Introduction
Tax season can be a stressful time, especially when you’re waiting to hear back from the Internal Revenue Service (IRS) on the status of your tax return. Many taxpayers wonder how long it will take for their taxes to be approved by the IRS, and whether there are any steps they can take to speed up the process. This article will explore the timeline for tax return approvals, and offer tips to help you get your taxes approved as quickly as possible.
Outlining the Steps Needed to Get Your Taxes Approved
The first step in understanding how long it takes to get your taxes approved is to outline the process that the IRS goes through when reviewing your return. The process begins with you preparing and filing your taxes. You can do this yourself using a software program, or you can hire an accountant or other tax professional to assist you. Once your taxes are prepared, you submit them to the IRS either electronically or by mail.
Once the IRS receives your tax return, they begin the process of reviewing it. Depending on the complexity of your return and the accuracy of the information provided, the review process could take anywhere from one to four weeks. During this time, the IRS will check your return for errors and make sure that all the necessary information is included. If the IRS finds any issues during the review process, they may contact you for additional information.
Exploring Tax Return Processing Timeframes
When it comes to understanding how long it takes for taxes to be approved, it’s important to consider the average timeframes for tax return processing. According to the IRS, the average processing time for paper returns is six to eight weeks. For electronically filed returns, the average processing time is three to four weeks. These are just averages though, and some returns may take longer or shorter than these timeframes.
It’s also important to note that the fastest processing times are typically seen in the early weeks of tax season. As more people file their taxes throughout the year, the IRS’s workload increases and the processing times tend to slow down. So if you want to ensure that your taxes are processed as quickly as possible, it’s best to file your return early in the tax season.
On the other hand, if your taxes are more complex or contain errors, it may take even longer for them to be approved. According to Harry Appelbaum, CPA and founder of Appelbaum Tax Services, “If there’s an issue with your return, it could take up to four months for the IRS to process it. In some cases, it may even take longer.”
Examining How Long it Takes to Receive an IRS Refund
If you’re expecting a refund from the IRS, you may be wondering how long it will take to receive it. Generally speaking, most refunds are issued within 21 days of the IRS receiving your tax return. However, there are several factors that can affect the timing of your refund. For example, if you opt to have your refund deposited directly into your bank account, you may receive it faster than if you choose to receive a paper check.
Additionally, if you claim certain credits (such as the Earned Income Credit or the Additional Child Tax Credit), your refund may not be issued until February 15th. This is due to new security measures put in place by the IRS to prevent fraudulent refunds. According to the IRS website, “These credits require extra review time to help protect you and your refund.”
Investigating Factors That Can Affect Tax Return Approval Times
In addition to the factors mentioned above, there are several other factors that can affect the amount of time it takes for your tax return to be approved. Accuracy is key when it comes to filing your taxes, as any incorrect information provided can lead to delays in the approval process. Additionally, the complexity of your tax return can also cause delays, as the IRS must take extra time to review more complicated returns.
Errors in the tax return can also cause delays in approval. If the IRS finds an error in your return, they may contact you and request additional information or documentation. Finally, compliance with existing tax laws is also important, as failure to comply with tax law can result in penalties or other consequences.
Discussing Common Delays in Tax Return Approval
In addition to the factors mentioned above, there are several common delays that can occur when filing your tax return. One of the most common delays is related to taxpayer identification numbers. If the IRS is unable to verify your Social Security number or other identifying information, they may delay your tax return approval until they are able to confirm your identity.
Another common delay is related to taxpayer address issues. If the address listed on your tax return does not match the address on file with the IRS, your tax return approval may be delayed until the issue is resolved. Finally, incorrect payment amounts can also cause delays in tax return approval. If the amount you paid does not match the amount owed, the IRS may need to take additional time to review your return.
Reviewing Tips to Speed Up Tax Return Approval
Now that you understand the factors that can affect the amount of time it takes for your taxes to be approved, here are some tips to help you get your taxes approved as quickly as possible. First, make sure that all the information provided on your tax return is accurate. Double check all fields to ensure that everything is correct and that no errors have been made.
Next, consider filing your taxes electronically. Electronic filing is generally faster than filing by mail, as the IRS can process electronic returns more quickly. Additionally, you can request direct deposit when filing electronically, which can help speed up the process of receiving your refund. Lastly, make sure to keep copies of all your paperwork in case the IRS requests additional information.
Conclusion
Tax season can be a stressful time, especially when you’re waiting to hear back from the IRS on the status of your tax return. Understanding the timeline for tax return approvals, and what factors may affect the timeline, can help you prepare for the process. On average, it takes three to four weeks for the IRS to process electronically filed returns, and six to eight weeks for paper returns. However, this timeline can vary depending on the complexity of the return, accuracy of the information provided, and other factors. Additionally, you can take steps to speed up the approval process, such as filing electronically, requesting direct deposit, and double-checking all fields on the tax return.
Final Thoughts
Overall, understanding the timeline for tax return approval and following the tips outlined in this article can help you get your taxes approved as quickly as possible. Although tax season can be stressful, having a better understanding of the process can help make it a little less intimidating.
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