MILLION Americans have received an average tax refund of $2,200, and many taxpayers can expect to receive their 2021 tax refund less than three weeks after filing.
New data from IRS found that 4.3 million Americans received tax refunds on returns filed in 2022.
Another 131,000 received direct deposit for unfiled returns before the current tax season.
These numbers are good news for warned taxpayers challenges and processing delays this season, even though tax filings opened 17 days earlier than in 2021.
The IRS says that taxpayers direct deposit request can expect to see their refund in three weeks or less.
If you make a paper declaration, you can expect wait six to eight weeks for a refund, according to the IRS.
The agency also noted that submit during the peak of tax season often leads to longer wait times.
IRS Commissioner Chuck Rettig said avoiding paper returns is more important than ever this year.
He encouraged taxpayers to file their taxes electronically and choose to receive their refunds by direct deposit.
IRS provides Free basic tax return through volunteer income tax assistance (VITA) and tax counseling for the elderly (TCE) programs.
Arrive track your income tax refundAsk your tax professional or use the Where’s My Refund tool on the IRS website.
You can also use the IRS2Go app to check the status of your refund.
Taxpayers are encouraged to submit their tax returns electronically as soon as they receive them all tax documentssuch as W2, 1099s, and mortgage and student loan interest statements.
If you’re taking advantage of the Earned Income Tax Credit or the additional child tax credit, your refund could be released soon: by law, the IRS cannot issue that refund before the 15th. February.
The IRS has said that Americans who claim the Earned Income Tax Credit can expect a refund the first week of steps are.
This is also important for taxpayers who have received stimulus payments from Covid-19 or advance child tax credit paid last year to make sure they report the correct amount on their tax return to avoid processing delays.
And although tax season begins on January 24 of this year, it ends a little later than usual.
Individual tax returns are usually due on April 15, but this year, that’s also the date of Liberation Day in Washington DC will be observed.
Liberation Dayis a public holiday in DC, falling on a weekend this year, so it will be observed on the day of the week closest to the actual date, April 16.
Government offices will be closed, so the due date for filing individual tax returns and paying taxes for 2022 is Monday, April 18.
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https://www.the-sun.com/money/4712835/tax-refund-payment-exact-date-direct-deposit-2022/ The exact date you’re due for an average $2,200 tax refund depends on your filing status