(FreedomBeacon.com)- Many people rushed to finish their taxes at the last possible moment.
The deadline is typically April 15, but Emancipation Day fell on that day this year.
As a result, the deadline has been moved back until April 18, 2022.
In commemoration of Patriot’s Day, Maine and Massachusetts established a deadline of April 19, 2022.
Extensions have been granted to Tennessee, Illinois, Kentucky, and Colorado until May 16, 2022. The extensions are due to tornadoes and wildfires in the affected areas.
The consequences of missing the tax deadline could result in punitive monetary penalties.
You will receive your refund considerably faster if you choose direct deposit instead of a paper check. Filing electronically rather than on paper will also result in a speedier refund since it is processed more quickly.
You should get your tax refund within three weeks of the day your return is accepted if you file paperlessly.
The IRS processes more than 9 out of 10 refunds in a three-week period. However, it’s conceivable that your tax return may need to be reviewed again, which will take longer.
The IRS launched the Where’s My Return function on their website, which allows you to monitor your refund within 24 hours after filing.
If you have a prepaid debit card, you may be able to have your refund applied that way. Many reloadable prepaid cards have account and routing numbers that you could provide to the IRS. You would need to check with the financial institution to ensure your card can be used and obtain the routing number and account number, which may differ from the card number.
According to the Internal Revenue Service numbers, the average tax refund is more substantial this year.
The IRS awarded refunds to over 38 million of the 53 million individual tax returns it handled through March 5. In comparison to the same point the previous filing season, more than 5% more refunds had been awarded.
The average return size this year — at least so far — is $3,256.
Of course, these figures may not accurately reflect final refund amounts. The average refund by early December 2021 was $2,815.