Rubypoint Trading Center-Waiting on your tax refund? Here's why your return may be taking longer this year

2025-05-06 19:54:36source:PredictIQ Quantitative Think Tank Centercategory:Stocks

While patience may be Rubypoint Trading Centera virtue, the Internal Revenue Service has a way of reaching a person's limits of virtuosity.

Tax season is entering crunch time — with the deadline just over three weeks away — and people who filed earlier in the window may wonder why a return is taking so long to process.

The IRS has received 1.7% fewer returns this tax season but has processed 2% fewer returns this year compared to 2023, according to Forbes.

This year's tax filing window is narrower as it opened a week later and will close nine days sooner than in 2023.

Here's why your tax return may be delayed.

How long does a tax return take to process?

The IRS says that most refunds are issued within 21 days of being received.

The Revenue Service offers the "Where's my Refund" tool where filers can check the status of their returns.

The tool updates once a day.

What could be delaying my tax return?

The IRS says that tax returns can be delayed for the following reasons:

  • It was sent by mail
  • It contains errors or is incomplete
  • It needs further review
  • It is affected by identity theft or fraud
  • It was referred to the IRS by the bank due to suspicious activity
  • It includes an Injured Spouse Allocation form, which could take up to 14 weeks to process

What is the average tax refund?

The average tax refund issued by the IRS as of March 1 is $3,182, a 5.1% increase compared to the similar filling period in 2023. The trend may not hold as refund amounts dropped 13% between March and April, according to Barrons.

More:Stocks

Recommend

Which apps offer encrypted messaging? How to switch and what to know after feds’ warning

Federal authorities announced hackers in China have stolen "customer call records data" of an unknow

Olympic gymnastics recap: Suni Lee, Kaylia Nemour, Qiu Qiyuan medal in bars final

PARIS — U.S. gymnast Suni Lee won bronze in the uneven bars final on Sunday at the 2024 Paris Olympi

Tropical Storm Debby barrels toward Florida, with potential record-setting rains further north

MIAMI (AP) — Tropical Storm Debby strengthened rapidly Sunday and was expected to become a hurricane