How quickly will I receive my 2023 tax refund?

• Find out how quickly you’ll get your tax refund this year?
• What do you need to do?
• Deadlines for filing your 2022 tax return.

Find out how quickly you’ll receive your tax refund this year! People who filed their 2022 tax returns could expect their refund very soon. You can choose to receive your full refund in one of two ways: by mail in the form of a check, or by direct deposit to your savings, checking or IRA account.

We’ve got all the information you need to know about your tax refund this year, including important dates, types of refunds and situations that may delay the delivery of your money.

What is a tax refund?

Filing a tax return is the way a person or company reports income, expenses and other types of tax information to the Internal Revenue Service (IRS). Tax returns are filed annually and both individuals and companies must report all income received during the tax year.

A tax refund refers to money the government must pay back to you for overpayment of federal or state taxes. This sum is seen by some experts as an interest-free loan that taxpayers make to the government, although many taxpayers view it as an annual bonus.

When is the deadline to file taxes?

The IRS has determined that the deadline to file your 2022 tax return is April 18, 2023. This date applies to most taxpayers, but there are special cases. For example, in Washington, DC, the deadline may vary.

It is also possible to request an extension that for the fiscal year of 2022 will be on Monday, October 16, 2023. In all cases, it is essential to carefully review the forms that will be delivered to the IRS, since any incomplete or wrong information will cause a delay in the process and a possible financial penalty.

Tax refund date

The IRS anticipates that most taxpayers will see their tax refund within a period of no more than 21 days after submitting their return as long as they have chosen the direct deposit option and there aren’t any issues.

To check the status of your refund, the IRS invites taxpayers to visit the Where’s My Refund? section of their website, which will provide refund status starting on February 18. It is also possible that EITC and ACTC filers will see the deposit reflected after February 2023.

What could delay your refund?

There are different circumstances that could lead to a delay in your tax refund. In general, it takes under 21 days but there are situations that can make it take longer. For example, if the tax return must to be filed physically or through an ITIN number.

Authorities state that the 21-day timeframe might be even shorter for some people. Therefore, it is important to keep check the status of your payment through the IRS website.