The Internal Revenue Service began taking tax returns for the year 2020 on January 24, and most taxpayers have until April 18, 2022, to file their papers.
You’ll be able to monitor the status of your 2021 tax return either 24 hours after it’s been submitted or four weeks after it’s been submitted online using the IRS’s “Where’s My Refund?” website, depending on the mode by which it was submitted.
More than 90 percent of refunds, according to the IRS, are issued within 21 days, which is the agency’s standard turnaround time.
Particularly in light of the changes made to various credits for the fiscal year 2021, there is always the risk that some tax returns may require additional assessment, which will result in a delay in your tax refund. How do you interpret the appearance of Topic No. 152 when checking on the status of your refund?
According to the IRS, tax refunds for 2022 will take longer to process.
This tax season, like the last one, will be difficult as the Internal Revenue Service struggles with a historic backlog of almost 24 million individual and company 2020 tax files that were filed last year and have not yet been processed.
The vast majority of taxpayers who submitted their tax returns early and electronically this year should expect to receive their refund by the first of March, with some receiving their refund even sooner.
In the case of filers who claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), they can receive their refund by the first of March if their 2021 tax return was properly submitted.
Until the middle of February, the agency will not be able to begin issuing refunds on submissions that claim any of the credits. This is due to a federal law that compels the Internal Revenue Service to verify the details of taxpayers who claim them in order to avoid fraudulent activity.
When will I be able to check on the status of my tax refund?
Those who file electronically can check their refund status by visiting the IRS “Where’s My Refund?” online service within 24 hours of submitting their 2021 tax return.
After filing your 2021 tax return to the IRS, you can monitor the status of your paperwork using the web tool four weeks after mailing your paperwork.
You will be notified if there is a need to contact the agency regarding your tax return or refund when you use the online tool. The Internal Revenue Service will never phone you, nor will they communicate with you via email or social media.
It is necessary to let the IRS at least 21 days process your filing after you have submitted it electronically before you can inquire about your refund status.
Anyone who submits a paper return must allow the IRS at least six weeks from the date your paperwork was received before an IRS representative can conduct an investigation into your situation.
The Internal Revenue Service warns that it is taking longer than usual to process refunds for those who have claimed the Recovery Rebate Credit, Earned Income Tax Credit, and Additional Child Tax Credit.
In some circumstances, reimbursements can take up to 120 days to process. The Internal Revenue Service recommends that you do not file a second tax return and instead wait until you receive your refund before completing an amended tax return using Form 1040-X.
What exactly is Tax Topic Number 152?
It’s merely a generic reference code when you look up Tax Topic 152 in the IRS’s “Where’s My Refund?” web tool and see it listed there. Currently, your return is being processed and it has not yet been authorized or refused.
It is not necessary to take any further action in this case as it does not imply that you made a mistake or did anything unlawful with your file, as is the case with other codes. However, your return may require additional examination, which could result in a processing time that is greater than the standard processing time.