Whether you submitted your 2021 tax return early online, selected direct deposit into your bank account, and the IRS determined that there were no “problems” with your return, check your bank account to see if you have a refund waiting to be credited to it. According to a news release issued by the Internal Revenue Service on February 24, 2022, titled “Tax Time Guide: Use the ‘Where’s My Refund?’ Tool or IRS2Go App To Conveniently Check Tax Refund Status.”
It is expected that your refund would arrive around March 1 if you filed early yet claimed the Earned Income Tax Credit or the Additional Child Tax Credit.
If you have checked your bank account but are still unsure where your return is, there are two IRS websites that may assist you: Where’s My Refund? and Where’s My Refund? as well as IRS2Go
Information about Tax Refunds
Go to the Where’s My Return? website on IRS.gov to find out more about your refund and where it is now located. You’ll need your Social Security number or ITIN (Individual Taxpayer Identification Number), as well as your filing status (single, married filing jointly, head of household, etc.), as well as the precise amount of your tax return to complete the process.
Once you’ve entered your information online, you’ll be able to track the progress of your refund (return received, refund approved, refund sent). According to the Internal Revenue Service, “If you submitted a full and correct tax return, your refund should be delivered within 21 days after the day your return was received.” Processing, on the other hand, may take longer under certain situations.”
IRS2Go is the official mobile application of the Internal Revenue Service. You may use the app to check on the progress of a tax refund that you have applied for. (If you need to make a payment, you may do so using the IRS Direct Pay feature in the application.)
EITC and ACTC are two types of tax credits.
The Earned Income Tax Credit (EITC) is a federal tax credit that is intended to offer a tax reduction to individuals who earn only a low or modest income. You may use the EITC Assistant at IRS.gov to discover whether you are eligible for it and determine if you are.
According to the IRS, the Additional Child Tax Credit is “a credit you may be eligible to claim if you are not able to claim the entire amount of the [Child Tax Credit],” which means that you may not be able to claim the whole amount of the Child Tax Credit.
Normally do not file a tax return with the IRS?
Another important reminder:
- If you don’t normally have to file a tax return, but you have children, you must file in order to be eligible for child-related tax credits such as the Child Tax Credit and the Child and Dependent Care Credit.
- If you don’t normally have to file a tax return, but you have children, you must file in order to be eligible for the Child Tax Credit and the Child and Dependent Care Credit.
- The Kid Tax Credit enables a taxpayer to receive up to $3,600 for each child under the age of five, and $3,000 for each child between the ages of six and seventeen (ages are determined at the end of 2021).
- No income is required to claim the credit, but the qualifying kid must have a Social Security number in order to be eligible for the credit.
According to the Child and Dependent Care Credit, a taxpayer can claim a credit of up to $4,000 for one qualifying person, and up to $8,000 for two or more qualifying people, based on qualifying expenses for child or dependent care incurred while the taxpayer was employed or actively seeking employment during the year. For further information, see IRS Publication 503.
Need Assistance With Your Tax Returns?
The Internal Revenue Service (IRS) provides two key services to assist taxpayers in submitting proper tax returns.
In addition to providing critical information on tax changes and how they effect taxpayers, Publication 17, “Your Federal Income Tax For Individuals,” a 140-page reference including explanations and examples for 2021 tax returns, is available for download on the IRS website.