How to Handle Tax Refund Delays in 2024? Check Payment Date, Status, and More

In this guide, we will explain how to handle Tax Refund delays happening in 2024 due to various unforeseen circumstances. Most individuals obligated to file taxes had until April 15th to submit their returns, with the possibility of requesting a tax extension.

The American tax return system is renowned for its efficiency, yet many individuals are experiencing delays in their tax refunds this year. Various factors contribute to these delays, including errors in data entry during the filing process, late submissions, misspellings, and choosing incorrect filing or receiving methods.

According to a Pew Research report, the federal government expects to collect about $2.33 trillion in individual income taxes this year, accounting for nearly half (48.5%) of its total receipts.

Latest Update on IRS Tax Refund Delays in 2024

As per the IRS, most taxpayers can expect to receive their tax refunds in 2024 within 21 days of filing. If you filed as early as January 29, the earliest possible date, you should anticipate your direct deposit refund by February 19. 

However, note that specific credits may not be refunded before mid-February, with availability expected by February 27. While awaiting your refund, keep in mind that the IRS is actively enhancing its services for taxpayers during this filing season.

With the April 15, 2024 deadline looming, it is projected that over 128.7 million individual tax returns will be filed. Given this, many are eager to know when they will receive their IRS tax refund in 2024. Stay tuned as we delve into the reasons behind potential delays in this post.

IRS Tax Refund Payment Dates For Fiscal Year 2024

For those seeking a more accurate estimate of when the IRS expects to issue tax refunds, the agency has published an approximate refund date schedule on its official website at www.irs.gov. While early filers may receive their tax refunds sooner, it’s advisable to exercise patience for a bit longer.

 Below, we’ve included a table displaying the 2024 IRS Tax Refund Schedule for reference:

Reasons Behind Tax Refund Delays in 2024

In 2024, there are various reasons why your IRS tax refund could face delays. Common factors include:

• Submitting a paper return instead of an electronic one, which typically takes longer to process and may encounter mail issues or delays.
• Claiming either the Additional Child Tax Credit (ACTC) or the Earned Income Tax Credit (EITC), which legally requires the IRS to hold refunds until at least February 27, 2024, for eligibility verification.
• Providing incorrect information such as Social Security numbers, bank account details, or filing status, leading to the IRS rejecting or reviewing your return, causing delays in your refund.
• Being susceptible to identity theft or fraud, which may prompt the IRS to conduct identity verification or investigate suspicious activity on your 2024 tax return, prolonging the refund process.
• Submitting an incorrect AGI form, which will result in your tax return being rejected, requiring you to refile.
• Making errors in your tax return, such as mistyping numbers or miscalculations, potentially leading to owing money or facing penalties for overpayment.

These are some of the potential reasons that could lead to a delay in your Tax Refund payment.

How to Handle Tax Refund Delays in 2024?

There are several ways to handle Tax Refund delays in 2024. The first and most significant thing is to figure out the cause behind the delay and rectify it. You can use the tool provided by the IRS called “Where’s My Refund” to check the status of your refund. 

Before that, here are some key points to note about Tax Refund Delays 2024:

• It typically takes 24 hours after taxpayers file their 2023 return for the tool to update.
• For tax returns from 2022 or 2021, it usually requires three to four days after receipt for the tool to reflect the status.
• If taxpayers mail their tax returns, it may take up to four weeks for the tool to update.

To stay updated, taxpayers should regularly check the official portal of the Internal Revenue Service at www.irs.gov. The department updates the tool once a day, typically overnight.

How to Check Tax Refund Status Using “Where’s My Refund?”

The IRS offers a helpful tool called “Where’s My Refund” for tracking tax refund payments. To use this tool, taxpayers need to input their Social Security Number or individual taxpayer identification number. 

Once the IRS receives this information, the tool automatically updates the recipient’s refund status. To check your tax refund status using “Where’s My Refund?” follow these steps:

1. Visit the official IRS website at www.irs.gov.
2. Look for the “Tools” section on the homepage and select “Where’s My Refund?”
3. You will be directed to a page where you need to input either your Social Security Number or your individual taxpayer identification number (ITIN), your filing status, and the exact refund amount as shown on your tax return.
4. Once you have entered the required information, click on the “Submit” button.
5. The tool will then display the status of your tax refund, indicating whether it has been received, processed, or issued. It will also provide an estimated date for when you can expect to receive your refund.

Keep in mind that the information provided by “Where’s My Refund?” is updated once a day, typically overnight, so it’s advisable to check back regularly for any updates on your refund status.

How to Prevent Tax Refund Delays in 2024?

Upon filing, your tax return becomes the property of the IRS and is subject to their regulations. However, following these guidelines should facilitate the prompt receipt of your refund without any potential delay:

• The IRS processes accurate and complete tax returns more efficiently. Using tax software or seeking advice from a tax professional can ensure accuracy and reduce errors.
• Submit your tax return electronically as soon as possible to minimize the risk of errors, delays, or fraud.
• Opt for direct deposit to receive your refund. This method is both the safest and quickest way to receive your money. You can choose to have your refund deposited into one, two, or three accounts, including retirement, savings, or checking accounts.
• Consider refraining from claiming the Additional Child Tax Credit or the Earned Income Tax Credit, if possible.

If you’re facing financial difficulties and require immediate access to your refund, you can contact the IRS and request an expedited refund. You will need to provide an explanation of your circumstances and furnish evidence of your hardship.

Final Words

In conclusion, navigating tax refund delays in 2024 requires patience, understanding, and proactive steps. While delays may arise due to various factors, such as filing errors, claiming certain credits, or IRS processing times, there are strategies to mitigate their impact. 

By ensuring the accuracy and completeness of your tax return, submitting it electronically, opting for direct deposit, and refraining from claiming certain credits if possible, you can expedite the refund process. Additionally, if you’re facing financial hardships and need immediate access to your refund, contacting the IRS and requesting an expedited refund may provide assistance. 

Remember to stay informed, monitor your refund status using tools like “Where’s My Refund,” and seek professional advice if needed. Ultimately, by taking proactive measures and staying informed, you can navigate tax refund delays effectively in 2024.

Disclaimer: While the information provided in this blog post is intended to be helpful, it is not exhaustive and may not address every individual’s unique situation. Tax laws and regulations can change, and individual circumstances vary, so readers are encouraged to consult with a tax professional or the IRS for personalized guidance and assistance.