IRS Tax Refund Calendar 2024 – It’s almost January, which means the 2024 tax filing season is rapidly approaching. Even though last-minute tax law changes can have an impact, the IRS typically begins accepting e-filed income tax returns in the last week of January each year. The deadline for filing taxes in 2024 is April 15 (this may vary depending on weekends or state holidays).
If you’re wondering how long it will take to receive your refund once you’ve filed, you’re not alone. For more than a decade, the most frequently asked question has been, “When will I get my tax refund?” We can never give you a precise answer, but we can offer you a decent approximation based on a few factors. In this article, we are going to know about the IRS Tax Refund Calendar 2024, Expected Schedule with Date in detail.
Who can file an IRS Tax Refund 2024?
If you’ve had significant income changes this year, such as having a child, getting married or divorced, retiring, buying a house, changing investments, or making any other significant life changes, you should seek the advice of a tax professional such as a CPA or EA to ensure you’re complying with tax laws while also taking advantage of new changes that may benefit you.
One piece of good news is that the IRS has been implementing new technologies that it claims will help it process tax returns faster than in previous years when it was still battling to solve challenges connected to the epidemic and return backlogs.
How long will it take to receive the IRS tax refund 2024?
The quickest option to acquire a refund is by e-filing, which takes a maximum of 21 days to process. If the refund is filed on paper, it is likely to take a few days to process.
The refund filing window for tax year 2023 is scheduled to open on January 22, 2024. After filing the return, it must go through three stages: “accepted,” “approved,” and “sent.”
The person who files the return for tax year 2023 on January 22, 2024, will have his refund accepted on the same day and will be approved in 6 days.
If the refund filer has opted for direct deposit to get the same, then in this case, he or she will get the refund by February 03, 2024, and in the case of choosing the option of paper check, it takes 7 more days to get the refund.
According to the IRS, most e-filed tax refunds are directly deposited into taxpayer bank accounts within 10 days of the IRS receiving a return.
However, taxpayers who qualify for the Earned Income Tax Credit, Child Tax Credit, and a few other benefits typically have their refunds delayed by roughly one month while the IRS validates their eligibility.
If your IRS income tax refund is delayed after you’ve filed, contact your tax professional or use the IRS website’s “Where’s My Refund?” function to verify the status of your return. You can also check your refund status by downloading the IRS2Go app. E-filing your tax return as soon as you have all of your tax paperwork (such as your W2, 1099s, mortgage, student loan interest, and other items) is a good option because it generally ensures a shorter turnaround time.
IRS Tax Refund 2024
Several factors can determine when a taxpayer might receive his or her tax refund, including:
- How early the return is filed;
- If the taxpayer is claiming certain credits (especially EITC and CTC);
- Whether the return is e-filed or sent by mail;
- Whether the taxpayer has existing debts to the federal government.
So, here’s the graph you’ve been looking for. We will update this map if the IRS announces any changes this spring. Remember, this is only an estimate of when you can anticipate your return. It is not exact because each person has a unique set of tax returns, documentation, income, and other circumstances. The first column indicates when the IRS “accepts” your return, which might take up to 2-3 days after you file it online. Mailing in a paper return can add a few weeks to the process at the start because the IRS must manually enter it into their computer systems.
Estimated 2024 IRS Tax Refund Calander
| If the IRS Accepts an E-Filed Return By: | Then Direct Deposit refund may be sent as early as 10 days after the e-file is received. (Paper check mailed sent apx. 1 week after that): |
| * IRS may start accepting returns on Jan. 22, 2024. | |
| * Jan 22, 2024 | Feb. 2 (Feb. 9)** |
| *Jan. 29, 2024 | Feb. 9 (Feb. 16)** |
| Feb. 5 | Feb. 16 (Feb. 23)** |
| Feb. 12 | Feb. 23 (Mar. 1)** |
| Feb. 19 | Mar. 1 (Mar. 8)** |
| Feb. 26 | Mar. 8 (Mar 15) |
| Mar. 4 | Mar. 15 (Mar. 22) |
| Mar. 11 | Mar. 22 (Apr. 29) |
| Mar. 18 | Mar. 29 (April 5) |
| Mar. 25 | Apr. 5 (Apr. 12)*** |
‘*’ denotes = Estimated date the IRS may start accepting e-filed tax returns.
‘**’ denotes = Returns with EITC or CTC may have refunds delayed until March to verify credits.
*** = Filing during peak season (late March through April 15) can result in slightly longer waits.
| IRS Accepts Return By: | Direct Deposit Sent (Or Paper Check Mailed one week later) |
| Apr. 1, 2023 | Apr. 12 (Apr. 19)*** |
| Apr. 8 | Apr. 19 (Apr. 26)*** |
| Apr. 15 | Apr. 26 (May 3) |
| Apr. 22 | May 3 (May 10) |
| Apr. 29 | May 10 (May 17) |
| May 6 | May 17 (May 24) |
| May 13 | May 24 (May 31) |
| May 20 | May 31 (June 7) |
IMPORTANT: If you file electronically (using an online tax application or preparer), the IRS will notify you of the date your return was “accepted” by the agency. This is usually 1-3 days after you hit the “file” or “submit” button, and you must use this date on the left side of the above chart.
Taxpayers who mail a paper version of their income tax return can expect a 3-4 week delay since the form must be uploaded into the IRS system before it can be processed.
What after filing the IRS Return for the tax year 2023?
- After filing the tax refund for the year 2023 electronically or on paper, one has to wait for its approval. If the refund is filed electronically, it takes about a week for approval, and in the case of on-paper refund filing, it takes weeks.
- An individual is not required to do any activity after filing the tax refund for the year 2023. Once it is approved by the Internal Revenue Service, the refund is received through the chosen option i.e. direct deposit or paper check.
- Taxpayers who utilize a professional, such as a CPA or EA, can ask for an estimated date of their tax refund and be more certain that their taxes have been properly (and lawfully) filed.
- There are other apps for Apple, Android, and other devices that can track the status of refunds.
- According to the IRS, returns containing refunds are processed and payments are provided within 21 days, and in many cases within 10 days. This can take significantly longer for paper filers. Electronic filing is strongly encouraged by the IRS and tax specialists.
What If You Can’t File Your Income Taxes By April 15?
If you don’t have all of the paperwork you need to complete your taxes, you can quickly file an extension form, “Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.” (See IRS Form 4868 for more information.) – The individual will have until October 15, 2024, to file the federal tax return. There is no cause or excuse required to acquire this extension, and as the title suggests, it is issued automatically. Check the extension rules for your specific state as the extension date may differ from the federal return extension date.
Even if an extension to file has been requested, if a person will owe taxes with the tax return, it is still the taxpayer’s responsibility to pay those taxes by April 15, 2024. This payment can be made with the help of a tax professional. Those who are due a refund must normally file an extension request by April 15, 2024. This procedure can be completed by any tax professional or most do-it-yourself tax software.