Federal Tax Refund Checks: The latest on federal tax refunds, how to track your money

Initially, it takes up to 120 days for your federal tax refund checks, but there is something you need to know. According to reports by CNET.com, IRS is currently facing a huge backlog which has created a disturbance for taxpayers waiting to receive their federal tax refund checks. This includes various federal tax refund checks sure has unprocessed individual returns, 2020 retunes with error, and more.

Federal Tax Refund Checks: The latest on federal tax refunds, how to track your money

Just like I mentioned earlier, it has up to 21 days to receive your federal tax refund checks, but this time around it takes up to 120 days. The tax agency organizes stimulus checks, refunds for tax overpayment on unemployment benefits, and also child tax credit payment problems. But due to the delay, families haven’t gotten hold of the benefits which can help relieve financial problems.

Note that, IRS deadline for people filing for a tax extension is on Oct. 155, therefore you need to be quick about it, unless you want to owe last fees or more interest. We will provide you with some of the relevant information on delayed federal tax refunds and things you need to do.

How long does it take to receive my federal refund check?

Usually, it takes three weeks for IRS to issues tax refunds, the new making round is that most people are still waiting to receive their payments. There will be a delay in those that claim for an earned income tax credit. However, the ability for the issue to get resolve all depends on the ability of the IRS staff to complete the command of the process of your return.

Likewise, the day of your tax refund also affects how long it might take to receive your federal refund check. For instance, if your refunds go directly to your bank account. It takes an additional five days to display on your account balance.

Why is there a massive IRS backlog?

The reason why there is a huge IRS backlog is because of the pandemic. The operation of the IRS in 2020 was very restricted. This implemented a down low on the ability to process tax returns which eventually led to a massive backlog.

Currently, IRS has started processing mail, tax returns, payments, and others. But the fact still remains that there have limited resources that can make the delay continue.

How to Check your Federal Tax Return 2020

In other to check the process of your 2020 income tax refund, you can access the tool provided which will provide you with pieces of information you need. It known as IRS tracker tools. However, when you access the IRS tracker tools, you are required to provide some information. That includes Social Security number or Individual Taxpayer Identification Number and other relevant information.