The Internal Revenue Service says it will accept and process federal tax returns starting Monday, Jan. 27. If you did not select the electronic deposit option, getting a paper check mailed to you adds about a week. Wanted to give folks a heads up in case the refund tool info is not accurate, check with your direct deposit account. This is a controlled testing of the federal tax return system. There may also be some complications for those who did not initially qualify for the the 2020 economic stimulus payment, but may qualify for the payment based on a change of income in 2020. The following tax refund table is based on previous refund tables released by the IRS to help taxpayers know when they should receive their tax refund. They do not update the status more than once a day, so checking throughout the day will not give you a different result. “Planning for the nation’s filing season process is a massive undertaking, and IRS teams have been working non-stop to prepare for this as well as delivering Economic Impact Payments in record time,” said IRS Commissioner Chuck Rettig. You should be able to check IRS tax refund status roughly 24 hours after your receive confirmation from the IRS that they have received your tax refund via E-File. They will then hold the returns until the IRS begins accepting them. Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. The IRS is required by federal law to withhold tax refunds for taxpayers who claim Earned Income Tax Credits and Additional Child Tax Credit until at least Feb. 15, 2020. How Should You Request to Receive Your Refund? The 2021 tax season is coming closer and if you’re wondering when you can submit your 2020 tax return to the Internal Revenue Service, there isn’t much left to wait. When will I get my IRS tax refund? Amended tax returns are processed manually and often take 8-12 weeks to process. Note: Some military members may be eligible for additional tax deadline extensions if they were deployed or served overseas during the tax year. Ryan Guina is the founder and editor of The Military Wallet. The pandemic in 2020 caused the IRS to extend the 2019 tax filing deadline from April 15, 2020 to July 15, 2020. People can begin filing their taxes immediately with tax software companies, including IRS Free File partners. No federal and no stimulus till this day (June 15th) . The IRS e-file Open Date was scheduled for January 21, 2020. They now issue refunds every business day, Monday through Friday (except holidays). The tax filing deadline for the 2020 tax year is April 15, 2021. ET The New York Times Millions of people received stimulus payments and unemployment assistance last year — … April 15 is the tax deadline for most years unless it falls on a weekend or an observed holiday. However, it has … Exact refund dates are based on IRS processing times and can be found in IRS Publication 2043 and IRS Topic 152 for both e-filed and mailed returns. I filed in Feb and have still not received my refund. If you go through the tax filing process and come out owing the government money, there are options for getting tax relief. You can try to extrapolate the refund date based on the below chart. We do not anticipate any changes to the 2020 tax filing deadline. This makes everything only more complicated for the IRS. 2021 Update: The IRS will begin accepting 2020 tax returns starting from February 12, 2021. This is a popular choice among some small business owners who are required to pay estimated taxes. The IRS announced today that they will begin processing tax returns on Friday, February 12, 2021. Some taxpayers who submit their electronic tax return early may be able to participate in the IRS HUB Testing program. Most people receive their refund in an average of 10-14 days. This means if it took the IRS 21 days to issue your check and your bank five days to post it, you could be waiting a total of 26 days to get your money. The first official day to file your 2020 tax return is February 12, 2021. We will update this source when the IRS makes the official announcement. If you file your tax return electronically, the IRS will generaly process direct deposit refunds within 7-10 days of receiving your tax return, and process paper checks within about two weeks. Due to changes in the IRS auditing system, they no longer release a full schedule as they did in previous years. Home Depot and Lowe’s 10% Military Discounts, IRS Refund Schedule for Direct Deposits and Check Refunds, Important Tax Filing Dates & Refund Dates. Almost 90% of tax refunds are processed and issued within 21 days. However, we can give you a rough idea of when you will receive your tax refund – but only if you file your federal taxes electronically using a software program or with the IRS E-File. We may receive compensation through affiliate or advertising relationships from products mentioned on this site. All Rights Reserved. Hey Joan, Just wanted to say that the IRS “where’s my refund” tool may not be accurate. The IRS will start accepting tax returns starting Feb 12, 2021. If you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), you can expect to get your refund by the first week of March if: You file your return online You choose to get your refund by direct deposit We found no issues with your return … Last month, the IRS released the very-probably-unless-Congress-does … We anticipate it will be on January 25, 2021, based on estimates and previous years. Ryan uses Personal Capital to track and manage his finances. If you haven’t heard from the IRS about your federal income tax refund or your stimulus payment, you can track the status of both. Even though taxes for most taxpayers are due by April 15, 2021, you can e-file (electronically file) your taxes earlier. Once your return is accepted by the IRS, the IRS processes your refund based on the IRS E-file Refund Cycle Chart. This is unbelievable and you can’t get in touch with anyone to see why things are happening the way that they are, I filed 1/17/2020 Of the three refund options available to you, direct deposit is the fastest and safest option. This IRS refund schedule should only be used as a rough guideline. Keep this in mind when planning to use your tax refund. If you didn’t file your taxes electronically, then this chart may not be useful for you for two reasons: you won’t have a confirmation date regarding when your tax return was accepted, and paper tax returns are manually entered by IRS employees, so the process takes longer. Featured In: Ryan's writing has been featured in the following publications: Forbes, Military.com, US News & World Report, Yahoo Finance, Reserve & National Guard Magazine (print and online editions), Military Influencer Magazine, Cash Money Life, The Military Guide, USAA, Go Banking Rates, and many other publications. 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