With just over two weeks until tax filing season wraps up, the IRS is still steadily issuing refunds. Here’s what to know.
The 2024 tax season has been chugging along for over eight weeks now, and now there’s just about two weeks left until everything wraps up, with the season having kicked off on Jan. 29 and ending April 15. The amount of tax refund money the IRS has sent out is continuing to pick up, even though the total number of refunds sent so far in 2024 is continuing to lag slightly behind the numbers for the same period in 2023.
Taxpayers can normally expect to receive a refund within 21 days if they file electronically and choose direct deposit, the IRS said. But by March 22, the IRS had issued more than 49.1 million refunds. By comparison, the IRS had sent out over 53.9 million refunds by March 17, 2023.
Tax season last year started six days earlier, however, on Jan. 23, so the IRS had nearly a week longer to receive and process tax returns and send refunds. Given that, it seems that the agency is beginning to catch, and even surpass, last year’s numbers.
