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When Will My Tax Return Come: A Guide for 2023

Introduction

It's that time of year again when taxpayers eagerly await their tax refunds. But with recent changes in tax laws and the ongoing pandemic, many are left wondering, "When will my tax return come?" In this article, we'll provide you with some helpful tips and information on when you can expect to receive your tax refund in 2023.

Understanding Tax Refunds

Before we dive into when you can expect to receive your tax refund, it's important to understand how tax refunds work. A tax refund is money that the government owes you because you overpaid your taxes throughout the year. The amount of your tax refund is determined by the amount of taxes you paid versus the amount of taxes you owed.

Changes to Tax Laws

In 2023, there are some changes to tax laws that may impact when you'll receive your tax refund. The Tax Cuts and Jobs Act (TCJA) that was passed in 2017 brought about significant changes to the tax code. One of the changes included a delay in the processing of refunds for taxpayers who claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC).

When to Expect Your Refund

In general, the IRS issues most refunds within 21 days of receiving your tax return. However, with the changes brought about by the TCJA, taxpayers who claim the EITC or ACTC may experience a delay in their refund. If you file your tax return electronically and choose to have your refund directly deposited into your bank account, you may receive your refund even faster.

Checking the Status of Your Refund

If you're wondering when your tax refund will come, you can check the status of your refund online through the IRS website. You'll need to provide your social security number, filing status, and the exact dollar amount of your refund. The IRS updates their refund status tool once a day, so you'll want to check back regularly for updates.

Common Reasons for Delays

There are several reasons why your tax refund may be delayed. One common reason is an error on your tax return. Make sure to double-check your return for accuracy before submitting it to the IRS. Another reason for delay is if you claim certain tax credits, such as the EITC or ACTC, as we mentioned earlier. Finally, if you owe money to the IRS or other government agencies, they may withhold your refund until the debt is paid.

What to Do if Your Refund is Delayed

If your tax refund is delayed beyond the 21-day window, you may want to contact the IRS to check on the status of your refund. You can do this by phone or by visiting your local IRS office. It's important to note, however, that the IRS is experiencing significant staffing shortages due to the ongoing pandemic, so you may experience longer wait times than usual.

Tips for Getting Your Refund Faster

If you're eager to get your tax refund as soon as possible, there are a few things you can do to speed up the process. First, make sure to file your tax return electronically. This is the fastest and most secure way to file your taxes. Second, choose to have your refund directly deposited into your bank account. This is faster than receiving a paper check in the mail.

Conclusion

In conclusion, if you're asking yourself, "When will my tax return come?" the answer is typically within 21 days of filing your tax return. However, if you claim certain tax credits or if there are errors on your return, your refund may be delayed. Make sure to file your return electronically and choose direct deposit to get your refund as quickly as possible. And don't forget to check the status of your refund online for updates.

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