Many reloadable prepaid cards have account and routing numbers that you could provide to the IRS. You would need to check with the financial institution to ensure your card can be used and to obtain the routing number and account number, which may be different from the card number. Your refund should only be deposited directly into U.
No more than three electronic refunds can be deposited into a single financial account or pre-paid debit card. Taxpayers who exceed the limit will receive an IRS notice and a paper refund. Whether you file electronically or on paper, direct deposit gives you access to your refund faster than a paper check.
Refunds that are direct deposited are not delayed for disaster and other weather-related events affecting mail delivery. Refunds for returns that have errors or that need special handling could take up to four months, according to the IRS. Delays also occur when the IRS suspects identity theft or fraud with any return. Respond quickly if the IRS contacts you by mail for more information or to verify a return.
A delay in responding will increase the wait time for your refund. If you submitted an amended tax form, it may take more than 20 weeks to receive a refund due to processing delays related to the pandemic. The IRS has eliminated the guesswork of waiting for your tax refund by creating IRS2Go , an app that allows you to track the status of your return. Both tools provide personalized daily updates for taxpayers 24 hours after a return is e-filed or four weeks after the IRS has received a paper return.
After inputting some basic information i. Once your refund reaches the third stage, you will need to wait for your financial institution to process a direct deposit or for a paper check to reach you through the mail.
Deciding how to spend, save or invest the money in advance can help stop the shopping impulse from getting the best of you. Your refund is yours to use how you see fit and can be used to help pay for day-to-day expenses or invested for long-term financial stability.
Looking for inspiration? Bankrate offers five smart ways to invest your tax refund. How We Make Money. Michelle Black. Written by. We may receive a commission when you click on links for products from our affiliate partners. Look over your return for any errors before submitting. If you are claiming the Recovery Rebate Credit on your return because you didn't receive a stimulus check that you qualified for, or you received a lesser amount, double check that the amount you claim is correct.
This can cause a delay as the IRS will flag your return for review. Choose to have the refund directly deposited into your bank account. Doing so ensures you get your refund as quick as possible, plus it avoids any chance of a check getting lost in the mail. Use an online tax software that walks you through the process so you can file fast, accurately and get your maximum refund. Select reviewed 12 tax filing programs, evaluating them on a range of features, including cost, user experience, expert tax assistance and Better Business Bureau rating.
Know what dependents credits and deductions you can claim Get started. Know what tax documents you'll need upfront Get started. Learn what education credits and deductions you qualify for and claim them on your tax return Get started. The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice.
Skip To Main Content. Where's My Tax Refund? First, we "stamp" the return with an electronic postmark, and then we send it to the government. Then we both wait 24 to 48 hours for the IRS to accept your return. What are they doing? They are checking your personal information to make sure it matches their records. If everything looks good, the IRS accepts your return.
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