Although the specific time for the IRS to process a refund will always vary, in 2015 the IRS estimated that 90 percent of tax refunds will be processed in 21 days. The IRS recommends that taxpayers file electronically, in order to achieve the fastest refunds.Continue Reading
Although the date changes year to year, the IRS typically begins accepting tax returns (electronic or physical) in the last half of January, and, as always, returns must be filed by April 15. Due to the increased labor and time needed to handle physical paperwork, the IRS recommends that taxpayers file electronically.
Taxpayers can cut down on the time needed to receive their taxes by choosing to have their refunds directly deposited into their bank accounts. This way, the taxpayer can sidestep the extra time it takes for the IRS to process a check and to send it out via the Postal Service.
The IRS also recommends that taxpayers rely on the 21-day estimate for refunds by taking care to accurately file taxes. Any tax returns that require extra work by the IRS, extra correspondence or corrections, will take longer than an accurately filled-out tax return.
Taxpayers can also check in on the status of their refund through the IRS website.Learn more about Income Tax