As tax season begins, the IRS anticipates around 140 million individuals will file their tax returns by the April 15 deadline. The agency has introduced a new online tool allowing taxpayers to track the status of their refunds, which can be received within 21 days if filed electronically, or longer for paper returns. Notably, President Trump's buyout offer to federal workers could affect IRS staffing levels during this crucial period. Taxpayers are advised to avoid relying on specific refund dates for financial planning, given possible delays.
Tax season is underway, and the IRS expects 140 million people will file returns by April 15, encouraged by new online tools for tracking refunds.
Refund timelines vary: e-filed returns take 21 days or less, while paper returns can take four weeks or longer, especially for amendments.
To check your refund status, use the IRS online tool, which requires your Social Security number, filing status, and refund amount.
Taxpayers should not expect refunds by a certain date, as unforeseen delays can complicate payment plans for significant purchases.
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