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Schedule of 2024 Tax Refunds: When to Expect Your Refund and Additional Tips; Tax Refund Calendar 2024

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3 years ago

February 5, 2024

Schedule of 2024 Tax Refunds When to Expect Your Refund and Additional Tips; Tax Refund Calendar 2024

Such an official initiative should not be hurried. It’s possible, though, that you would like to skip the first 21 days of waiting for your refund after filing for it.

CPA Practice Advisor, a management resource for tax professionals, has updated the new Internal Revenue Service (IRS) tax refund calendar for 2024. Expect a two-week reduction in the expected time frame if you make some changes to the way you’re filing for your income tax refund.

Managing editor of CPA Practice Advisor Isaac M. O’Bannon further verified that filing online expedites the refund process compared to paper filing. This results in a significant reduction in processing time. Filers who are seeking the child tax credit (CTC) or earned income tax credit (EITC) will still have to wait longer despite all of this. The IRS has confirmed that taxpayers’ bank accounts will only receive these refunds around February 27, as law requires.

The 2024 tax refund cycle is shown here.

Estimated Tax Refund Calendar 2024

If Filed By	Direct Deposit	Paper Check
January 29	February 9*	February 16*
February 5	February 16*	February 23*
February 12	February 23*	March 1*
February 19	March 1*	March 8*
February 26	March 8	March 15
March 4	March 15	March 22
March 11	March 22	March 29
March 18	March 29	April 5
March 25	April 5**	April 12**
April 1	April 12**	April 19**
April 8	April 19**	April 26**
April 15	April 26	May 3
April 22	May 3	May 10
April 29	May 10	May 17
May 6	May 17	May 24
May 13	May 24	May 31
May 20	May 31	June 7

* = Returns with EITC or CTC may face refund delays until March due to further verification.

** = Expect longer waits since filing during peak season (late March – April 15)

How will you benefit from using direct deposit?

If you’re hoping for your refund to arrive in your bank account shortly, filing early is a basic necessity. By using direct deposit, you can avoid more delays.

By default, paper checks and paper returns take longer. In contrast, if you choose the other method, your refund will be credited to a bank account, prepaid debit card, or mobile application. You will need to have a routing and account number to use this method.

When filing, take care to avoid making any mistakes. Further errors or missing information will cause further delays since your documents will be sent for additional review. Ensure that your income records are easily accessible.

If you’re purchasing your insurance through the health insurance marketplace, Form 1095 might also be necessary. You will also require your Identity Protection Personal Identification number if you were issued one by the IRS.

There are other options available to help you prepare your tax checklist of required documents, even though tax professionals are the default go-to choice. You can file your taxes more affordably using the IRS Free File Program or Volunteer Income Tax Assistance (VITA).