Tax season begins Monday.
That’s when the IRS officially starts accepting tax returns.
Many Americans are already counting on refunds. A recent survey conducted by Qualtrics for Intuit Credit Karma found that more than a third of taxpayers rely on their tax refunds to make ends meet. That rate was even higher, 50%, among millennials.
The survey of 1,000 U.S. adults also found, “of those who depend on their refund to make ends meet, nearly half (45%) say it’s because of the rising cost of living and necessities (i.e. housing, groceries). Others point to inflation (41%), living paycheck to paycheck (37%) and depleted savings (21%).”
Whether you’re among them or just want your money, here’s when you can expect your tax refund and how to track it.
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When should I expect my tax refund?
It depends on how you file your taxes and how you choose to receive your refund.
If you file electronically and your return is accurate and complete, the IRS says it should take less than three weeks to receive your refund and even less time if you choose direct deposit.
If you mail in a paper return, the refund should be issued within roughly six to eight weeks of the date the IRS receives the filing, again assuming it’s accurate and complete.
How do I track my refund for taxes?
Once you file your taxes, you can track your refund on the IRS website.
To do so, you’ll need your:
- Social Security number or individual taxpayer ID number (ITIN)
- Filing status
- Exact refund amount
The IRS says information is updated once daily, overnight. And once a refund is marked sent, “It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.”
If there is an issue with your tax return requiring more information or additional review, the IRS will send you a letter and your refund could be delayed.
As we approach the end of the year, many people are already thinking about their 2025 tax refund. If you’re wondering when you can expect to receive your refund and how you can track it, you’ve come to the right place.
The IRS typically begins accepting tax returns in late January or early February each year. This means that if you file your taxes promptly, you could potentially receive your refund as early as mid-February. However, the exact timing of your refund will depend on several factors, including how you filed your taxes (electronically or by mail) and whether you opted for direct deposit or a paper check.
To track the status of your refund, you can use the IRS’s “Where’s My Refund?” tool on their website. Simply input your Social Security number, filing status, and the exact amount of your expected refund, and the tool will provide you with real-time updates on the status of your refund.
Remember, it’s important to file your taxes accurately and on time to avoid any delays in receiving your refund. If you have any questions or concerns about your tax return, don’t hesitate to reach out to a tax professional for assistance. By staying informed and proactive, you can ensure a smooth and timely refund process in 2025.
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