(However, some taxpayers who did not receive one, may be determined to have been owed one, in which case they may be able to have it added to their 2021 refund as a credit.
Several factors can determine when a taxpayer may receive their tax return, including:
So it’s a good idea to e-file your tax return as soon as you have all of your tax documents (like your W2, 1099s, mortgage and student loan interest, and other items). Most Americans who are expecting an income tax refund receive it by direct deposit in as little as 2 weeks, although it can take longer during the peak of the filing season, which starts in late March. Or download the IRS2Go app to check your refund status. If your IRS income tax refund is delayed after you’ve filed, ask your tax professional, or simply use the “ Where’s My Refund?” tool on the IRS website.
The below chart shows an estimated timeline for when a taxpayer is likely to receive their refund, based on the information we have now, and using projections based on previous years- and depending on when a person files their return. (Which actually just means you overpaid your taxes during the year, but I won’t focus on that now.)Īlthough the 2020 tax season was significantly impacted by the Covid-19 pandemic, the IRS says there will not be a delay in this year’s 2021 tax season. But for most regular workers, who have one job, a family, and maybe a mortgage or college debt, income tax season usually means anticipating a tax refund. Now, let’s think good thoughts for 2021, starting with the coming vaccines, and then income tax refunds.įirst: The Covid stimulus payments you received in 2020 (and the second check whether you received it in 2020 or 2021) will NOT decrease your tax refund.įor some, income tax season is a painful thought, particularly if they owe taxes or their finances are complex and require considerable preparation. NOTE: The IRS has announced that the 2021 tax filing season will start on February 12, 2021.Ģ020 is DONE.
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