US Tax refund calendar 2024: How soon can Americans expect their refund and other tips
The tax refund calendar 2024 is out and it will help you estimate when to expect your refunds.
There's no rushing such an official undertaking. However, it's quite likely that you may want to cut short the initial 21 days of wait to receive the refund after filing for it.
The new Internal Revenue Service's (IRS) tax refund calendar 2024 has been updated by CPA Practice Advisor, a management resource for tax professionals. By making some modifications to the way you're filing for the income tax refund, you can expect a two week drop in the expected time frame.
Isaac M. O'Bannon, CPA Practice Advisor's managing editor further confirmed in his report to Yahoo Finance that receiving a refund becomes quicker once you file online instead of on paper. The processing time is cut down significantly when doing so. Despite it all, filers looking for the earned income tax credit (EITC) or child tax credit (CTC) will still have to wait longer. As per what the law dictates, IRS has confirmed that taxpayers' bank accounts will receive these refunds only around February 27.
Here's the tax refund 2024 cycle.
Estimated US Tax Refund Calendar 2024
| If Filed By | Direct Deposit | Paper Check |
| January 29 | February 9* | February 16* |
| February 5 | February 16* | February 23* |
| February 12 | February 23* | March 1* |
| February 19 | March 1* | March 8* |
| February 26 | March 8 | March 15 |
| March 4 | March 15 | March 22 |
| March 11 | March 22 | March 29 |
| March 18 | March 29 | April 5 |
| March 25 | April 5** | April 12** |
| April 1 | April 12** | April 19** |
| April 8 | April 19** | April 26** |
| April 15 | April 26 | May 3 |
| April 22 | May 3 | May 10 |
| April 29 | May 10 | May 17 |
| May 6 | May 17 | May 24 |
| May 13 | May 24 | May 31 |
| May 20 | May 31 | June 7 |
* = Returns with EITC or CTC may face refund delays until March due to further verification.
** = Expect longer waits since filing during peak season (late March - April 15)
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How will using direct deposit help you?
The basic essential is to file early if you're waiting for your refund to hit the bank soon. Using direct deposit will prevent further delays.
Paper returns and paper checks take longer by default. On the contrary, through the other method, your refund will get deposited to a bank account, prepaid debit card or mobile app. To facilitate this method, you should have a routing and account number.
Make sure to avoid any errors while filing. Additional mistakes or unaccounted for details listed therein will lead to more delays as your documents will be pushed for extra reviews.
Keep your income records handy. Form 1095 may also required if you're getting your coverage via health insurance marketplace. If the IRS issued you an Identity Protection Personal Identification number, you'll need that too.
While tax professionals are the default go-to options to assist you prep your tax checklist of necessary documents, there are other options as well. IRS Free File Program or Volunteer Income Tax Assistance (VITA) are some affordable options that can help you file your taxes.
