Tax Refund Processing Time Statistics

In this post, we will explore key statistics and insights related to tax refund processing time in the United States. From the percentage of refunds issued within a certain timeframe to the impact of backlogs on refund delays, these statistics shed light on the dynamics of tax refunds and offer valuable information for taxpayers navigating the process.

Statistic 1

"About 90% of tax refunds are issued by the IRS in less than 21 days."

Statistic 2

"As of September 2021, the IRS had a backlog of over 35 million tax returns, which led to delayed refund processes."

Statistic 3

"Approximately 25% of taxpayers typically wait until the last two weeks of tax season (April) to file."

Statistic 4

"The current average refund in 2021 is around $2,827."

Statistic 5

"More than 153 million individual tax returns are expected to be filed in 2021."

Statistic 6

"E-filing and selecting direct deposit is the fastest way to receive a tax refund."

Statistic 7

"Military service members and certain eligible support personnel serving in combat zones have at least 180 days after they leave the combat zone to file their tax returns and pay any taxes due."

Statistic 8

"Approximately 70% of taxpayers received a tax refund in 2019."

Statistic 9

"The IRS states that taxpayers can speed up their refunds by using the IRS Free File service."

Statistic 10

"As a result of the Recovery Rebate Credit, many 2020 tax refunds were larger than usual."

Statistic 11

"Tax returns with errors or that are flagged for review could take longer—easily 6 to 8 weeks—to process."

Statistic 12

"In July 2021, the treasury department announced it had delivered more than $10 billion in additional tax refunds to citizens."

Statistic 13

"More than 59.2% of tax returns have been e-filed from home computers in 2021."

Statistic 14

"If your tax return is not processed within 45 days from the date the IRS received it, you could be entitled to receive interest on the refund."

Statistic 15

"Refunds which are part of a jointly-filed tax return can be used to satisfy the debts of either or both parties."

Statistic 16

"The IRS has sent a total of around $125 billion in refunds to Americans from January 1 to April 3, 2021."

Statistic 17

"In 2018, about 72.6% of American taxpayers received a refund from their tax return, and the average refund was about $2,725."

In conclusion, the processing time and issuance of tax refunds by the IRS are influenced by various factors such as backlog, filing habits, refund amount, filing method, errors, and legislative changes. Despite the challenges posed by backlogs and review processes, utilizing e-filing with direct deposit, promptly filing taxes, minimizing errors, and taking advantage of IRS services can expedite the refund process for taxpayers. The statistics indicate a significant volume of tax returns being processed by the IRS, with the agency issuing substantial refund amounts to taxpayers, emphasizing the importance of timely and accurate tax filing practices to ensure efficient processing and receipt of refunds.