During this tax season, the IRS has processed over 25 million tax returns, resulting in approximately $13 billion in refunds distributed. If you’ve filed your tax return with the IRS, you might find yourself regularly checking your bank account in anticipation of your refund. However, there’s a more straightforward method to ascertain the arrival time of your funds—you can utilize the IRS tool designed to provide updates on the status of your tax refund.
We’ll guide you on how to monitor the progress of your refund and any funds owed to you by the IRS. Additionally, for further tax guidance, we’ll outline the anticipated timeline for receiving your child tax credit payments. If you’re handling your taxes independently, we’ll also highlight some of the top tax software choices for 2024.
Tracking Your 2024 Tax Refund: A Step-by-Step Guide
The most efficient method for tracking your tax refund is through the IRS’ “Where’s My Refund?” tracker page, which also notifies you if your return has been rejected due to errors.
To utilize the IRS’ tracking tools, you’ll be required to provide your Social Security number or Individual Taxpayer Identification Number, your filing status (single, married, or head of household), and your refund amount in whole dollars. Navigate to the “Get Refund Status” page on the IRS website, input your personal information, and then click “Submit.”
If you aren’t directed to a page displaying your refund status, you might be prompted to confirm your personal tax details and attempt again. If all the information appears accurate, you’ll need to input the date you filed your taxes, as well as whether you filed electronically or by mail.
Ensure it has been at least 24 hours before you begin tracking an online return, or up to four weeks if you submitted your return by mail.
How can I trace a refund from a prior year?
The Where’s My Refund tool displays federal refund information for the last two years as per the IRS records. If you seek details from earlier years, you must review your IRS online account.
Within your account, you’ll find details such as your total outstanding balance, payment history, pertinent information regarding your most recent tax filing, any notices received from the IRS, and your current address on record. The IRS offers a mobile application called IRS2Go, which enables you to track your tax refund status. This app is compatible with both iOS and Android devices and is available in both English and Spanish languages.
Within the app, you can view whether your tax return has been received and approved, as well as whether a refund has been issued. To access the app, you will need to provide your Social Security number, filing status, and the anticipated amount of your refund. The IRS updates the app’s information overnight, so if you don’t observe any status changes, be sure to check back the following day.
What do the statuses of my tax return indicate?
The IRS tools will display one of three messages to clarify your tax return status.
- Received: The IRS has received your tax return and is currently processing it.
- Approved: Your return has been processed by the IRS, and if you are due a refund, the amount has been confirmed.
- Sent: Your refund has been dispatched either through direct deposit to your bank or as a paper check sent to your mailing address.
While the Where’s My Refund tool typically exhibits statuses such as Received, Approved, or Sent, there are various other messages that some users might encounter. One of the most prevalent is Tax Topic 152, indicating that you are likely entitled to a refund but it has not yet been approved or dispatched. This notice simply directs users to an informational topic page on the IRS FAQ website, elucidating the types and timing of tax refunds.
The delay might be an automated message for taxpayers claiming the child tax credit or earned income tax credit, triggered due to additional fraud protection measures.
Tax Topic 151 signifies that your tax return is presently undergoing review by the IRS. The agency may need to authenticate certain credits or dependents, or it may have determined that your tax refund will be decreased to settle any owed amounts. You should anticipate receiving a notice from the IRS within about four weeks, detailing the steps needed to resolve the status.
Additionally, there are various other IRS refund codes that a minority of tax filers receive, indicating freezes, mathematical errors on tax returns, or undelivered checks. The College Investor provides a compilation of IRS refund reference codes and errors along with their explanations.
Is it Advisable to Contact the IRS Regarding My Refund?
Reaching a live representative at the IRS can be notoriously challenging. In 2022, only about 13% of taxpayers managed to connect with a human being, according to Erin M. Collins, the national taxpayer advocate.
Subsequently, Congress has increased the agency’s funding, and the IRS has reported hiring thousands of new telephone representatives. However, the agency advises calling only if it has been at least 21 days since you filed your taxes online or if the Where’s My Refund tool prompts you to do so.
The IRS states that wait times during tax season typically average around 4 minutes, but longer wait times may be experienced on Mondays and Tuesdays, as well as during Presidents Day weekend (February 17, 18, and 19) and around the April tax filing deadline.
Alternatively, the IRS directs taxpayers to visit the “Let Us Help You” page on its website or seek in-person assistance at Taxpayer Assistance Centers nationwide. You can contact your local IRS office or call 844-545-5640 to schedule an appointment. If you qualify for assistance, you can also reach out to the Taxpayer Advocate Service at 877-777-4778.
If you receive your tax refund via direct deposit, you might notice IRS TREAS 310 on your transaction record. The 310 code is a standard identifier for transactions related to tax refunds disbursed electronically after filing a tax return. Additionally, you may observe “TAX REF” in the description field alongside the refund.
However, if you encounter a 449 instead of 310, it implies that your refund may have been withheld to offset overdue debts.