|As a reminder, the PATH Act mandates that the IRS not issue a refund on tax returns containing any portion of a Earned Income and/or Child Tax credit until mid-February or later, depending on the opening day of e-File. The additional time helps the IRS stop fraudulent refunds from being issued to identity thieves and fraudulent claims with fabricated wages and withholdings.
Good News! While the IRS states that for 2023, many of these taxpayers can expect their refund “by February 28, (provided certain criteria is met)”, we have reached out to our banking partners who report that aside from some smaller amounts of initial funding this past week, a large amount of PATH Funding has been received and is in process of being released beginning today via selected disbursement method (e.g. card, check print, direct deposit). Our banking partners anticipate another large round of funding to arrive next week.
Important! This timeframe can vary between banking partners and the chosen disbursement method and remember, not all taxpayers claiming EIC or CTC credits will be getting their funding right away. ACH deposits can take from 1-4 days to arrive in the taxpayers account.
For specific details and updates, be sure to watch for any direct communications from your selected banking partner and don’t forget that the IRS “Where’s My Refund” tool remains the preferred method to check your client’s refund status. Refer to the still applicable IRS Tax Tip below.
IRS Tax Tip 2022-26 | Español
PATH Funding – Check the Status of a Refund in Just a Few Clicks using the Where’s My Refund
Tracking the status of a tax refund is easy with the Where’s My Refund? tool. It’s available anytime on IRS.gov or through the IRS2Go App.
Taxpayers can start checking their refund status within 24 hours after an e-filed return is received.
Where’s My Refund provides a personalized date after the return is processed and a refund is approved. While most tax refunds are issued within 21 days, some may take longer if the return requires additional review.
Here are a few reasons a tax refund may take longer:
- The return may include errors or be incomplete.
- The return could be affected by identity theft or fraud.
- Many banks do not process payments on weekends or holidays.
The IRS will contact taxpayers by mail if more information is needed to process their tax return.
Taxpayers who claimed the earned income tax credit or the additional child tax credit, can expect to get their refund March 1 if:
- They file their return online
- They choose to get their refund by direct deposit
- The IRS found no issues with their return
Fast and Easy Refund Updates
Taxpayers can start checking on the status of their return within 24 hours after the IRS acknowledges receipt of an electronically filed return or four weeks after the taxpayer mails a paper return. The tool’s tracker displays progress in three phases:
- Return received
- Refund approved
- Refund sent
To use Where’s My Refund?, taxpayers must enter their Social Security number or Individual Taxpayer Identification Number, their filing status and the exact whole dollar amount of their refund. The IRS updates the tool once a day, usually overnight, so there’s no need to check more often.
Calling the IRS won’t speed up a tax refund. The information available on Where’s My Refund? is the same information available to IRS phone assistors.
Resources and Questions:
The above information, along with the Where’s My Refund tool, are also easily accessible from your uTax Resource Center > Industry Links page.
If you have any questions about this information, please contact the uTax Partner Support Team at 206-209-2653 or email us at email@example.com or contact your Banking Partner.
Your uTax Team