Receiving a tax refund can be an exciting and relieving moment for taxpayers. Many eagerly anticipate this moment and often find themselves repeatedly checking the status of their refund. Knowing when the IRS updates the refund status can save you time and reduce anxiety. This article aims to provide insights into the timing and frequency of updates to the IRS refund status, as well as how to check it.
IRS Refund Status Update Schedule
The IRS typically updates the refund statuses overnight. Generally, the status is updated once every 24 hours, usually at night. Many taxpayers have observed that the updates tend to occur between midnight and 6 am, Eastern Time, but this is not set in stone.
It’s also important to note that the IRS has an official statement that they update refund statuses once a day, usually overnight. Therefore, checking the status multiple times in a single day is unnecessary and will not yield any new information.
When to Start Checking
The IRS advises taxpayers to start checking the status of their refunds 24 hours after e-filing, or four weeks after mailing a paper return. This is because it takes time for the IRS to process the return and for the status to be updated in their system.
How to Check Your Refund Status
To check your refund status, you can use the “Where’s My Refund?” tool on the IRS website or the IRS2Go mobile app. You will need the following information to access your refund status:
- Social Security number or ITIN (Individual Taxpayer Identification Number).
- Your filing status (Single, Married Filing Jointly, Head of Household, etc.).
- The exact refund amount shown on your tax return.
Once you have this information, you can enter it into the “Where’s My Refund?” tool or the IRS2Go app to check your refund status.
Understanding Refund Statuses
There are three stages reflected in the IRS refund tracking system:
- Return Received: This means that the IRS has received your tax return and it is being processed.
- Refund Approved: The IRS has finished processing your return, and your refund has been approved.
- Refund Sent: Your refund has been sent to your bank via direct deposit, or as a check by mail.
Potential Delays
While the IRS is generally efficient in processing refunds, there can be delays. During the high-traffic tax season, or if there are errors or issues with your tax return, the processing time may be extended. Additionally, if you claim certain tax credits, such as the Earned Income Tax Credit or the Additional Child Tax Credit, the IRS is required by law to hold your refund for a longer period.
Conclusion
Understanding when the IRS updates the refund status can help manage your expectations and make the waiting period less stressful. The IRS generally updates refund statuses overnight, once every 24 hours. By using the “Where’s My Refund?” tool or the IRS2Go app, and keeping in mind the processing times and potential delays, you can stay informed about the status of your tax refund.