How Long Can The IRS Hold Your Refund For Review

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Reason Why Is Your Refund Will Be Delayed

How Long Can The IRS Hold Your Refund For Review | Reason Why Is Your Refund Will Be Delayed

While most IRS refunds arrive in three weeks, others may take a bit longer. This article will discuss how long the IRS can hold your refund for review. 

How To Check The Status Of Your Refund?

You can always use the IRS’ where my refund is? Tool to check the status of your own refund within 24 hours of the e-filing. However, if you have filed a paper return, you may not be able to check on the status until four weeks after filing or much later. 

Input your own social security number, you’re filling the status, and extract the dollar amount of the refund from your tax return. The tool will always let you know if your return has been received, if the refund has been approved or if the refund has been sent. The IRS updates the information daily.

How To Use The Where’s My Refund Tool On the IRS Site 

To check the status of your 2022 income tax refund while using the IRS tracker tools, you will need to provide some of your personal information: Your social security number or the individual taxpayer identification Number: your filing status, and your refund amount, which is in the whole dollar, which can be found on your tax return. Make sure that it has been at least 24 hours before you will start tracking your refund. 

Using the IRS tool where’s my refund, go to some of the get that refund status page, enter your personal data, and press the Submit. If you just entered your information correctly, you will be directly taken to the page that will show your refund status.

If it’s not, you may be asked to verify your personal tax data and try again. If all of the information does look correct, you will be able to enter the date that you filed your taxes, along with whether you just filled it electronically or on the paper. 

My refund has the information on most of the recent tax refunds that the IRS has on file within the past two years. If you are out there looking for the return information from so many previous years, you will need to go check your IRS online account for much more information. 

Through your own personalized account, you will see the total amount you owe, your only payment history, essential information about your most recent tax return, notice that you have received from the IRS, and your address on file.

Reasons your refund might be delayed

Your refund may have been delayed, which is for several reasons. In some cases, you will just get the money later than expected. In many others, the IRS may send you a letter asking you for additional information before it will finish processing your return and send your refund. Remember that the IRS will never ever call you if it has some issues with your return – that is most usually a scam – but will be sent you a letter instead.

If you do will receive a letter which is from the IRS which is about your return, take some of the actions right away once you have confirmed that it’s so legit; you should definitely respond in a good which is requested in such a good manner says by the Kathy Pickering, H&R will clock the chief tax officer. 

If it does not respond, the IRS is most likely not to release one of your refunds or complete the processing of your tax return as expected. Below are some of the main reasons why your refund has been delayed. 

1. Errors On Your Return 

Your refund may be delayed if you have made some math’s errors or forgotten to sign your return or include your social security numbers. It may also be delayed if your dependent’s information does not match the IRS records or if you have left out such a corresponding schedule or the form to support a deduction or the credit, says Pickering. 

For such minor math’s errors, the IRS may correct the error and send you to take notice of the change. However, you may need to respond to an IRS request for more information on some more significant issues. 

Also, you have to be sure to answer yes or no to the question on the page on the form 1040 regarding some virtual currency, says Barbara Waltman, another of J.K Lasser’s 1001 deduction & tax raker 2022. 

2. Reported Income Does not Match IRS Records

The IRS will also get copies when you receive W-2s or the 1099s reporting the income. If the number you report and the information the IRS receives do not match up, your refund may be delayed while the IRS will quickly figure out how to easily reconcile the discrepancy. 

If your data on your tax return does not match the data in the IRS system, it goes to some error resolution path, says by the Mak Steber, chief tax information office for the Jackson Hewitt Tax Service. So you have to make sure that you do not leave out any of the income when you file your return, especially if you have some of the several side gigs. 

Two of the familiar sources of the eros this year: Stimulus payments and the child tax credits. Make sure to report any stimulus payments received by 2021, which you can find in the IRS Letter 6475, your third economic impact payment. 

This year the checks were quickly received early in 2021 or automatically deposited, so they may have forgotten about them at the tax time, says Susan Carlisle, a CPA in Los Angeles. 

Also, many of the parents received some monthly child tax credit checks for the first time in 2021. 

Wrap Up 

We tried to explain how long the IRS can hold your refund for the review. How you can quickly check the status of your refund. We suggested some of the reasons why your refund may be delayed. We recommend you do some research to get the best results.