As Americans begin to file their taxes this year, millions expect to get a refund either via direct deposit or check. Last year, over 128 million Americans received an average refund of $2,775 from their 2020 tax returns, according to the IRS.
However, the IRS has recommended Americans take several steps to fast-track their tax-filing process to ensure they get their refund as quickly as possible.
Here’s what you need to know about how long you should expect to wait for your check from Uncle Sam, how to get your tax refund quicker and what you may consider doing with the money.
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When you will receive your 2021 tax refund, and how to file electronically
The IRS states in its FAQ section that most refunds are issued within 21 calendar days. However, there’s a disclaimer stating that due to processing issues caused by the pandemic, it may take longer to deliver your refund.
Additionally, how you file your taxes can affect how long it takes to track the status of your refund. If you file electronically like the vast majority of Americans do you can start tracking your tax refund status within 24 hours of filing on the Where’s My Refund site. However, if you file by mail, your processing time extends to at least four weeks to see your payment status on the site.
So if you haven’t filed your taxes yet, you may want to consider filing electronically with a tax service like TurboTax or H&R Block to avoid issues like waiting for months to receive your refund or even losing your tax files altogether. Select ranked TurboTax as the best overall tax-filing software and Credit Karma Tax as the best free tax software. These services can help you maximize deductions and increase your refund.
