02/14/2020
Hello Taxpayers due a tax refund for 2020 . . .
The 2020 income tax season officially started on Monday, January 27, when the IRS started accepting tax returns. Despite the stereotype of people hating doing their taxes, for millions of taxpayers, tax season means getting a refund. But there's no reason to get a refund loan or similar services, which often include steep fees, since most taxpayers can get their 2020 income tax refund via direct deposit from the IRS in as little as 10-15 days if they file early.
The main factors that determine when a taxpayer may receive their return include:
How early they file
If the taxpayer is claiming certain credits (especially EITC and CTC)
Whether the return is e-filed or sent by mail
Whether the taxpayer has existing debts to the federal government
The IRS will once again delay processing by 2-3 weeks tax returns that claim the Earned Income Tax Credit (EITC) or Child Tax Credit (CTC), since these credits are the most abused. The additional time allows the IRS to verify that taxpayers qualify for the credits.
The below chart shows an estimated timeline for when a taxpayer is likely to receive their refund, based on the information we have now, and using projections based on previous years. If your IRS income tax refund is delayed, ask your tax professional, or simply use the "Where's My Refund?" tool on the IRS website. Or download the IRS2Go app to check your refund status.
The below dates are only an estimate.
"When Will I Get My 2020 Income Tax Refund?"
IRS Accepts Return By: Direct Deposit Sent (Or Paper Check Mailed one week later):
Jan. 27, 2020 Feb. 7, 2020 (Feb. 14, 2020)
Feb. 3
Feb. 14 (Feb 21)
Feb. 10
Feb. 21 (Feb 28)
Feb. 18 (President's Day is a holiday)
Feb. 28 (Mar. 6)
Feb. 24
Mar. 6 (Mar 13)
Mar. 2
Mar. 13 (Mar. 20)
Mar. 9
Mar. 20 (Mar. 27)
Mar. 16
Mar. 27 (Apr. 3)
Mar. 23
Apr. 3 (Apr. 10)
** = Returns with EITC or CTC may have refunds delayed until late February to verify credits.
*** = Filing during peak season can result in slightly longer waits.