Why is my tax refund taking so long? Use IRS tracking tools to check its status



Did you meet the May 17 tax filing deadline this year but still haven’t received your refund? The IRS has two apps that show the status of your money and provide clues if there is a delay. There could be lags for a variety of reasons, not only due to a backlog caused by the pandemic but also because of corrections that need to be made on tax returns.

For instance, the IRS may need to do extra calculations if you qualify for a recovery rebate credit. The IRS might also be recalculating your refund because you paid taxes on unemployment benefits you received in 2020. The IRS online tools tell you if your tax return was received, if it’s being processed or when your refund was deposited or mailed.

We can also tell you what to do if your third stimulus check has gotten lost — track that payment here. You might be interested in whether you’re eligible for other COVID-related credits and benefits. If you have dependents, here’s how to calculate how much money you might get through child tax credits. This story is updated frequently.

Are there delays with the IRS processing tax returns this year?
Because of the pandemic, the IRS ran at limited capacity in 2020, which put a strain on its ability to process tax returns and send out stimulus checks. The IRS is now open again and processing mail, tax returns, payments, refunds and correspondence, the agency said, but the pandemic continues to cause delays in some services.

The IRS said it’s issuing most refunds in less than 21 days right now but some are taking longer, including for mailed paper tax returns. The IRS said it’s also taking longer than 21 days to issue refunds for some 2020 tax returns that require review, such as determining Recovery Rebate Credit amounts for the first and second stimulus checks or figuring earned income tax credit and additional child tax credit amounts…Read more>>

Source:-cnet

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