Staying Fit
If you’re expecting a federal tax refund from your 2023 tax year return, you’re probably checking your mail every day like a forlorn teenager hoping for a valentine. When your love note from the IRS will arrive depends on when you filed, how you filed and what you filed.
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First, you don’t have to sit by the mailbox if you’re expecting a paper check. You can go to IRS.gov/refunds to check the status of your refund via its automated “Where’s My Refund?” system. You can also use the IRS2Go app on your smartphone. You’ll need your Social Security number, your filing status (single, married filing jointly, married filing separately, head of household, qualifying widow[er]) and the exact amount of the refund you’re expecting from your tax return. The IRS updates the information once a day, usually overnight. As of early April, the average refund was $3,011, up nearly 5 percent from last April’s average of $2,878.
You can start checking with the IRS within 24 hours if you filed electronically, or within four weeks if you sent your return by mail. Whether you check on your computer or through the app, you’ll be able to follow your return as it snakes through the system. You’ll get a message that either says the return has been received or processed and, finally, whether the refund has been issued.
Some day my refund will come
The IRS says it issues nine out of 10 refunds within 21 days. If you file electronically and opt for direct deposit in your bank account — the fastest route to a refund — check with the IRS if it doesn’t arrive within 21 days. If you filed by mail and get a paper check, your refund may take up to eight weeks to arrive.
You can split your refund between up to three accounts, including an individual retirement account. You can also use it to purchase up to $5,000 in U.S. Savings Bonds. You can use your tax software to do it electronically or use IRS Form 8888, Allocation of Refund PDF (including Savings Bond Purchases) if you file a paper return.
