So you just filed your taxes and you’re one of the lucky ones this year. The government owes you money instead of the other way around. Congratulations.
The average 2018 refund so far this year, according to the IRS, is $2,864. And odds are you’re eager to see that tax refund appear in your bank account. So when will you get your tax refund?
The good news is it might not take as long as you would expect.
Some 90% of refunds are issued within three weeks of the day the return is filed. And if you’re wondering where yours stands (and don’t want to bother your tax preparer), the IRS has a tool that can help you track its progress.
The Where’s My Refund? Tool lets users check the status of their tax refund, with information updated daily. You’ll need to provide your Social Security number as well as the exact amount of your expected refund.
Of course, there are potential hurdles. If the IRS finds mistakes in your tax form, that will slow down your rebate, and, should you be targeted for an audit, that could delay things as well. Breath a little easier on that last threat, though. Your chances of an IRS tax audit in 2018 are the lowest in 15 years, as the branch has lost close to one-third of its enforcement staff since 2010.