One of the most common questions taxpayers have is when exactly will they receive their tax refund. First, we need to remember that there are several aspects that will have an effect on when we receive our refund.
Also, it is important to keep in mind that the tax reform law that took effect in 2018 can also have an impact on this date. Lastly, if we are applying for the Earned Income Tax Credit (EITC) or the Child Tax Credit (CTC), we might see a slight delay on our 2020 tax refund.
As we mentioned above, there are several factors that can come into play when determining the date on which we will receive our tax refund. To begin with, the date on which we file our taxes will play an important role. Also, whether or not we are claiming certain credits can make the process last a bit longer.
Another reason that will determine our refund date is whether we file our tax electronically or by mail. Lastly, if we have existing debts to the federal government can also affect the date on which we receive our refund.
This is because the IRS will take more time to finish the process, depending on how many of the scenarios above apply to us. If we filed credits, they will make sure we are eligible to receive them. Sending our tax return by mail may sound like a safer idea, but the IRS will take longer to receive it and process it. And if we have existing debts, the IRS will try to determine the best way for us to settle such debt.
Another aspect we should keep in mind is that, during recent years, the start of the tax season has been delayed from January to early February. This is in part a result of significant changes and updates in different tax laws and regulations.
In addition, the IRS also delays the processing of our income tax returns when we file for the Earned Income Tax Credit or the Child Tax Credit. Both the EITC and CTC have often been misused and abused, so the IRS takes longer processing them in order to prove their validity.
Now, the most important factor that will help us know when we can expect our 2020 tax refund is the date on which we submit our tax returns. You can find a chart below with IRS Acceptance dates and expected refund dates. If the IRS accepts your tax return between the dates on the left, you can expect them to send a Direct Deposit or to send a check on the corresponding dates listed on the right.
1/20/20- 1/24/20 Friday 1/31/20
1/27/20- 1/31/ 20 Friday 2/7/20
2/3/20- 2/7/20 Friday 2/14/20
2/10/20- 2/14/20 Friday 2/21/20
2/17/20- 2/21/20 Friday 2/28/20
2/24/20- 2/28/20 Friday 3/6/20
3/2/20- 3/6/20 Friday 3/20/20
3/9/20- 3/13/20 Friday 3/27/20
3/16/20- 3/20/20 Friday 4/3/20
3/23/20- 3/27/20 Friday 4/10/20
3/29/20- 4/3/20 Friday 4/17/20
4/6/20- 4/10/20 Friday 4/24/20
4/13/20- 4/12/20 Friday 5/1/20
4/20/20- 4/24/20 Friday 5/8/20
4/27/20- 5/1/20 Friday 5/15/20
5/4/20- 5/8/20 Friday 5/22/20
5/11/20- 5/15/20 Friday 5/29/20
5/18/20- 5/22/20 Friday 6/5/20
5/25/20- 5/29/20 Friday 6/12/20
6/1/20- 6/5/20 Friday 6/19/20