Each tax season, one of the top questions on the minds of taxpayers is: “When will I receive my refund?”
Based on past years and current estimations from the IRS, a few factors may be able to help predict when a refund will be processed.
It’s not too early to begin thinking about your upcoming return. With April 15 falling on a Saturday and April 17 recognized as Emancipation Day in Washington D.C, the deadline to file income tax returns (or apply for an extension) is April 18, 2023. The extension deadline will be Oct. 17, 2023.
Generally, taxpayers receive their refund within a few weeks after filing, especially if they file early in the season. However, several factors may make an impact.
For instance, taxpayers with the Earned Income Tax Credit or Child Tax Credit usually have their refunds delayed by about one month while the IRS confirms eligibility for these credits. Those who file in the middle or “peak” of the season can often experience a delay too.
The following are estimates to calculate when to anticipate your refund: