Tax Tips: Extension, Credits, and Tracking Your Refund

Ferrone & Associates CPAsBlog

Taxpayers with an extension can file when they are ready but most should file by October 17, 2022. Special deadline exceptions may apply for some disaster victimscertain military service members and eligible support personnel in combat zones.

Reconciling advance child tax credit or claiming recovery rebate credit
People who need to reconcile advance child tax credit payments or claim the recovery rebate credit will need additional information about 2021 payments to file an accurate tax return and avoid a processing delay.

These individuals must have the total amounts of advance child tax credit payments to receive the remainder of their child tax credit and the amount of their third round Economic Impact Payment to claim a recovery rebate credit. Taxpayers should check their online account or review Letter 6419, 2021 Total Advance Child Tax Credit Payments, and Letter 6475, Your 2021 Economic Impact Payment, for their total payment amounts. This will help them file an accurate return. Married spouses who received joint payments will need to log into their own online account or review their own letter for their portion of the total payment. If filing a 2021 return as married filing jointly, they should add the payments together to provide the total amount.

Where’s My Refund?
Taxpayers can check the status of their refund within 24 hours after the IRS has received their e-filed return. Once the IRS approves a refund, Where’s My Refund? will give will give the taxpayer a date to expect it.

The IRS updates this tool once a day, usually overnight, so there’s no need to check the status more often. Agency employees can only research a taxpayer’s refund status 21 days after the taxpayer filed electronically or if Where’s My Refund? directs the taxpayer to call the IRS.

The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process.

Things that can delay a refund: