The Internal Revenue Season (IRS) started the new tax season on January 29. It will last until April 15 for most taxpayers. Some may have until April 17 if they live in Massachusetts or Maine.
The IRS division is reviewing millions of 2023 tax returns efficiently. In this way, eligible taxpayers can receive their tax refund as soon as possible. Thankfully, there are more free resources to help taxpayers file.
For example, the IRS has released Free File. As a matter of fact, it is the best way to do your taxes for free. What is more, you can track your tax refund and check its status on “Where is my refund?”.
WHEN DOES THE IRS SEND TAX REFUND PAYMENTS?
In general, the IRS sends tax refund payments on the last business day of the week. So, payments may not be sent on holidays on Sundays. Therefore, you may need to check if there are any federal holidays.
Although most tax refunds are sent by the Internal Revenue Service on business days, some refunds may be sent on Saturdays. On other occasions, if your bank receives your direct deposit on Friday, you may cash it on Saturday.
It is unlikely to receive tax refunds on Sundays or holidays. Of course, the way you file your 2023 tax refund may affect the time it lasts. Paper returns may take more than 4 weeks to process.
HOW DO I KNOW THE EXACT DATE OF MY TAX REFUND PAYMENT?
To know the exact date of your tax refund you must check “Where is my refund?”. By visiting https://www.irs.gov/wheres-my-refund you can easily track your refund.
The IRS updates the status of your refund overnight. Checking it at breakfast or lunchtime every day will be enough. For your information, online returns with direct deposit take less than 21 days.
Early filing and accurate returns can help you receive your money quickly. Paper returns, inaccurate returns or amended returns are not advisable when it comes to getting a fast refund. EITC or ACTC refund may arrive by February 27 in many cases if you filed before.