In the worst-case scenario, if you submit an accurate tax return, the IRS will deposit your tax refund within 21 days. So, the Agency will take up to three weeks in most cases if there is no need to review your return. Any errors, incomplete information, or simply requesting a paper check can delay the processing of your payment.
To ensure that you get a tax refund as quickly as possible, there are a few things you should take into account. Filing electronically is wholeheartedly recommended. Not doing so can contribute to making mistakes or not giving all the necessary information. Apart from filing electronically, you should request a direct deposit. Double-checking all the details to avoid errors and a lack of information can help avoid delays, too.
IRS payment schedule for May
If you are not sure when you can collect your IRS tax refund, you can have a look at the possible payment schedule the Agency may follow. Even if you check your tax refund status and you see a sent date, your bank can take up to 5 days to process your payment. So, do not rely on this money since it may not arrive when you expect it.
- 2024 tax returns filed on April 21: tax refund may be issued on May 12
- 2024 tax returns filed on April 22: tax refund may be issued on May 13
- 2024 tax returns filed on April 23: tax refund may be issued on May 14
- 2024 tax returns filed on April 24: tax refund may be issued on May 15
- 2024 tax returns filed on April 25: tax refund may be issued on May 16
- 2024 tax returns filed on April 26: tax refund may be issued on May 17
- 2024 tax returns filed on April 27: tax refund may be issued on May 18
- 2024 tax returns filed on April 28: tax refund may be issued on May 19
This payment schedule is for those taxpayers who expect to collect their tax refund within 21 days. Some recipients may even receive their IRS payment before these dates because they can collect it within 8 days.
IRS payments depending on your choices
Ideally, all taxpayers should file electronically, request a direct deposit and should file a complete and accurate return. However, it is not always like that, and there could be other combinations.
If you file electronically and request a direct deposit, you could receive the money from the IRS within 8 days or you may have to wait up to 21 days. If you filed electronically but you requested a paper check, it could take up to 1 month.
Some people filed by mail and requested a direct deposit. In this case, it can take three weeks before you can collect your IRS payment. Have you filed by mail and requested a paper check? Then, you may have to wait for 2 months to collect your tax refund.
Source: https://www.irs.gov/newsroom/tax-time-guide-use-wheres-my-refund-tool-to-track-refund-status
