If you are tracking your federal tax return on the IRS “Where’s My Refund?” tool, you might notice that it shows your return as either “Accepted” or “Approved.” At first glance, these terms may seem interchangeable, but they are not. Let me explain what each one means and how they affect your refund timeline.
What does it mean when your tax return is ‘accepted’?
When the IRS “accepts” your return, it means it has passed the initial checks. Here is what happens during this stage:
- Verification of basic information: The IRS confirms that your personal details, like your Social Security number and filing status, match their records.
- Initial error check: The system runs your return through an automated check for obvious mistakes, such as missing signatures or miscalculations.
- Electronic filing confirmation: If you filed electronically, the “Accepted” status shows that the IRS successfully received your return.
It is important to know that “Accepted” does not mean your refund is ready to be issued. Your return still needs to go through the approval process before the IRS releases your money.
How long does it take for an ‘accepted’ return to become ‘approved’?
Following the acceptance of your return, the IRS moves it to the processing stage. Here, they scrutinize your income, deductions, and credits. By rule of thumb, the IRS normally approves refunds within 21 days after accepting the tax return. This time frame may change due to the following reasons:
- Mistakes or missing elements: There may be a need to investigate the return further if it contains contradictions.
- Claiming EITC, ACTC and other specific credits: The use of credits such as Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) while filing makes it take longer to process that return.
- Correspondence returns: The time for processing returns filed using the paper version is longer than that for processing e-filing returns.
It’s normal to be anxious as you wait for approval, but in the majority of cases though, everything is fine as long as your details are correct.
IRS Form 1138 Tax Extension in 2024: what is it, instructions, how to fill it out and where to apply
What does it mean when your tax return is ‘approved’?
“Approved” is the stage when the IRS confirms your refund is on its way. At this point:
- Your return has been fully reviewed and cleared of any issues.
- The IRS determines the exact amount of your refund.
- You will receive an estimated date for your refund deposit or check delivery.
Once your return reaches this stage, it is essentially a green light that your money is being processed for release.
Can you speed up the approval process?
You can not get the IRS to speed up the processing of your return, but you can take measures to help minimize any possible delays:
- Submit your return online: Electronic submission is much more effective and decreases the likelihood of mistakes compared to filling and sending paper returns.
- Pay attention to detail: Make sure every detail is filled in accurately, including the Social Security number, banking details, calculations, and so forth.
- Use direct deposit: If you want your refund to come in the fastest way possible, choose the direct deposit option.
What is IRS TREAS 310 and how is it related to 2023 Tax Returns?
Should you call the IRS if there is a delay?
The IRS advises against calling them to check your refund status unless it has been more than 21 days since your return was accepted or more than six weeks for paper filings. Instead, use these tools to monitor your return:
- Where’s My Refund? Available on the IRS website, this tool updates daily.
- IRS2Go app: A convenient way to track your return on your phone.
Calling the IRS will not speed up your refund and may lead to frustration due to long wait times.
Why does the difference matter?
It’s important to distinguish between ‘Accepted’ and ‘Approved’ in order to manage your expectation appropriately during the tax filing season so that you do not incur unnecessary stress. For example, it will help you know how long it will take to wait for your tax refund.
