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Why many tax refunds won’t be paid out until March

The IRS expects 164 million tax returns to be filed by the April 15 deadline, with average refunds projected to be $1,000 higher this year compared to last year.
For those filing electronically, the IRS says refunds should be processed in 21 days or less, with direct deposit options potentially speeding up the process further. Paper returns could take four weeks or more, and any necessary amendments or corrections will extend the timeframe.
If you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), be warned that by law, the IRS can’t issue EITC or ACTC refunds before mid-February. This includes your entire refund, not just the part that’s related to the credit you claimed on your tax return.
Refunds including those credits are expected to be deposited into accounts or loaded onto debit cards by March 2 for those opting for direct deposit.
The agency warns against relying on a refund by a specific date, particularly when planning significant purchases or bill payments. Taxpayers can track their refund status using the Where’s My Refund? online tool, the IRS2Go app, or an IRS Individual Online Account.