Tax season is always a stressful time for many people, as filing taxes can be a complicated, time-consuming process. One of the most common questions for those filing taxes is, “How long does it take to get a tax return?” Understanding the timeline for filing taxes and processing a return can help you plan and manage your expectations.
Understanding Tax Return Timelines
When it comes to filing taxes, the timeline is largely dependent on the type of filing you are doing. For those who are filing electronically, the timeline can be much shorter than those who are filing by mail. Additionally, the timeline can also be impacted by the time of year, as the Internal Revenue Service (IRS) is typically busiest at the beginning of the year.
The IRS typically begins accepting electronically filed returns in late January, and those who are filing by mail can expect to wait a few weeks after that before the IRS begins processing them. Once the IRS has accepted a return, the timeline for receiving a refund can vary, and can take anywhere from a few weeks to several months.
Determining Your Tax Refund Timeline
When determining the timeline for your tax return, it’s important to consider the type of filing you are doing. If you are filing electronically, you can likely expect a faster turnaround time than if you are filing by mail. Additionally, the type of return you are filing may also impact the timeline. For example, if you are filing an amended return, it can take up to 16 weeks to process.
It’s also important to note that if you are expecting your refund to be deposited into your bank account, you may need to wait an additional 3-5 business days for the deposit to appear.
Overall, the timeline for filing taxes and receiving a return can vary, and is largely dependent on the type of filing you are doing and the time of year. It’s important to plan ahead and understand the timeline for filing and processing your taxes in order to manage your expectations.