If you’ve already filed your tax return, you’re probably eagerly waiting for your refund to hit your bank account. The big question many taxpayers have is: What time does the IRS deposit refunds?
While the exact date depends on various factors, the deposit timing follows a predictable pattern. Let’s break down how tax refunds work, when you can expect your money, and how to track your refund status.
Table of Contents
Deposit
The IRS typically deposits refunds between midnight and 1 a.m. This means that if your refund is processed on a particular night, you might see the money reflected in your bank account shortly after. However, just because the IRS sends the deposit doesn’t mean it will show up instantly in your account.
Bank Processing Time
Each bank has its own processing policies. Some financial institutions post deposits immediately, while others may take up to five business days to make the funds available. Most major banks, however, release the funds the same day the IRS sends them.
Refund
Your tax refund is essentially money that the IRS owes you if you overpaid your taxes throughout the year. If you withheld more from your paycheck than necessary or qualify for refundable tax credits (like the Earned Income Tax Credit or Child Tax Credit), you’ll receive a refund.
If you haven’t filed yet, remember that you have up to three years from the due date to submit your return and still claim a refund. After that, the IRS keeps the money!
Timing
How long does it take to get your refund? It depends on how you filed:
| Filing Method | Estimated Refund Time |
|---|---|
| E-file with direct deposit | Up to 21 days |
| Paper return by mail | 4+ weeks |
| Amended return | 16+ weeks |
The IRS processes electronically filed (e-file) returns the fastest, usually within 21 days. However, if you mailed a paper return, expect to wait at least four weeks or more.
If you claimed certain credits (EITC or Child Tax Credit), expect additional processing time due to IRS fraud prevention measures.
Tracking
Wondering exactly when you’ll get your refund? The IRS has a tool called “Where’s My Refund?” that lets you track its status.
Here’s how it works:
- If you filed electronically, you can check your status 48 hours after submission.
- If you mailed a paper return, wait at least three weeks before checking.
- If you amended a return, processing could take up to 16 weeks.
To check your refund, visit the IRS website and use the “Where’s My Refund?” tool. Just enter your Social Security number, filing status, and refund amount to get an update.
Getting a tax refund is always exciting, but patience is key. If the IRS has already sent your deposit, it’s just a matter of waiting for your bank to process it. Keep an eye on your account, and happy refund season!
FAQs
What time does the IRS deposit refunds?
The IRS usually deposits refunds between midnight and 1 a.m.
How long does a direct deposit refund take?
E-filed refunds with direct deposit usually arrive within 21 days.
Why is my tax refund delayed?
Delays may be due to errors, paper returns, or additional IRS reviews.
Can I track my tax refund?
Yes, use the IRS “Where’s My Refund?” tool to check your status.
Do banks hold IRS deposits?
Some banks may take up to five business days to release funds.
