time it takes to receive a tax refund depends on how you file your return. If you choose to e-file your return and receive your refund via direct deposit, the majority of taxpayers can expect to receive their refunds within 21 days However, if you file a paper return or opt to receive your refund as a paper check, the processing time will be longer. Filing a paper return and receiving a paper check can take two months or more to process.
IRS Refund Schedule
The article provides a table that gives an idea of how long it typically takes to get a tax refund based on the filing method
- E-File, Direct Deposit: 1-3 weeks
- Paper File, Direct Deposit: 3 weeks
- E-File, Check in Mail: 1 month
- Paper File, Check in Mail: 2 months
Please note that these time frames are guidelines, and the actual processing time may vary based on individual circ*mstances.
Tax Returns with EITC or ACTC
If you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), the IRS is required by law to hold refunds from these returns until mid-February Therefore, if you claimed either of these credits, you can expect your refund to be delayed until late February.
Checking Your Tax Refund Status
To check the status of your federal tax refund, you can use the "Where's My Refund?" tool on the IRS website or the IRS2Go mobile app You will need three pieces of information to check your return's status: your Social Security number (SSN), your filing status, and the exact dollar amount of your expected refund If you filed electronically, your return's status will usually be available within 24 hours. If you filed a paper return, it may take at least four weeks before you can check the status of your return.
In summary, the time it takes to get a tax refund depends on how you file your return, with e-filing and direct deposit being the fastest option. The IRS typically starts accepting returns in the last week of January, and the refund schedule can vary based on individual circ*mstances and the presence of certain tax credits. You can check the status of your refund using the "Where's My Refund?" tool provided by the IRS.
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