The IRS has issued 70 million tax refunds already this tax season. Get yours faster.
As of April 1, more than 70 million taxpayers have gotten refunds, averaging $3,175, on their 2021 tax returns. If you file your tax return electronically, choose direct deposit and don’t make any mistakes, you could get your refund in 21 days or less. If you file on paper, you’re stuck in line behind folks who filed on paper last year and are still waiting for those refunds.Reconcile advance child tax credit and stimulus payments.
If you got advance Child Tax Credit payments in the second half of 2021, make sure you enter the amount correctly on your return. Incorrect entries when reporting these payments mean the IRS will need to further review the tax return, creating an extensive delay, the IRS warns. Same for the third stimulus payment, including any true-up payments.
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