Why is it taking so long for my tax return to be approved? (2024)

Why is it taking so long for my tax return to be approved?

Some tax returns take longer to process than others for many reasons, including when a return: Is sent by mail. Contains errors or is incomplete. Needs further review in general.

Why is it taking so long to approve my refund?

The time it takes for the IRS to process and approve a federal tax refund can vary depending on several factors, including the method of filing, the accuracy of the return, the complexity of the return, and the volume of returns received by the IRS.

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.

Why is my refund not saying approved?

"IRS Accepted Return But Not Approved" Meaning

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.

How long will my refund be under review?

The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it's possible your tax return may require additional review and take longer.

How do I know if my tax return has been flagged?

Taxpayers whose tax returns have been flagged for possible IDT should receive one of the following letters: Letter 5071C, Potential Identity Theft during Original Processing with Online Option – Provides online and phone options and is issued most widely.

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.

Why is my refund still showing still being processed?

Some tax returns take longer to process than others for many reasons, including when a return: Is sent by mail. Contains errors or is incomplete. Needs further review in general.

What does it mean when your refund is still being processed?

Your refund may be delayed if: Your return has mistakes or is incomplete. The IRS suspects identity theft or fraud. Your return needs further review.

Is still being processed bad?

It means your return is being processed. and you have nothing to worry about for now. If you have been waiting for longer than 21 days after your return has been accepted then you can contact the IRS to check the status of your return.

Why is my refund taking so long 2024?

Tax season is nearly over, and people who filed earlier in the window may wonder why a return is taking so long to process. The IRS has received 1.7% fewer returns this tax season but has processed 2% fewer returns this year compared to 2023, according to Forbes.

What is the longest the IRS can hold your refund?

If you provide the information the IRS requested, the IRS should correct your account and resolve the refund issue (generally within 60 days). If you file a missing or late return, the IRS will process your returns and issue your refunds (generally within 90 days).

How do you know if the IRS is reviewing your return?

If the IRS decides that your return merits a second glance, you'll be issued a CP05 Notice. This notice lets you know that your return is being reviewed to verify any or all of the following: Your income. Your tax withholding.

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

If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.

Can you be audited after your tax return is approved?

Key Takeaways. Your tax returns can be audited even after you've been issued a refund. Only a small percentage of U.S. taxpayers' returns are audited each year. The IRS can audit returns for up to three prior tax years and, in some cases, go back even further.

What is a red flag from IRS?

Not reporting all of your income is an easy-to-avoid red flag that can lead to an audit. Taking excessive business tax deductions and mixing business and personal expenses can lead to an audit. The IRS mostly audits tax returns of those earning more than $200,000 and corporations with more than $10 million in assets.

What raises red flags for the IRS?

Too many deductions taken are the most common self-employed audit red flags. The IRS will examine whether you are running a legitimate business and making a profit or just making a bit of money from your hobby. Be sure to keep receipts and document all expenses as it can make things a bit ore awkward if you don't.

How long is it taking to get tax refunds 2024?

If you file an electronic return, expect a refund and opted for direct deposit, you should get it within 21 days of filing, as long as there are no issues with your return, like inaccuracies or incomplete information, according to the IRS.

What's the difference between being processed and still being processed?

If their refund status changes from “being processed” status to “still being processed” status, the issue detected in the tax forms was likely resolved and the refund may be released when it is approved for a future cycle date.

What time does IRS update refund status?

The IRS updates the tool once a day, usually overnight, so there's no need to check more often. This prevents individuals from having to contact the IRS for updates unless the tool requests them to call.

What if my tax return is still being processed after 21 days?

There is no regulation that requires the IRS to issue refunds within 21 days. The only regulation that applies to refunds is that the IRS must pay interest on any refund that is not issued within 45 days of the filing date (April 15) when the return is filed on or before that date.

Why does my refund say we have received your tax return and it is being processed?

This means the IRS has your tax return and is processing it. Your personalized refund date will be available as soon as the IRS finishes processing your return and confirms that your refund has been approved. Most refunds are issued in less than 21 days.

What does still being processed mean with tax Topic 152?

But, if you've seen Tax Topic 152, your refund will likely take longer than 21 days to process. It doesn't mean you've done anything wrong or you won't get your refund. It's just an indication that your return is still being processed and has yet to be accepted or rejected.

Does processed always mean bad?

Not all processed food is bad for you. Some foods need processing to make them safe, such as milk, which needs to be pasteurised to remove harmful bacteria. High-fibre breakfast cereals, wholemeal breads, and some lower-fat yoghurt can also form part of a healthy diet.

What do I do if my tax refund is taking too long?

If it's been more than 21 days since you filed your tax return, and you still haven't received your money, it's time to use the IRS refund tracker tool to check the status of your money. Keep reading to find out how to track the status of your refund and any other money the IRS owes you.