How long can the irs hold your refund for review

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Updated for Tax Year 2022 • November 17, 2022 02:19 PM


OVERVIEW

Here's what happens when you press that green button and transmit your tax return. Remember, the fastest way to get your tax refund is to e-file and choose direct deposit.


How long can the irs hold your refund for review


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Key Takeaways

• When you e-file, it typically takes 24 to 48 hours for the IRS to accept your return.

• Once your return is accepted, you are on the IRS’ refund timetable.

• The IRS typically issues refunds in less than 21 days after your e-filed return is accepted.

• You can use the IRS Where’s My Refund? tool or call the IRS at 800-829-1954 to check on the status of your refund, beginning 24 hours after you e-file. The IRS will provide an actual refund date as soon as your tax return and refund are approved.

"Where's my tax refund?"

Ever wonder what happens between e-filing your tax return and receiving your refund?
Here is what really happens when you press that green button and transmit your tax return.

  • 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.

Once you are accepted, you are on the IRS payment timetable. Only the IRS knows the status of processing your tax return, whether you owe taxes or are due a refund. In prior years, the IRS issued more than 9 out of 10 refunds to taxpayers in less than 21 days last year. The same results are expected for 2021.


TurboTax Tip: You can use the IRS Where’s My Refund? tool or call the IRS at 800-829-1954 to check on the status of your refund, beginning 24 hours after you e-file. The IRS will provide an actual refund date as soon as your tax return and refund are approved.


Once you have e-filed your tax return, there are a few ways to check the status of your refund:

  • You can use the online IRS Where’s My Refund? tool (fastest option)
  • Call the IRS at 800-829-1954

The online tool will get you personalized refund information based on the processing of your tax return. They will provide an actual refund date as soon as the IRS processes your tax return and approves your refund. Most refunds will be issued in less than 21 days. You can start checking the status of your refund within 24 hours after you have e-filed your return.

Remember, the fastest way to get your refund is to e-file and choose direct deposit.

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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. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.

How long can the IRS process your refund for review?

(updated July 7, 2022) We issue most refunds in less than 21 calendar days. However, if you filed on paper and are expecting a refund, it could take six months or more to process your return.

Why is the IRS taking so long to review my refund?

Many different factors can affect the timing of a refund after the IRS receives a return. A manual review may be necessary when a return has errors, is incomplete or is affected by identity theft or fraud.

Why does my refund still say being reviewed?

The most common reason for the IRS to review a tax return is something called the Discriminant Function System (or DIF) score. The IRS uses a computerized scoring model that evaluates your return and gives it a score based on the likelihood that it will need to be changed.

What happens when your tax return is under review?

The notice you receive will have specific information about why your return is being examined, what documents if any they need from you, and how you should proceed. Once the IRS completes the examination, it may accept your return as filed or propose changes.

How long does a cp05 review take 2022?

The review process could take anywhere from 45 to 60 days, as the IRS could be reviewing various issues such as wages and withholding, or credits or expenses shown on your tax return.