![]() If the IRS flags a tax return as having a high risk of identity theft, your refund will be held until your identity is verified. According to the Form 8379 instructions, taxpayers filing the form should allow up to 14 weeks for processing, or 11 weeks if filing electronically. While not as common as some of the other causes, the delay in receiving tax refunds is significant. If only one half of a couple owes money, the other half can be considered "injured" and request at least a portion of the anticipated tax refund. When a married couple filing jointly owes a federal debt, the IRS may seize their tax refund to pay off the debt. You filed Form 8379, Injured Spouse Allocation While this money is not taxable, it must be reconciled on your tax return if you want to claim the recovery rebate credit. Most Americans will receive a third stimulus check payment related to the COVID-19 pandemic in 2021. You didn't properly enter your stimulus payments The IRS should send a CP49 notice to taxpayers whose refunds are used to cover existing payment obligations. If your refund is greater than what you owe, the remaining balance will be sent to you via direct deposit or check in the mail, but it may be delayed. If you owe the IRS money, the agency may take some or all of your tax refund to pay it off. Simply take a second look before submitting your taxes to the IRS to correct any potential errors and ensure you've filled out every field. ![]() For example, don't mix up the numbers of state and federal taxes withheld. When you file your tax return, double-check any information you've included to ensure its correct. Why is my tax refund late?Īccording to the IRS, some refunds from 2020 tax returns may need to be reviewed further, particularly those that used incorrect Recovery Rebate Credit amounts or 2019 income to calculate the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC). Online payment services such as Venmo and Cash App avoid processing delays and deliver your funds two days sooner. You should also be aware that it may take several days for the bank to process the deposit before it reaches your account. ![]() "The IRS warns taxpayers not to rely on receiving a refund by a specific date, especially when making large purchases or paying bills," announced the agency.
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