2020 refund status, 10 weeks and counting

[ff8mania]

Hi everybody,

I think it is a common topic, but now I start being very concerned.

I filed my tax return on 3/8, and after a couple of weeks, I received my state return, but I'm still waiting for my federal.

The IRS tool says, "Your tax return is still being processed." for weeks now.
I understand that there is a big backlog, but at this point, how do I know that eventually I'm gonna get my money? Who can reassure me that this situation will not stay like this forever?

Last 5 years, I got my refund in less than 2 weeks in my bank account...

I'm very concerned. From what I can tell, I know another couple of people in the same situation (even worse, they filed a couple of weeks earlier).

Thanks,

[xmasbaby0 · Accepted solution]

https://www.msn.com/en-us/money/personalfinance/where-is-my-damn-irs-tax-refund-new-answers-emerge-a...

TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer.  “21 days”  is not a promise from TurboTax or the IRS.   Many refunds are taking longer during the pandemic.  The IRS is backlogged —-they are still trying to process millions of 2019 returns; they received millions of e-filed on the day they opened for 2020 returns, and now they are burdened with sending out another round of stimulus checks.   

Some delays are resulting from incorrect amounts that folks entered for stimulus checks they received.   Many people have been confused by the recovery rebate credit and completed it incorrectly.  The IRS may delay your refund while they cross-check to see what you received.  Some refunds are delayed because of the tax law changes that went into effect recently.   If your return has unemployment or the premium tax credit on it, that may be delaying it.

First, check your e-file status to see if your return was accepted: 

https://turbotax.intuit.com/tax-tools/efile-status-lookup/

Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.

You need your filing status, your Social Security number and the exact amount  (line 34of your 2020 Form 1040) of your federal refund to track your Federal refund:   

https://www.irs.gov/refunds

To track your state refund:    

https://ttlc.intuit.com/questions/1899433-how-do-i-track-my-state-refund

https://ttlc.intuit.com/questions/1901548-why-do-some-refunds-take-longer-than-others

If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing.

https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions

https://ttlc.intuit.com/questions/2840013-does-accepted-mean-my-refund-is-approved

https://ttlc.intuit.com/questions/2724106-my-return-is-accepted-but-still-not-approved-is-there-a-pr...

[ff8mania]

Thanks for the very exhaustive answer.

I have just one doubt about your answer: "...stimulus checks they received.   Many people have been confused by the recovery rebate credit and completed it incorrectly..."

In my return, I put just the amount(s) I received from the IRS, looking into my bank account...so I think they are the correct amounts: the IRS owed me nothing more, as expected.

I know TurboTax cannot do anything more than that, but I'd like to understand how late it can be. I just don't want to discover that the IRS can delay it as much as they want. At the end of the day, that's are my money...

[SweetieJean]

The IRS can indeed take as long as it wants (or needs) to issue refunds.  But it must pay you interest after a certain point.  Going forward, consider changing your withholding so that you do not have to wait for a refund at tax time.

[ff8mania]

I see. 

I thought about changing my withholding, but I like (or used to like) this way since it is like having a bonus 🙂

I've been doing this for years and, other than 2020, it has worked well for me.

Regarding "it must pay you interest after a certain point", how do I know when it is this "certain point"?

Thanks a lot

[Beanie6970]

[email address removed]

[DaraLO]

@Beanie6970 Is there a particular issue you're experiencing that we can assist you with?