Surprised by IRS Tax Return processing speed for 2024 tax returns

[Namashkar]

I was surprised when I received the refund for my 2024 tax return. I used the Free Fillable forms to file my return on Jan 30 and received the refund in my bank account on Feb 5 i.e. only 6 days. Though not overly complicated, my return had IRA distribution for RMD and Roth Conversion, Form 8606, Short term capital gain on treasury bill, From 8995, Schedules B and 3.

[jebmke]

seems reasonable for e-filed and DD returns that don't have complications. Their automatic processing generally works pretty well. Once you venture into complications, paper returns, refunds by check or errors on the return it slows. If a person has to get involved it slows dramatically -- and I suspect this year will reverse the progress made recently in that regard.

Thanks for the news. I start at TaxAide tomorrow and one question we always get is "when will I get my refund."

[JazzTime]

I used the Free Fillable forms to file my return on Jan 30 and received the refund in my bank account on Feb 5 i.e. only 6 days.

Congratulations. You WON the annual BH prize for being the first to file. You have a free lifetime subscription to the BH forum.

Actually, I noticed both the Fed and my state seem to issue refunds pretty quickly. That occurs long before anyone reviews the tax file, so that's probably why tax fraud is so easy today. By the time the IRS figures out that the refund they issued was fraudulent, the bad guy is long gone and untraceable.

[bobn60014]

Refund? What's that?

Last years refund time seemed to be 7-10 days on average.

[Nowizard]

We have filed in the last two days. We received notification that the return had been accepted within thirty minutes. Refunds have been processed within a week or so in most cases other than last year when it was increased by IRS due to their interpretation of the TurboTax filing.

[stan1]

This speed is normal for e-file, and why I can't imagine anyone choosing to paper file.

[Johnny Thinwallet]

We filed on February 1, but the refund hasn't posted yet. I suspect it may arrive somewhat soon though.

I typically file early as it's one simple thing I can do to help prevent tax ID theft, i.e. file before the criminals do so on my behalf. It's also just my nature to get stuff done early. I pay our bills soon after I receive them rather than waiting closer to the due date. My take is if something gets fouled up processing the payment then at least I've given myself extra time to get things sorted out. And this habit has bailed me out in the past, because things sometimes do get fouled up.

All that said, we haven't filed our state taxes yet. I have to wait until Fidelity publishes their forms for Percentage of Income from US Government Securities, and that's not due to be released until later this month.

[_nvrltthmknwyrnxtmv]

Same here, accidentally getting a refund. Filed -Jan- 30, waited for state forms in turbo tax. Came to pending in my checking a couple days ago with a 2/6 date. Compared with other years its always 1 to 2 weeks. Does seem though this year has been the fastest. I am guessing the earlier you file the faster it will be. The cue must get longer as time goes by...

-edited, I am not a time traveler honest-

[FrankLUSMC]

I e-filed both Fed and State yesterday and both were accepted within a few hours. Funds will be withdrawn on 4/15. Once retired I stopped getting refunds.

[Hyperchicken]

Congratulations but that's pretty normal processing time, not something exceptional.

[beyou]

Wish my state was as fast as the IRS. I am trying to reduce my state estimated tax payments to avoid having a slow payer owe me $.

[jebmke]

Wish my state was as fast as the IRS. I am trying to reduce my state estimated tax payments to avoid having a slow payer owe me $.

MD has historically been faster than Federal although I haven't measured lately. The acks come later (typically night of submission) but the DDs were often in 3-4 days in many cases. I can't tell from my return. When I file it is always zero owed and it has been a long time since my extension payment was off.

On the other hand, the Maryland ES payment system is a mess - they often have jobs hung up and the debits don't hit the account until after the due date. The Comptroller has assured me that it is fine to put in the payment as being on time.

[White Coat Investor]

I used the Free Fillable forms to file my return on Jan 30 and received the refund in my bank account on Feb 5 i.e. only 6 days.

Congratulations. You WON the annual BH prize for being the first to file. You have a free lifetime subscription to the BH forum.

Actually, I noticed both the Fed and my state seem to issue refunds pretty quickly. That occurs long before anyone reviews the tax file, so that's probably why tax fraud is so easy today. By the time the IRS figures out that the refund they issued was fraudulent, the bad guy is long gone and untraceable.

I find it interesting to see people filing their 2024 taxes already. I feel like I just finished my 2023 ones. I've been filing in October for several years.

No, if you can file on January 30th you definitely do not have a complicated return. I don't even have the K-1 yet for the business I own.

[pointyhairedboss]

I am still waiting for financial institutions to complete their 1099 statements.

[ArtMan]

On the other hand I am still waiting for a Consolidated Form 1099 from Fido. Check back on Feb. 8, they say, while blaming iShares, Invesco, and four other ETF issuers for delayed data. So I guess I won't be a winning an Early Filer Merit Badge this year....

[alpenglow]

Seems like pretty reasonable turn around time for earlier filing of a straight-forward return based on my prior experience. I'm still waiting on 1099's from Schwab and Tasty.

[sycamore]

Filed Feb 30, waited for state forms in turbo tax. Came to pending in my checking a couple days ago with a 2/6 date. ...

How'd you manage the time travel ?!

[alfaspider]

This speed is normal for e-file, and why I can't imagine anyone choosing to paper file.

I've paper filed returns other than my personal return (an estate in that case). It was a very simple return and it wasn't worth paying for tax software to e-file it. There was no refund involved.

I haven't personally got a tax refund in 15 years. My goal is always to pay the most possible without owing a penalty for under withholding/underpayment. They money I don't fork over early can grow with my investments. But if you are owed a refund, I can understand looking to file as quick as possible and it doesn't surprise me that they would automatically process a refund for a simple W-2 filer in that time period. The dirty little secret is they don't actually need you to file to know what you are owed if you are non-itemizer w-2 filer without any secondary income sources or pass-through investments (such as S-corps or partnerships).

[prioritarian]

No, if you can file on January 30th you definitely do not have a complicated return. I don't even have the K-1 yet for the business I own.

My 1099s at fidelity are often delayed until the middle of march.

[vtMaps]

Check back on Feb. 8, they say, while blaming iShares, Invesco, and four other ETF issuers for delayed data.

A week ago Fidelity published tax data (qualified dividends) for iShares iTOT. I don't know about other iShares funds.
see: viewtopic.php?t=448454

--vtMaps

[trueblueky]

Filed Feb 30, waited for state forms in turbo tax. Came to pending in my checking a couple days ago with a 2/6 date. ...

How'd you manage the time travel ?!

First, you wait for February 30. The rest is simple.

[MarkNYC]

The dirty little secret is they don't actually need you to file to know what you are owed if you are non-itemizer w-2 filer without any secondary income sources or pass-through investments (such as S-corps or partnerships).

Not sure I agree. The IRS does not know that "you are non-itemizer w-2 filer without any secondary income sources" unless and until you actually file.

Also, if you haven't yet filed a return, they cannot know what you are properly owed since they don't know your actual filing status.

[jebmke]

The dirty little secret is they don't actually need you to file to know what you are owed if you are non-itemizer w-2 filer without any secondary income sources or pass-through investments (such as S-corps or partnerships).

Not sure I agree. The IRS does not know that "you are non-itemizer w-2 filer without any secondary income sources" unless and until you actually file.

Also, if you haven't yet filed a return, they cannot know what you are properly owed since they don't know your actual filing status.

Right, refundable credit comes to mind. They don't know the number and status of potential dependents that might generate additional child tax credit, forexample.

[VanGar+Goyle]

I e-filed both Fed and State yesterday and both were accepted within a few hours. Funds will be withdrawn on 4/15. Once retired I stopped getting refunds.

How do you specify that funds will be withdrawn on 4/15?
Is this a common feature that I have never seen.
I have scheduled estimated tax payments a few days before they are due.

[jebmke]

I e-filed both Fed and State yesterday and both were accepted within a few hours. Funds will be withdrawn on 4/15. Once retired I stopped getting refunds.

How do you specify that funds will be withdrawn on 4/15?
Is this a common feature that I have never seen.
I have scheduled estimated tax payments a few days before they are due.

Normally it can be done with the tax software. I can also use the EFTPS system. It may also be that the Direct Pay system can schedule debits as well

[FrankLUSMC]

TurboTax lets you schedule the date for withdrawal for both Fed and State. SC DOR also lets you make estimated payments and set the dates for withdrawals. And when I was making IRS estimated I could set the dates, schedule all 4 at the same login time.

Edited to add that in order to set a future date you MUST use ACH from a bank. Using a card to pay makes it only to pay on the current day.

[alfaspider]

The dirty little secret is they don't actually need you to file to know what you are owed if you are non-itemizer w-2 filer without any secondary income sources or pass-through investments (such as S-corps or partnerships).

Not sure I agree. The IRS does not know that "you are non-itemizer w-2 filer without any secondary income sources" unless and until you actually file.

Also, if you haven't yet filed a return, they cannot know what you are properly owed since they don't know your actual filing status.

Hence the reason for my caveats. But in theory they could allow you to just login to a website or send in a postcard with a check a box saying "I'm not itemizing and have no unreported income", and then send you your refund. That's the way it is actually done in some countries.

[Makefile]

Not sure I agree. The IRS does not know that "you are non-itemizer w-2 filer without any secondary income sources" unless and until you actually file.

Also, if you haven't yet filed a return, they cannot know what you are properly owed since they don't know your actual filing status.

Hence the reason for my caveats. But in theory they could allow you to just login to a website or send in a postcard with a check a box saying "I'm not itemizing and have no unreported income", and then send you your refund. That's the way it is actually done in some countries.

I believe Form 1040-EZ actually originated as a postcard exactly like that. But as soon as you start adding in child tax credits, educational benefits, etc., and putting income phase-outs on those, the simplicity unravels.

[madijack]

Me too

July 2024 filed return - $7.900 overpaid - refund due [language removed - moderator ClaycordJCA]
Very simple return -
August 2024 letter from IRS telling us they are verifying information.
Accountant tells me they are just verifying it isn't someone else filing. Standard thing.

September 16 2024 IRS letter requesting 3 pay statements and year end statement, letter on company letterhead verifying employment during 2024 and statement of benefits on retirement income.

Uploaded documents through online secure portal September 21 2024 -

As of today there is no update. 2/6/25
Call their numbers listed 'if nothing received within 60 days' and cannot speak with anyone, only press the buttons to furnish tax year, verify my SS, filing status and amount - the auto reply is

'We apologize but your return processing has been delayed beyond the normal timeframe. You can continue to check back here to for the most up to date information regarding your refund. We understand your tax refund is very important and we're working to process your return as quickly as possible. If you would like to hear your refund status again press 1'....................

[Off-topic comment removed - moderator ClaycordJCA]

[minesweep]

Electronically filed my federal tax return (using H&R Block) at 1.23 P.M. today. IRS accepted my return at 1:27 P.M. I owe taxes so I set it up to have the tax money withdrawn from my bank on 4/15. H&R's next update is on 02/21 but any of the forms I used have been finalized.

Federal tax forms checklist

[kd2008]

Filed last Sat. Approved Thursday. Refund deposited Friday. For both Fed and State.

W-2, 1099-DIV, 1099-INT, HSAs.

Easy peasy.

Used Freetaxusa to file.

[tetractys]

I was surprised when I received the refund for my 2024 tax return.

AI is proving useful.

[EnjoyIt]

Congratulations. You WON the annual BH prize for being the first to file. You have a free lifetime subscription to the BH forum.

Actually, I noticed both the Fed and my state seem to issue refunds pretty quickly. That occurs long before anyone reviews the tax file, so that's probably why tax fraud is so easy today. By the time the IRS figures out that the refund they issued was fraudulent, the bad guy is long gone and untraceable.

I find it interesting to see people filing their 2024 taxes already. I feel like I just finished my 2023 ones. I've been filing in October for several years.

No, if you can file on January 30th you definitely do not have a complicated return. I don't even have the K-1 yet for the business I own.

Why wait till October?

Also, isn’t your K1 due on March 15th? Plenty of time to file personal taxes by mid April. Is there some benefit to waiting?

[JD7]

Wish my state was as fast as the IRS. I am trying to reduce my state estimated tax payments to avoid having a slow payer owe me $.

I'm just happy when my state doesn't lose my check. It's happened twice. The first time was no problem because I sent it certified mail. The second time I thought what's the chances of them losing it again, and mailed it normal mail. I had to pay a late fee that time.

[beyou]

Wish my state was as fast as the IRS. I am trying to reduce my state estimated tax payments to avoid having a slow payer owe me $.

I'm just happy when my state doesn't lose my check. It's happened twice. The first time was no problem because I sent it certified mail. The second time I thought what's the chances of them losing it again, and mailed it normal mail. I had to pay a late fee that time.

What is this thing you call a check ?

if you care about speed, don't use the US Mail nor paper payment/returns.

[White Coat Investor]

I find it interesting to see people filing their 2024 taxes already. I feel like I just finished my 2023 ones. I've been filing in October for several years.

No, if you can file on January 30th you definitely do not have a complicated return. I don't even have the K-1 yet for the business I own.

Why wait till October?

Also, isn’t your K1 due on March 15th? Plenty of time to file personal taxes by mid April. Is there some benefit to waiting?

I see you haven't played the "K-1 game" very much.

Partnerships can and do routinely file extensions. That gives them until September 15th to file. And many take most of that time. I'd say less than 10% of my 20ish K-1s come in by March 15th. And at least 25% after June 30th.

[beyou]

Why wait till October?

Also, isn’t your K1 due on March 15th? Plenty of time to file personal taxes by mid April. Is there some benefit to waiting?

I see you haven't played the "K-1 game" very much.

Partnerships can and do routinely file extensions. That gives them until September 15th to file. And many take most of that time. I'd say less than 10% of my 20ish K-1s come in by March 15th. And at least 25% after June 30th.

I am mildly pleased to be waiting for my LAST k-1. I retired 3 years ago but have deferred comp from my former employer who granted us shares in their exchange traded LP. All shares now vested and waiting until that last K-1 arrives to complete my tax return.

That said I have never had to file an extension, they have always sent our K-1 in early March.
I would not likely file any earlier anyway, since I don't trust that all bugs are fixed in tax software and worry I'll get corrected IRS forms.
I already got my 1st corrected form last week !

I suppose I am leaving to my heirs a need to file extensions since I am using trusts to leave them my assets, and surely they will have to wait for K-1s.

[White Coat Investor]

I see you haven't played the "K-1 game" very much.

Partnerships can and do routinely file extensions. That gives them until September 15th to file. And many take most of that time. I'd say less than 10% of my 20ish K-1s come in by March 15th. And at least 25% after June 30th.

I am mildly pleased to be waiting for my LAST k-1. I retired 3 years ago but have deferred comp from my former employer who granted us shares in their exchange traded LP. All shares now vested and waiting until that last K-1 arrives to complete my tax return.

That said I have never had to file an extension, they have always sent our K-1 in early March.
I would not likely file any earlier anyway, since I don't trust that all bugs are fixed in tax software and worry I'll get corrected IRS forms.
I already got my 1st corrected form last week !

I suppose I am leaving to my heirs a need to file extensions since I am using trusts to leave them my assets, and surely they will have to wait for K-1s.

The extensions are really no big deal. You still have to do most of your taxes by April 15th anyway as the tax bill is due then, but it's nice to have more time, and especially time when accountants aren't that busy, to file the forms.

[beyou]

I am mildly pleased to be waiting for my LAST k-1. I retired 3 years ago but have deferred comp from my former employer who granted us shares in their exchange traded LP. All shares now vested and waiting until that last K-1 arrives to complete my tax return.

That said I have never had to file an extension, they have always sent our K-1 in early March.
I would not likely file any earlier anyway, since I don't trust that all bugs are fixed in tax software and worry I'll get corrected IRS forms.
I already got my 1st corrected form last week !

I suppose I am leaving to my heirs a need to file extensions since I am using trusts to leave them my assets, and surely they will have to wait for K-1s.

The extensions are really no big deal. You still have to do most of your taxes by April 15th anyway as the tax bill is due then, but it's nice to have more time, and especially time when accountants aren't that busy, to file the forms.

So your accountant does most of the return to get an estimate of what you may owe, and then you pay it ?

How accurate can that estimate be if you have many sources of K-1 income ?

And even if he can make an accurate estimate, then what if owed a refund, I would assume then you have to wait to file later to get it.

Finally is the request to extend and pay estimated tax done electronically or mailed ?

[stan1]

I was surprised when I received the refund for my 2024 tax return. I used the Free Fillable forms to file my return on Jan 30 and received the refund in my bank account on Feb 5 i.e. only 6 days. Though not overly complicated, my return had IRA distribution for RMD and Roth Conversion, Form 8606, Short term capital gain on treasury bill, From 8995, Schedules B and 3.

They got extra money several years ago to modernize IT systems, guessing that has helped speed refund processing.

[oldfatguy]

Slower for me this year than in previous years. Return was accepted by the IRS a week and a half ago, and my refund still hasn't even been "approved." [Unnecessary comment removed. Moderator Pops1860]

[samsoes]

I learned the hard way last year about expecting a timely refund. Granted, I got greedy and paid an estimated $5.5k in December 2023 to make sure I scored $5k in paper I Bonds. My refund was delayed by months as they wanted to verify my identity despite the fact it I had played the I Bond refund game for several years and was using an IP pin for years also. I decided then that there would be no more refunds if I could help it.

This year I owed $30. It was a wonderful feeling to e-file and pay the $30 using EFTPS and be done with it.

(Coincidentally, paper I Bond refunds are no longer offered.)

[JD7]

I'm just happy when my state doesn't lose my check. It's happened twice. The first time was no problem because I sent it certified mail. The second time I thought what's the chances of them losing it again, and mailed it normal mail. I had to pay a late fee that time.

What is this thing you call a check ?

if you care about speed, don't use the US Mail nor paper payment/returns.

It was years back but I think paper check is still the easiest way to pay in my state. I make sure to get a refund now so I can avoid the trouble.

[nisiprius]

eFiled 2/8/2025. Perhaps 24 hours later, "Where's My Refund" was showing "Refund Received," which is what it is still showing today (2/17/2025).

[Michael Patrick]

Slower for me this year than in previous years. Return was accepted by the IRS a week and a half ago, and my refund still hasn't even been approved.

I'm in the same boat. Hoping it goes through soon.

[Regal 56]

I used the Free Fillable forms to file my return on Jan 30 and received the refund in my bank account on Feb 5 i.e. only 6 days.

Congratulations. You WON the annual BH prize for being the first to file. You have a free lifetime subscription to the BH forum.

Hey, it’s a tie—I also filed on January 30th. Personally, I think we should win something tangible. A free T-shirt with the words “Stay the Course” emblazoned across the front would be cool. But I doubt that my friends and family would understand it.

[White Coat Investor]

The extensions are really no big deal. You still have to do most of your taxes by April 15th anyway as the tax bill is due then, but it's nice to have more time, and especially time when accountants aren't that busy, to file the forms.

So your accountant does most of the return to get an estimate of what you may owe, and then you pay it ?

How accurate can that estimate be if you have many sources of K-1 income ?

And even if he can make an accurate estimate, then what if owed a refund, I would assume then you have to wait to file later to get it.

Finally is the request to extend and pay estimated tax done electronically or mailed ?

Yes.

Never been more than a few hundred off.

Most of the K-1s don't put out much taxable income since most of it is covered by depreciation.

Not sure, you can probably do it either way. I'll bet Google knows.

https://letmegooglethat.com/?q=Can+tax+ ... tronically

[beyou]

So your accountant does most of the return to get an estimate of what you may owe, and then you pay it ?

How accurate can that estimate be if you have many sources of K-1 income ?

And even if he can make an accurate estimate, then what if owed a refund, I would assume then you have to wait to file later to get it.

Finally is the request to extend and pay estimated tax done electronically or mailed ?

Yes.

Never been more than a few hundred off.

Most of the K-1s don't put out much taxable income since most of it is covered by depreciation.

Not sure, you can probably do it either way. I'll bet Google knows.

https://letmegooglethat.com/?q=Can+tax+ ... tronically

How do you not know if you file for an extension every year ?

[White Coat Investor]

How do you not know if you file for an extension every year ?

I hit my head really hard on a mountain 6 months ago and my last extensions were filed 9 months ago. I wasn't that smart even before I hit my head, but it's a pretty handy excuse this year.

I actually was almost 100% sure it was electronic like everything else with taxes, but I figured if I had to Google to be 100% sure then it it would be fun to use the LMGTFY page to do it.

[beyou]

How do you not know if you file for an extension every year ?

I hit my head really hard on a mountain 6 months ago and my last extensions were filed 9 months ago. I wasn't that smart even before I hit my head, but it's a pretty handy excuse this year.

I actually was almost 100% sure it was electronic like everything else with taxes, but I figured if I had to Google to be 100% sure then it it would be fun to use the LMGTFY page to do it.

Well hope you know a good doctor to take care of that problem