Once you’ve filed your tax return, you can monitor its status to determine the anticipated arrival time of your refund. The 2024 tax season has commenced, with the IRS commencing acceptance and processing of tax returns since January 29th. If you’ve filed early and anticipate a refund, you might be poised to receive funds from the IRS within this month.
Completing your tax return can be challenging, but the payoff is worthwhile if you’re anticipating a refund this year. Thankfully, determining when your IRS refund will arrive is a straightforward process. We’ll guide you on monitoring the status of your refund and any outstanding amounts owed by the IRS. Additionally, for further tax insights, we’ll outline when you can anticipate receiving your child tax credit funds. If you’re handling your taxes independently, we’ll also recommend some of the top tax software options for 2024.
How can I track my tax refund for the year 2024?
The most efficient method to monitor your tax refund is by utilizing the IRS’ “Where’s My Refund?” page, which also alerts you if your return has been rejected due to errors. To utilize the IRS’ tracking tools, you’ll need 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.
Visit the “Get Refund Status” page on the IRS website, input your personal information, and then click Submit.
If you’re not 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 be required to input the date you filed your taxes, as well as whether you filed electronically or on paper.
Ensure it has been at least 24 hours before you begin tracking an online return, or up to four weeks if you mailed your return.
How can I monitor a refund from a prior year?
The “Where’s My Refund” tool displays federal refund information that the IRS has from the last two years. If you’re seeking return details from earlier years, you’ll need to access your IRS online account. Through your account, you’ll have visibility into the total amount you owe, your payment history, crucial details about your most recent tax return, any notices you’ve received from the IRS, and the address on file.
Track Your Refund Anywhere: Utilize the IRS2Go Mobile App
The IRS offers a mobile application named IRS2Go, designed to track your tax refund status. It’s accessible on both iOS and Android platforms and is available in both English and Spanish languages. Through the app, you can check if your return has been received and approved, as well as whether a refund has been issued.
To access the app, you’ll need to provide your Social Security number, filing status, and the anticipated refund amount. The IRS updates the app nightly, so if you don’t observe a status change, revisit the app the next day.
What do the different statuses of my tax return indicate?
The IRS tools will display one of three messages clarifying your tax return status:
- Received: The IRS has received your tax return and is in the process of processing it.
- Approved: The IRS has completed processing your return and has verified the amount of your refund if you are owed one.
- Sent: Your refund is now en route to your bank through direct deposit or will be sent as a paper check to your mailbox.
Why does ‘Where’s My Refund’ display ‘Tax Topic 152’ or an IRS error message?
While the Where’s My Refund tool typically exhibits statuses like Received, Approved, or Sent, there are various other messages that some users may encounter.
One of the most common messages is Tax Topic 152, indicating that you’re likely due a refund, but it hasn’t been approved or sent yet. The notice simply directs to an informational topic page on the IRS FAQ website, elucidating the types and timing of tax refunds.
This delay could be an automated message for taxpayers claiming the child tax credit or earned income tax credit due to additional fraud protection steps.
Tax Topic 151 signifies that your tax return is now under review by the IRS. The agency may need to validate certain credits or dependents, or it may have determined that your tax refund will be reduced to cover money it believes you owe. You’ll need to await approximately four weeks to receive a notice from the IRS explaining the necessary steps to resolve the status.
Other IRS refund codes exist that a small percentage of tax filers receive, indicating freezes, math errors on tax returns, or undelivered checks. The College Investor provides a list of IRS refund reference codes and errors along with their meanings.
Should I contact the IRS regarding my refund?
Reaching live phone assistance at the IRS can be notoriously challenging. In 2022, only approximately 13% of taxpayers managed to speak with a human being, according to Erin M. Collins, the national taxpayer advocate. However, Congress has since increased the agency’s funding, and the IRS has reported hiring thousands of new telephone representatives. Nonetheless, the agency advises individuals to call only if it has been at least 21 days since filing taxes online or if the Where’s My Refund tool directs you to do so.
The IRS mentioned that wait times during tax season typically average around 4 minutes, but longer wait times may occur on Mondays, Tuesdays, during Presidents Day weekend (Feb. 17, 18, and 19), and around the April tax filing deadline.
You can reach the IRS at 800-829-1040 or 800-829-8374 during regular business hours.
Alternatively, the IRS is encouraging 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’re eligible for assistance, you can also contact the Taxpayer Advocate Service at 877-777-4778.
What does ‘IRS TREAS 310’ signify on my bank statement?
If you receive your tax refund via direct deposit, you might notice ‘IRS TREAS 310’ listed in the transaction. The 310 code indicates that the transaction is a refund resulting from a filed tax return, delivered as an electronic payment. Additionally, you may observe ‘TAX REF’ in the description field accompanying the refund.
However, if you come across ‘449’ instead of ‘310’, it suggests that your refund might have been withheld to cover delinquent debt.
Why was my refund sent by mail instead of via direct deposit?
There are several reasons why your refund may have been mailed instead of electronically deposited into your account. Here are some key points to consider:
Ensure that you provided the correct account and routing number for direct deposit. Direct deposit can only be made into an account under your name or your spouse’s name (or both for a joint account). The IRS is limited to depositing refunds electronically into up to three different accounts. If you’re anticipating a refund check in the mail, here’s how you can track its journey from the IRS office to your mailbox.