Tax Refunds Delayed 2022: How to get your Refund faster?
There are still many people in the United States who are awaiting their tax refund, but the Internal Revenue Service (IRS) have admitted that the delays are down to worker shortages and a backlog of returns that have not yet been processed.
IRS commissioner Chuck Rettig stated on Thursday, April 7, that the COVID-19 pandemic is continuing to affect the speed at which tax refunds are going out, as well as several tax changes this year as a result of the federal relief measures.
“The IRS is serving more people and entities in a global environment than ever before while handling new and bigger responsibilities,” said Rettig.
“At the same time, we have experienced delays in updating our IT systems, which means the IRS and taxpayers must continue to use certain paper-based processes.”
Where is my tax refund?
While more than 63 million refunds have gone out for a combined 204 billion dollars, with this coming from a total of 89 million returns, there are still roughly 2.7 million paper returns from 2021 and 2.3 million returns from 2022 that are still awaiting to be processed. In a typical year, this figure would be closer to a million.
The average tax refund payment this year so far stands at 3,352 dollars, which is an increase on last year’s average of 2,800 dollars, although this might not be the case by the deadline on April 18.
How can I get my tax refund quicker?
One way of speeding up the time it takes to get your tax refund is by filing your taxes electronically and having the money arrive via direct deposit. Also, the sooner that you decide to file your taxes, the less time you are going to have to wait for the refund to land in your account.
Typically, this money should arrive within 21 days of your taxes being filed if you did so electronically and have opted to receive the tax refund by direct deposit. You can track the process of your tax refund using the IRS’ Where’s My Refund tool.