Question: When Can I Expect My Refund 2020?

Will tax refunds be delayed in 2020?

Last year, Congress passed a law requiring the IRS to hold the refunds of all tax returns claiming these credits until February 15, 2020, regardless of when the returns were filed. Taxpayers who mail returns and choose to receive a paper check will receive refunds even later than this.

What day of the week does the IRS deposit refunds 2020?

In addition to regular processing times for banks, factoring in weekends, and the President’s Day holiday, the earliest EITC and ACTC-related refunds are expected to be available on or about February 28, 2020; that’s assuming direct deposit and no other issues.

Why are 2020 refunds taking so long?

Reason for Delay: You Claim Certain Credits

If you file early and claim the earned income tax credit (EITC) or the additional child tax credit (ACTC), you will have to wait a bit for a refund. According to the law, the IRS has to wait until Feb. 15 to issue a refund to taxpayers who claimed either of those credits.

When can I expect my refund?

The IRS states that nine out of 10 e-filed tax returns with direct deposit will be processed within 21 days of IRS e-file acceptance. Mailed paper returns: If you filed a paper return, please allow 4 weeks before checking the status. Refund processing time is 6 to 8 weeks from the date the IRS receives your tax return.

Does the IRS work on weekends 2020?

In addition to regular processing times for banks, factoring in weekends, and the President’s Day holiday, the earliest EITC and ACTC-related refunds are expected to be available on or about February 28, 2020; that’s assuming direct deposit and no other issues.

How long can the IRS hold your refund for review?

In an effort to combat this, the IRS is now going to hold some refunds until February 15, 2020. The goal here is to see if two tax returns are filed for the same individual. If you’re concerned you are a victim of identity theft, read our common IRS questions and answers here for more information.