IRS News Release: Tax Refunds Affected by Many Factors (IRC §6402)

With tax filing season approaching, the IRS said many factors will affect the timing and the amount of refunds, and cautioned taxpayers not to rely on receiving theirs by a certain date, especially when making major purchases or paying bills. While the IRS issues most refunds in less than 21 days, some tax returns take longer to process than others, particularly when they have errors, are incomplete, or are affected by identity theft or fraud. For taxpayers claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC), the IRS cannot issue refunds before mid-February. Certain transactions, particularly ...