Delayed Tax Refund 2024: Here's How to Determine Where's Your Payment, How to Claim It Faster!

By Madz Dizon

May 29, 2024 05:10 AM EDT

Delayed Tax Refund: Here's How to Determine Where's Your Payment, How to Claim It Faster! — A man holds up a copy of a tax refund check August 2, 2001 outside the US Capitol in Washington, DC.
(Photo : Mark Wilson/Getty Images)

There are various factors that could potentially cause a delay in receiving your tax refund. These factors may involve mistakes in your tax return that need further reviews, corrections, or additional forms.

How to Check Your IRS Tax Refund Status

The status of your refund is typically accessible on the IRS website "Where's My Refund?" approximately 48 hours after electronically filing your tax return.

On the website, you can also access refund information for the current year and the two preceding years, according to NBC New York. Simply utilize the IRS "Where's My Refund" tool. To receive an update, you will need the following:

Your Social Security number
Understanding your tax-filing status
The precise sum of your refund

However, if you submitted your tax return via paper, it may take up to four weeks to receive an update.

Overall, the IRS typically strives to process tax refunds promptly. However, in the event that your refund is delayed due to circumstances beyond your control, you may be entitled to receive additional funds in the form of interest.

Why My Tax Refund is Delayed?

On average, the IRS usually takes about 21 days to issue a refund after receiving an electronically filed tax return. Nevertheless, there are specific elements that may cause a delay in receiving a tax refund. Here are some examples:

An inaccurate tax return with incorrect personal details or incomplete information
An incorrect bank account was provided for direct deposit on the tax return.
A tax return submitted on paper typically takes longer to process compared to electronic returns.

It is important to note that the IRS does not provide interest on tax refunds that are delayed due to errors made by the taxpayer, as The Motley Fool via MSN reported.

However, if your tax return is free of errors, the IRS is required to issue your refund within a reasonable timeframe, which is typically defined as 45 days.

If the IRS fails to issue your refund within the specified time frame, the agency is obligated to compensate you with interest on your overdue refund. Typically, the interest begins accruing from the date the IRS received your return.