Wondering when your refund check is going to come from Uncle Sam? Wonder no more!
Read more: Top 5 tax refund myths debunked
Here’s when you’ll likely get your money…
Selena Maranjian over at the Motley Fool offers the following chart that has the best educated guess as to when your refund will be available.
Just keep in mind that this chart is no way binding or guaranteed in any way!
As you can see, several factors come into play — if you e-filed or not, if you have direct deposit or not and so on — to determine when your money is likely to show up.
Here are 4 things should know about your tax refund this year
21 days is a ‘normal’ wait time for your refund
Less than 21 days after a tax return is received by the IRS, there’s a more than 90% that a refund will be issued. Twenty-one days is what the IRS defines as a normal timeframe for turnaround of a return.
Claiming certain tax credits will delay your refund
Tax refunds likely to take a bit longer than 21 days are those involving the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). If you claim either credit, there’s a law on the books that requires the IRS to hold the entire refund until Feb. 15.
Assuming there’s no other holdup with your return, you can then expect the funds to make their way to you during the week of Feb. 27. That lag time allows for President’s Day (Feb. 20), a federal holiday during which no business is transacted.
You can use the Where’s My Refund tool to track your refund
Refund status is updated once a day, typically during the overnight hours.
A tax transcript won’t show the anticipated date of your refund
The purpose of a tax transcript is to ‘validate past income and tax filing status for mortgage, student and small business loan applications [or] to help with tax preparation.’
Tax transcripts don’t always show the amount or the anticipated date of a refund.