Here’s when you should expect to receive your tax refund in 2024
Jan. 29, 2024, marked the beginning of tax season, when the IRS started accepting and processing 2023 tax returns. As of the week ending Feb. 16, 2024, the agency received 34.7 million returns and issued 20.9 million refunds.
To date, the average refund for tax year 2024 is $3,140.
Here’s what you need to know about your tax refund, including when to expect it, what might hold it up and more.
When are taxes due in 2024?
The deadline for most taxpayers to file a federal tax return is Monday, April 15, 2024.
Because of the observances of Patriot’s Day (April 15) and Emancipation Day (April 16), taxpayers in Maine and Massachusetts have until Wednesday, April 17, 2024, to file.
Parts of the U.S. impacted by severe weather have been given extensions to file their federal returns. A full list of affected states is available on the Federal Emergency Management Agency website.
How to file your taxes
The IRS encourages taxpayers to leave enough time to gather documents and deal with any issues ahead of the deadline. You should also make sure your banking and personal information is correct and current to avoid delays or mistakes with your refund.
If you’re nervous about filing yourself, using TurboTax is one of the easiest ways to do it. The basic free edition, which accepts Form 1040 and limited tax credits, provides guided preparation and lets you import your W-2 and previous returns. According to TurboTax, 37% of filers are eligible to use TurboTax Free Edition for free. ~37% of taxpayers qualify. Form 1040 + limited credits only.
If you’re itemizing deductions, TurboTax Deluxe Online, a paid version, allows you to report investment, business and rental income and checks to see if you qualify for any of hundreds of deductions and credits.
If your adjusted gross income in 2023 was less than $79,000, you may be able to file for free through Free File, a partnership between the IRS and top tax software companies.
The IRS has also launched its Direct File pilot program, a free way to file your federal tax return online. Currently, the program is only open to residents of 12 states (Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington and Wyoming) who report certain kinds of income and credits.
When you can expect your 2023 tax refund
If you file an electronic return, expect a refund and opted for direct deposit, you should get it within 21 days of filing, as long as there are no issues with your return, like inaccuracies or incomplete information, according to the IRS.
If you sent your return by mail or filed an amended return, it will take at least four weeks for your refund to be processed.
To check your refund status, use the Where’s My Refund? tool on the IRS website. You’ll need to input your Social Security number, filing status and the exact refund amount listed on your return.