- 1 Tax Refund not Received ?
- 1.1 We have received your tax return and it is being processed
- 1.2 1. Last minute Filings
- 1.3 2.Paper-based ITR Verification
- 1.4 3. Flaws in the Tax Filing
- 1.5 4. Income or Tax amount Discrepancy
- 1.6 5. Incorrect Details of the Bank Account
- 1.7 6. Incorrect Communication Address
- 1.8 7. ITR filed by a legal heir
- 1.9 8.The Income Tax Return is not complete
- 1.10 9.Refund has been offset for Paying Debt
- 1.11 10. Refund adjusted with outstanding demand of the last year
- 1.12 Conclusion
Tax Refund not Received ?
We have received your tax return and it is being processed
When your income tax return gets processed, it generally takes around 30-45 days to get your refund back. People who have filed it before 31st July are expected to get their refund by now.
But, if they haven’t got it yet, then there must be reasons behind this delay which are discussed below:
1. Last minute Filings
Why is my tax refund taking so long
There are many taxpayers out there who file ITR on or closer to the deadline. Since most people prefer to proceed with the things at the last moment, it can cause a backlog and the IT department will take more time to initiate your refund process. However, if you don’t get the refund or response from the IT team in the duration of two months, we recommend you to inspect your ITR thoroughly for finding any error.
2.Paper-based ITR Verification
– why is my tax refund taking so long
Apart from filing an ITR, it is important to perform the verification of the return. The instant online verification allows you to finish the process from your side. Generally, the physical verification procedure consumes more time for the refund to get processed. Taxpayers will get the facility to submit their signed copies to the IT department within 120 days of their submission of returns online.
3. Flaws in the Tax Filing
If you choose an incorrect ITR or put up your wrong information, then it will lead to a delay in the refund. In that case, the IT team will take more time for confirmation and verifying the same. They will go through your official records carefully to check if you have to share more details. They may even contact you if they will require additional information.
4. Income or Tax amount Discrepancy
If there is a discrepancy in the income from several sources, then it will cause a delay in the refund process. This problem arises in the case information provided in the Form 16 does not sync with the TDS details in form 26 AS.
5. Incorrect Details of the Bank Account
Providing wrong bank account information can make it difficult for the IT team to initiate the refund in spite of the fact that all your formalities are completed. In this condition, you are advised to check your refund status online. This will let you know whether your refund has been processed or not. Unless you have provided the right information about your bank details, the cash will not be transferred.
6. Incorrect Communication Address
Providing the correct communication address is very essential. In case if you have made any mistake while filing your ITR and IT department tries to communicate with you, they will not be able to communicate if you’ve provided a wrong address. Avoiding these communications will create difficulties for the taxpayers. Rechecking your communication address can be great in case your refund has been delayed.
7. ITR filed by a legal heir
After the death of the taxpayer, his/her legal heirs can file the income tax return on his/her behalf. If there is any mistake, then it will make the delay in the refund.
8.The Income Tax Return is not complete
An incomplete return can cause an IRS review which will ultimately cause a delay in the refund. If you have filed a paper return and missed out on entering the important details like Social security number, it would be difficult for IRS to process your return until these details are thoroughly checked.
9.Refund has been offset for Paying Debt
If you have specific debts like unpaid state taxes or federal student loans, then the IRS has full authority to offset your refund by the balance owed.
If your return is offset, then you will receive a notice from the team stating the reasons why your refund was taken and which agency did the debt owed to. You have the authority to dispute the debt with the agency that has got your refund.
10. Refund adjusted with outstanding demand of the last year
If your online income tax refund status shows as “refund claim rejected”, then it is possible due to the fact that your tax refund for the present year has been adjusted with the outstanding demand of the last few years.
What you have to do in case of delayed refund?
If it has already been a month since you filed the ITR and it has not been processed, then you are advised to check the status of the refund on the e-filing portal. You can also check your registered email regularly or the e-filing account to check for any notification from the IT team related to the process of ITR.
Read Also: Tax Brackets And Federal Income Tax Rates
The aforementioned points are the top reasons behind the delay in your income tax refund. So, now that you know the different reasons for the delay in the tax refund, you are advised to check your status online and take the right measures to claim your ITR.
We sincerely hope that you find this post informative and meaningful.
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