Although most taxpayers in the United States should get their stimulus check tax refunds within 21 days after submitting their returns, two groups have had extended wait times: those who claim the Child Tax Credit stimulus check or the Earned Income Tax Credit stimulus check on their yearly returns.
These filers are encountering delays as a result of legislation intended to prevent fraud involving those important tax credits, such as by screening for fraudsters attempting to claim someone else’s return. Individuals who filed early in the tax season — on January 24 — and claimed either of those two tax credits are expected to get refund checks on March 1, according to the IRS.
File Correctly To Get Your Stimulus Check Without Delay
However, the IRS stressed that the March deadline applies only to taxpayers who fulfill three additional requirements: filing electronically, choosing direct deposit for their refund, and not being flagged by the IRS as faulting their returns. Even if they filed online, taxpayers claiming one or both of the above tax credits who want paper checks may have to wait an additional few days for the money to arrive in the mail. Even with direct deposit, a refund check might take a day or two to clear and arrive in a personal bank account.
The Child Tax Credit (CTC) is claimed by about 30 million households, while the Earned Income Tax Credit is claimed by roughly 25 million persons. Every year, three out of every four taxpayers receive refund checks, which represent a significant windfall that families rely on to pay bills, save, or pay down debt. Given the large backlog of returns at the IRS and difficulty in processing last year’s tax returns, as well as changes to the tax code that might affect refunds, customers are concerned about the timing and quantity of refunds this year.