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IRS tax refund schedule: Will your deposit arrive this week? Find out
Those who have filed their tax return online through the IRS website between March 31 and April 6 will most likely receive their refund this week.
Several taxpayers all across the U.S. now want to know the dates and amounts of refunds they will receive from the Internal Revenue Service (IRS) as the tax season progresses. Tax Day was on April 15, when every taxpayer in the country – be it individuals or businesses – had to file their federal tax repayments. Few of the states and regions on the East Coast were given an extension till May 1 to file their tax returns as they’re still dealing with Hurricane Helene’s wrath during September last year.
As per the IRS, most refunds are issued within 10 to 21 days of filing. However, this time may vary depending on factors such as filing methods, the date the return was filed, and the tax credits claimed. Tax Slayer, the tax preparation and software company’s website explains that the IRS works on a proper schedule to send taxpayers their refunds. Returns filed online are processed much faster than those sent via mail.
Choosing direct deposit instead of check in the mail can also significantly speed up the arrival of the tax refunds, while some tax credits – like the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) – may delay the issuance of the refunds by the taxpayers. Several citizens are waiting for their tax returns, as the revenue acts as a significant economic relief for a lot of people.
Refund schedule of the IRS
- Electronic filing and direct deposit: 1 to 3 weeks
- Electronic filing and cheque: 1 month
- Statement by mail and direct deposit: 3 weeks
- Statement by mail and check: 2 months
Who receives their deposit between April 21 and 27?
Those who have filed their tax return online through the IRS website between March 31 and April 6 will be able to receive their refund from April 21 to 27. Those who have paid by check and filed in the second week of March, they will receive the payment on Easter Monday, April 21.
