Taxes 2021: when the refunds are expected to arrive
Since last year, the IRS has been understaffed and has outdated technology to process refund payments.
Photo: Mark Wilson/Getty Images
Unlike other years, the tax season began weeks before the traditional date, the second week of February. With this change, Americans have the opportunity to file their tax documentation early to receive their refunds as quickly as possible.
For this to happen, the Internal Revenue Service (IRS) has urged Americans to file your return electronicallyThey must also add their bank details so that the money arrives through direct deposit.
The reason for this request has to do with the fact that the tax agency has an enormous amount of work and documentation to release from other tax seasons, so sending the return in the traditional way, on paper, would make taxpayers receive their refund late.
Generally, filers who file electronically will be able to receive their refund money 21 days after that they have delivered their documentation. In the event that filers opt for the traditional format and request that the check be delivered to their home address, then the refund will take longer to arrive, a month or more later.
So that the refunds arrive as soon as possible, filers must take into account that it is essential that they review their documentation in detail, since if mathematical errors are detected, the release of the money can be delayed, even though the declaration is electronic.
“We urge people to carefully review their taxes before filing. And they should file electronically with direct deposit if possible; file a paper tax return this year means a long delay in reimbursement“, IRS Commissioner Chuck Rettig.
The tax agency also asked that taxpayers who were beneficiaries of the Advance Child Tax Credit verify the amounts received last year because they must declare said benefits in the current tax season.
Depending on the calculations made, parents can claim payments or, failing that, they will have to make a refund. For this, it is essential to answer form 6419. The information that is in the document allows eligible people to file their tax return.
The IRS has reported that three-quarters of Americans received a tax refund in 2021, receiving around $2,800. At this time, the agency does not have an estimate of how much money filers will receive on average.
According to dates set by the Internal Revenue Service, tax filing season will end on April 18 this year for most people, instead of the usual April 15 deadline.
You may also like: Child Tax Credit and Taxes: 10 things you should know now for your 2021 filing if you received the payments
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