If you claimed the Additional Child Tax Credit or Earned Income Tax Credit, you can expect to wait until March 3 to get your refund
This group of taxpayers can expect to wait much longer for their tax refund
A typical taxpayer who submits their return electronically with the option for direct deposit can expect to receive their money back within 21 days. There are some filers, however, that can expect to wait much longer.
If you claimed the Additional Child Tax Credit or Earned Income Tax Credit, you can expect to wait until March 3 to get your refund, and that’s only if you opt for direct deposit and there are no other issues with your tax return. Things like holidays and weekends can delay deposits as well.
The delay covers your entire refund, not just the part that is related to the credit you claimed on your tax return, the IRS said.
There is a chance, the IRS said, that some taxpayers may receive their refunds a few days earlier. Information for ACTC/EITC filers will be available on the Where’s My Refund? tool starting on Feb. 22.
Federal law prohibits ACTC or EITC refunds from being issued before mid-February due to extra time that’s required for security checks to confirm the identity of the filer. In the event the IRS needs more information, it will contact you via letter.
The IRS said it expects more than 140 million individual federal income tax returns are expected for tax year 2024 ahead of the April 15 deadline. The IRS began accepting and processing tax returns today.
If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.