Recovery Rebate Credit

[KHumor]

When completing my taxes this year on Turbo, the program claimed I was eligible for the third stimulus check based on my AGI and asked me to confirm that I did not receive the third stimulus payment, which I did not. However, it has now been 21 days since my federal return was accepted and my refund has not been approved or issued? Is this normal? Is it possible I didn’t actually qualify? I don’t want to be in trouble with the IRS.

[xmasbaby0]

The IRS did not begin to accept e-files until January 24, so it has not been 21 days.  And.....21 days is not a promise or guarantee.   Some returns take longer than others.

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 35a of your 2021 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...

[KHumor]

My return was submitted 1/17 and accepted on 1/21. 21 days was yesterday, as they indicated 21 days, not 21 business days. I use the IRS2Go app on my phone to track my refund. I already have received my state refund last week, which to get that before federal is highly unusual. I appreciate your answer, but it didn’t fully address my root concern, which is whether this is a usual situation and what would happen if Turbo Tax indicated that I was eligible, but I was not. 

[Affordabletaxes2021]

The IRS will review the return to verify whether you received it or not. That’s standard procedure. How long it will take is unknown at this point.

[fanfare]

All returns with an amount on Line 30 are kicked out for review by a human.

This is a big factor in the IRS backlog.

evidently the IRS computers cannot compare against your EIP credits, which are listed in your account transcript.

[Critter-3]

And the IRS did not start processing returns until 1/24  (even if you were accepted for processing in an early test batch)  so technically the 21st day is 2/14   AND  last year any return with the RRC on line 30 had to go thru the "human checking department"  which delayed things for weeks/months  but we hope for a faster turn around this year.   While you wait check your records ... did you get the third payment ... they started being deposited last March but it could have been anytime after that until 12/31. If you do find record of the deposit then the IRS will adjust your return accordingly.   

So just hang tight ... check the IRS site every few days for a progress report.    https://www.irs.gov/refunds

How quickly will I get my refund?

We issue most refunds in less than 21 calendar days. However, it’s possible your tax return may require additional review and take longer. Where’s My Refund? has the most up to date information available about your refund.

It is taking the IRS more than 21 days to issue refunds for some 2020 tax returns that require review including incorrect Recovery Rebate Credit amounts, or that used 2019 income to figure the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC).

I’m counting on my refund for something important. Can I expect to receive it in 21 days?

Many different factors can affect the timing of your refund after we receive your return. Even though we issue most refunds in less than 21 days, it’s possible your refund may take longer. Also, remember to take into consideration the time it takes for your financial institution to post the refund to your account or for you to receive it by mail.

It's been longer than 21 days since the IRS received my return and I haven’t gotten my refund. Why?

Some tax returns take longer to process than others for many reasons, including when a return:

• Includes errors, such as incorrect Recovery Rebate Credit
• Is incomplete
• Needs further review in general
• Is affected by identity theft or fraud
• Includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit. See Q&A below.
• Includes a Form 8379, Injured Spouse Allocation PDF, which could take up to 14 weeks to process

For the latest information on IRS refund processing during the COVID-19 pandemic, see the IRS Operations Status page.

We will contact you by mail when (or if) we need more information to process your return. If we’re still processing your return or correcting an error, neither Where’s My Refund? or our phone representatives will be able to provide you with your specific refund date. Please check Where’s My Refund? for updated information on your refund.