Business
IRS Warns Tax Filers to Expect Delays in Refunds This Season
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DETROIT, Mich. — The Internal Revenue Service (IRS) has officially begun accepting individual tax returns for the 2024 tax season, advising filers that they can expect refunds within approximately three weeks of submitting their returns electronically. However, potential delays could impact many taxpayers.
Taxpayers filing electronically and selecting direct deposit typically receive their refunds in less than 21 days. As of now, the IRS anticipates more than 140 million returns will be filed this year. “The filing season is well underway, but we advise against relying on specific dates for refunds,” said IRS spokesperson Karen Connelly.
Factors contributing to potential delays include the federal Protecting Americans from Tax Hikes (PATH) Act, which mandates that the IRS cannot issue refunds for claims related to the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) until after mid-February. Those expecting EITC or ACTC refunds could see their funds in bank accounts or on debit cards by March 3, as long as there are no issues with the filed return.
For individuals who mailed their returns, a longer wait is anticipated, with processing taking at least four weeks. To assist in tracking refund status, the IRS offers online tools, including the “Where’s My Refund?” service, which requires a filer’s Social Security number or individual taxpayer ID number, filing status, and exact refund amount.
This tax season has experienced significant changes, as evidenced by the IRS processing 15.8% fewer individual income tax returns compared to last year’s first-week data. Nearly 11.73 million returns processed represents a 14% decrease in returns received within the same timeframe.
The IRS stated in a report, “Large percentage changes in filing season numbers are typically seen at the beginning of each tax season,” noting that these figures are likely to balance out over the coming weeks. Frequently, people wait for key income documents, which impacts submission numbers. Employers must report employee earnings by January 31, but many filers access their information online and may proceed without waiting for mailed documents.
Richard McMahon, a tax consultant, noted, “In the early stages of tax season, there are often many uncertainties as new tax codes and deadlines are enforced, making it vital for filers to be proactive and informed.”
Waiting for refunds can be stressful, particularly for filers who depend on them for significant expenses. The IRS cautions taxpayers against banking on a specific refund date. “We want people to be mindful not to make large financial decisions or purchases based on assumed refund dates,” advised Connelly.
The last day to file federal tax returns for most individuals is April 15, 2025. However, those in federally designated disaster areas will benefit from extended deadlines. For example, taxpayers affected by the recent California wildfires have until October 15, 2025.