IRS Secrets About Tax Refunds
You may think you know everything about filing with the IRS, but there are a few secrets you may not know.
When Are Refunds Sent?
If you’re wondering when to check for your money from your federal refund status in the mail, you should know when the IRS will send it. Generally, any paper checks issued are sent on Fridays. A truck (or two) arrives at the federal IRS building and picks all the checks issued that week. So, unless there was some special circumstance with your federal refund status, it will be sent out on Friday.
You should allow up to 5 business days after it’s been issued for delivery. If you’ve recently checked your IRS refund status and know it will be sent on Friday, wait until the following Friday before you call to ask where it is.
This goes the same for money from your IRS refund issued by direct deposit. Amounts are generally deposited to your account on Fridays. There might be a delay, though. Give your bank until the following Tuesday to deposit the money. If it still hasn’t gone through, check your federal refund status again. It may not have gone through yet at the IRS.
IRS Refund Cycle Chart
If you’d like more detailed information on your IRS refund status, check the IRS Refund Cycle Chart. It will tell you when your money will be issued based on when your return was received.
For example, say you sent your tax return in between January 20th and January 27th. You should expect a direct deposit on February 4th. A paper check would be issued a week later, February 11th.
The chart includes late filings as well. Of course, these dates are “ideal.” That means there might be unexpected delays. Always check your IRS refund status if you’re worried about your money.
Change of Address
It’s easy to notify the IRS of a change of address when you file. But what if you move after you send in your return? You might be worried that your IRS refund status will change.
Of course, if you checked on your federal refund status for the IRS to direct deposit your refund, there’s no need to worry. However, paper checks might encounter a problem. You can notify the IRS through the mail, on the phone, or online.
If you’re going through the mail, use Form 8822. You should be able to find it where you got your tax forms, like the library. If you used tax software, they may have an option for you to check. You can also recheck your IRS refund status at the IRS website.
Make sure to include your Social Security Number on all correspondence with the IRS. Also, after changing your address with the IRS, talk to your local post office. They can help make sure your check from your federal refund is sent to your new address.