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The IRS is sending an average of nearly $3,000 to eligible taxpayers. As tax season arrives and the IRS gives refunds to taxpayers who overpaid in 2024, most recipients will get a payment of about $2,945 in their bank accounts. According to the agency, taxpayers can use the IRS’ “Where’s My Refund” portal to find out when they will get a payment.
Who is eligible to get a refund from the IRS?
Per The U.S. Sun, taxpayers may be eligible for a refund if they filed their federal income tax returns between mid-April and May and if they paid back more than they owe. As Newsweek reports, “despite budget constraints and potential processing delays,most taxpayers who filed in Mayshould receive their refunds in Juneparticularly if they filed electronically and opted for direct deposit.”
Taxpayers can use the online portal to find out when their return is received, approved or sent. The IRS asks taxpayers to provide their Social Security or individual taxpayer ID number, as well as their filing status and refund amount.
What could cause a delay in getting a refund?
Several factors may cause a delay in taxpayers getting their payments. Some of those factors include how the person filed their taxes or how they want to be paid. In some cases, operational issues can cause delays. Additionally, the recent cuts that have impacted staffing and the IRS budget may cause issues with the system.
People who file a paper tax return as opposed to online are more likely to see delays because the filings are manually checked by IRS agents. Online users normally get their refund processed quickly.
When will the refunds arrive?
As Newsweek reports, here’s when you may expect refunds if you filed during this period:
- May 22 to June 4: Refunds are hitting accounts during this window for people who filed electronically and chose direct deposit between May 1 and May 15.
- May 29 to June 11: If you e-filed but asked for a paper check, your refund should arrive within this range.
- By July 10: For paper filers who submitted returns between May 1 and May 15, refunds may take the longestup to this date.
