By Arlenys Tabare
05 Feb 2024, 15:41 PM EST
Since last Monday, January 29, the Internal Revenue Service (IRS) began processing tax returns corresponding to fiscal year 2023, which have a deadline until April 15 of this year.
Before starting the 2024 tax season, The entity warned taxpayers that delaying the submission of their taxes could lead to large finesin addition to preventing you from receiving the corresponding refund.
According to the IRS, Refunds are issued in approximately 21 days after taxes are filed. For those who file electronically and choose direct deposit, compensation can arrive almost immediately.
On the other hand, those who file their return in physical format without direct deposit can wait up to 8 weeks to receive their refund. Therefore, The way you submit will determine how long it takes for the refund to reach your account..
Can I check the refund status?
The Internal Revenue Service (IRS) explained that On the website there is a tab called “Where is my refund?”where the taxpayer can verify the status of their money, to know the details it is necessary to provide some personal information such as Social Security numbers, individual taxpayer identification (ITIN), among others.
Are there ways to avoid tax refund delays?
As mentioned earlier There are some factors that can alter the normal time for a refund to arrive., as is presenting in physical format; However, there are other ways. Typography errors are usually one of them.
In this case, The IRS warns that it is best to be careful when filling out the form, that the names and numbers of the taxpayer are correctly written. Choosing to receive the refund by check instead of direct deposit delays the sending of the refund.
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