How long once your refund is approved? (2024)

How long once your refund is approved?

Key Takeaways

How long after your refund is approved do you receive it?

The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it's possible your tax return may require additional review and take longer.

How long does it take for tax refund to show in bank account after approved?

Once accepted, your tax return follows the IRS payment schedule, and only they have the status of its processing, whether you owe taxes or expect a refund. For electronic returns with direct deposit, IRS refunds typically arrive in bank accounts within 21 days of approval.

How do I know when my tax refund will be deposited?

Use the IRS Where's My Refund tool or the IRS2Go mobile app to check your refund online. This is the fastest and easiest way to track your refund. The systems are updated once every 24 hours. You can contact the IRS to check on the status of your refund.

What day of the week does IRS deposit refunds?

What days of the week can I receive my refund? The exact day of the week that the IRS will deposit your refund into your account can vary, but they usually send the refund on every business day, from Monday to Friday.

Does refund approved mean accepted?

The IRS will change your tax return's status to “approved” after they confirm that the information you provided is accurate. This typically takes three weeks from the time it is marked as “accepted”.

Why has my refund been accepted but not approved?

"IRS Accepted Return But Not Approved" Meaning

If a taxpayer receives the status update that their tax return was accepted but not approved, this means that the IRS has received their tax return, but they have not yet evaluated the information.

How long does it take for IRS to approve refund 2024?

Filing season reminders

Taxpayers who file electronically and choose direct deposit typically get their refund in less than 21 days. Taxpayers who don't have a bank account can find out how to open a bank account at a FDIC-insured bank or the National Credit Union Locator Tool.

How long does it take the IRS to deposit my tax refund?

While a person can choose direct deposit whether they file their taxes on paper or electronically, a taxpayer who e-files will typically see their refund in less than 21 days. Taxpayers can track their refund using "Where's My Refund?" on IRS.gov or by downloading the IRS2Go mobile app.

When can I expect my tax refund 2024?

What time do IRS direct deposits hit?

The deposits for direct deposit of refunds are done overnight on Thursday nights so they appear in the bank account on Friday, according to the IRS timetable. The deposits are made one time each week, not every day. It depends on the bank, but generally you can see the deposit in your bank account on Friday morning.

Does the IRS approve refunds on weekends?

Usually, the IRS pays refunds a day before the weekend if the payment date falls on a weekend. But there are some cases in which the payment is done on the very day after the weekend passed, assuming it is not a holiday. In those cases, the payments won't appear until the next business day arrives.

Do refunds go through on weekends?

Most refunds typically take 5-7 business days (excluding weekends and holidays) to appear in your account once the merchant has issued the refund. If you have questions about a refund you should have received, you should first check with the merchant.

Can IRS deny refund after accepted?

The IRS rejects tax returns after they are FILED all the time. Returns get rejected for containing errors not math related. If the IRS accepts a return after its filed then finds a mistake in the math, it notifies the filer who is then able to correct the mistake.

Am I good if my tax return is accepted?

Accepted means your tax return was received and has passed initial inspection, such as correct Social Security number and correctly claimed dependents. It can take anywhere from a few days to three weeks for your return to go from acceptance to approval.

Why is my federal refund taking so long after being accepted?

Reasons Your Tax Refund Can Be Delayed

There are several reasons why your tax return may be delayed: Errors such as an incomplete filing status. Missing information. A need for additional review.

What happens after taxes are accepted?

Once you know that your return has been accepted, it's just a matter of waiting. According to the IRS, it takes 21 days or less for the agency to process most tax returns. However, there are instances in which the agency may require more time to deal with an individual return.

What is the child tax credit for 2024?

The child tax credit is a $2,000 benefit available to those with dependent children under 17. For the 2024 filing season, $1,600 of the credit was potentially refundable.

Why is my refund taking so long?

Why is my refund taking so long? A refund will take longer if you file by mail or don't select direct deposit. In addition, if the return is more complex or corrections are needed, it may slow the process down.

Is IRS behind on refunds 2024?

The amount of tax refund money the IRS has sent out continues to pick up, even though the total number of refunds sent so far in 2024 is continuing to lag slightly behind the numbers for the same period in 2023. (Here's how to see the status of your tax refund.)

Why am i not getting a tax refund 2024?

The agency either needs to verify certain credits or dependents, or it has determined that your tax refund will be reduced to pay money that it believes you owe. You'll need to wait about four weeks to receive a notice from the IRS explaining what you need to do to resolve the status.

Why is taxes taking so long 2024?

The IRS says that tax returns can be delayed for the following reasons: It was sent by mail. It contains errors or is incomplete. It needs further review.

Does the IRS count weekends as processing days 2024?

The Internal Revenue Service says it processes about nine out of 10 tax returns within 21 business days. That estimate does not include weekends and holidays.

Do the IRS work on Saturdays?

To offer more time for in-person help, the IRS will open many Taxpayer Assistance Centers (TACs) nationwide one Saturday each month in February, March, April and May to offer in-person help without an appointment. Normally, TACs are open weekdays by appointment.

How long are amended returns taking in 2024?

Will my amended return be processed faster if I file electronically? (updated January 2, 2024) The current processing time is more than 20 weeks for both paper and electronically filed amended returns.