How long does it take IRS to approve refund with TurboTax? (2024)

How long does it take IRS to approve refund with TurboTax?

IRS approval: The IRS works to review and approve refunds quickly and efficiently. In fact, historically, more than 9 out of 10 refunds are processed and approved within 21 days of e-file acceptance.

How long does it take TurboTax to approve refund?

Typically it takes 21 days to receive your refund after the IRS accepts your return. In the meantime, you can check your e-file status online with TurboTax. Tax Refund Tracking Guide Does “accepted” mean my refund is approved? Why does Where's My Refund say “approved” but Turbotax still says “accepted”?

How long does it take for your tax refund to say approved?

(updated December 22, 2023) We issue most refunds in less than 21 calendar days. However, if you mailed your return and expect a refund, it could take four weeks or more to process your return.

How do I know if my tax return was accepted on TurboTax?

Once you submit your return in TurboTax Online, you'll see its status on the Tax Home screen of your account.

Why is my refund approved on TurboTax but not on IRS?

Why does Where's My Refund say "approved" but TurboTax still says "accepted"? Accepted is the status of your tax return—not your tax refund. Once your return has been accepted (received) by the government, they take over the refund status update duties, since they hold the purse strings.

Why has my refund been accepted but not approved?

If a taxpayer receives the status update that their tax return was accepted but not approved, this means that the IRS has received their tax return, but they have not yet evaluated the information.

Why does TurboTax say my refund was approved?

TurboTax and the IRS are just not using the same verbiage. TurboTax is telling you that the IRS accepted your return for processing. Now the IRS has it, and will process it until they approve of your refund.

How will I know if my refund is approved?

Use the IRS Where's My Refund tool or the IRS2Go mobile app to check your refund online. This is the fastest and easiest way to track your refund. The systems are updated once every 24 hours. You can contact the IRS to check on the status of your refund.

Why is it taking so long to approve my refund?

Why is my refund taking so long? A refund will take longer if you file by mail or don't select direct deposit. In addition, if the return is more complex or corrections are needed, it may slow the process down.

How do you know if your refund status is approved?

You can also check the status of your refund on your smartphone by downloading the IRS' mobile app, IRS2go, or by calling the agency's automated refund hotline at 800-829-1954.

How long does it take for IRS to approve refund 2024?

Taxpayers should make IRS.gov their first stop to get information on filing a tax return. There is information on Choosing a tax professional, IRS Free File, Answers to tax questions and Tips on filing a return. Taxpayers who file electronically and choose direct deposit typically get their refund in less than 21 days.

Can your refund be rejected after being accepted?

No, once the IRS accepts the return, it will not be rejected after. However, they may request additional information from you at any time. If you have received notice that the IRS accepted your return, you can be confident they have it, though that does not always mean they have processed it yet.

Should I be worried if my refund is still being processed?

If your refund details state that it's still processing, you can check your tax return to see if you catch any errors. If your refund status instructs you to contact the IRS, you can speak to an agent to get clarification by calling 1-800-829-1040.

How long does it take for IRS to approve refund after identity verification?

After you verify your identity and tax return information using this service, it may take up to nine weeks to complete the processing of the return. Visit Where's My Refund? or use the IRS2Go mobile app 2-3 weeks after using this service to check your refund status.

Does the IRS check every tax return?

The IRS does not check every tax return; in fact, it does not check the majority of them; however, the IRS implements methods that track certain factors that would result in a further examination or audit by them.

What does it mean when TurboTax says accepted?

Accepted means your tax return was received and has passed initial inspection, such as correct Social Security number and correctly claimed dependents. It can take anywhere from a few days to three weeks for your return to go from acceptance to approval.

Will I get an email when my taxes are approved?

Generally, once your return is e-filed you will receive an acknowledgement email within 48 hours. This email will let you know if your return was accepted or rejected. Once the IRS has accepted your return, the amount of time that it will take to actually receive a refund may vary.

Does processing mean approved for tax refund?

Here's what each one means: Return Received – The IRS has received your return and it's being processed. Refund Approved – They've processed your return and your refund has been approved. It will also provide an actual refund date.

What days are refunds deposited 2024?

What is the child tax credit for 2024?

The maximum refundable child tax credit amount is currently capped at $1,600 per dependent. It would increase to $1,800 for the current filing season. In tax years 2024 and 2025, the refundable amount would grow to $1,900 and $2,000.

Why tax return so low 2024?

You may be in line for a smaller tax refund this year if your income rose in 2023. Earning a lot of interest in a bank account could also lead to a smaller refund. A smaller refund isn't necessarily terrible, since it means you got paid sooner rather than loaning the IRS money for no good reason.

What reasons would the IRS reject your return?

How do you know if the IRS doesn't accept your return?

It will generally mail you a notice if there is a problem with your return. An IRS agent may call you or visit your home, but usually only after sending several letters first. When an e-filed return gets rejected, the IRS will often let you know within a few hours.

What causes the IRS to reject your return?

Some common culprits that could cause a rejection are mismatched names, SSNs, employer EINs, electronic signature numbers, or an expired TIN. Another action to take is to file your return early.

How long does it take for IRS to approve refund after it is accepted 2024?

Once the agency accepts your return, you can begin to track your refund — but keep in mind that refund processing and delivery can take up to three weeks after acceptance.