Tax season is underway, and the IRS expects 140 million people will file returns by April 15
NEW YORK — Tax season is underway, and the IRS expects 140 million people will file returns by April 15. The agency has also debuted a new online tool to help taxpayers check the status of any refund they may be entitled to.
President Donald Trump this week offered all federal employees a buyout package in an effort to reduce the size of the government workforce, which could impact IRS staffing at an important period for the agency, though it's not yet clear how. The IRS did not immediately respond to a request for comment.
Here's what to know:
If you file your tax return electronically, the IRS says it should take 21 days or less to receive your refund. If you choose to receive your refund with direct deposit, it should take even less time. If you file a paper return, the refund could take four weeks or more, and if your return requires amendments or corrections, it could take longer.
The IRS cautions taxpayers not to rely on receiving a refund by a certain date, especially when making major purchases or paying bills.
Taxpayers can use the online tool Where’s My Refund? to check the status of their income tax refund within 24 hours of e-filing and generally within four weeks of filing a paper return.
Information related to this tool is updated once daily, overnight. To access the status of your refund, you'll need:
— Your Social Security or individual taxpayer ID number (ITIN)
— Your filing status
— The refund amount calculated on your return
If you paid more through the year than you owe in tax, due to withholding or other reasons, you should get money back. Even if you didn’t pay excess tax, you may still get a refund if you
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