Irs Tax Refunds Delayed: What You Need To Know In 2023
What Is the Delay on Tax Refunds?
The Internal Revenue Service (IRS) typically issues refunds within 21 days of filing a return, but in 2021 they announced that due to changes in the tax code, refunds will be delayed. As of July 2021, the IRS said that any returns filed before May 17, 2021, should expect to receive their refunds no later than July 15, 2021. However, any returns filed after this date may experience a delay of up to three weeks. This is because the IRS is taking extra time to review the returns to ensure that the taxpayers are claiming their proper refund amount.
Why Are Tax Refunds Being Delayed?
The IRS is delaying refunds due to several reasons. Firstly, the COVID-19 pandemic has put a strain on the IRS and their resources. The IRS has to deal with a large influx of returns and requests for refunds, and this is taking longer than expected to process. Additionally, the IRS has also had to coordinate with the Department of the Treasury to ensure that taxpayers are getting their proper refund amount due to the many changes to the tax code in 2021. Finally, the IRS is also taking extra time to review returns to ensure that they are accurate and that taxpayers are not taking advantage of any loopholes.
How Can I Avoid Delays with My Tax Refund?
The best way to avoid delays with your tax refund is to make sure that your return is accurate and complete. This means that you should double-check all of the information that you provide on your return and make sure that all of your deductions and credits are calculated correctly. Additionally, you should also make sure that you are filing your return as early as possible, as the IRS is likely to be backlogged with later filings. Finally, if you are expecting a large refund, you may want to consider filing a paper return, as this will likely take longer than an electronic filing.
What Can I Do If My Refund Is Delayed?
If you are expecting a refund and it has been delayed, there are a few things that you can do. Firstly, you can check the status of your return on the IRS website or by calling their customer service line. Additionally, you can also contact your tax preparer or accountant to make sure that they have submitted all of the necessary paperwork. Finally, if your refund is still delayed after more than three weeks, you may want to consider filing a Form 4852, which is a substitute for a tax return.
What Are Some Tax Refund Scams to Look Out For?
With the increased number of people filing their tax returns and requesting refunds, there are certain scams that you should be aware of. Firstly, be wary of any emails, text messages, or phone calls claiming to be from the IRS. The IRS will never contact you in this manner and it is likely a scam. Additionally, you should also be wary of anyone who offers to get your refund faster for a fee. This is a scam and there is no way to speed up the refund process. Finally, you should also be wary of any tax preparers who offer to guarantee a certain refund amount, as this is likely a scam.
In Conclusion
The IRS is currently experiencing delays in processing tax refunds due to the changes in the tax code and the increased demand caused by the COVID-19 pandemic. To avoid delays with your refund, make sure that your return is accurate and complete, and file as early as possible. If your refund is delayed, you can check the status of your return on the IRS website or by calling their customer service line. Additionally, be sure to watch out for tax refund scams, as there are many out there.