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IRS Tax Credit Refund: How Long It May Take and Why.

Last year, the Internal Revenue Service (IRS) began sending out a portion of the Child Tax Credit. Thanks to the American Rescue Plan, families with children under the age of 6 were eligible for a payment of $3,600 for each child; while families with children ages 6 to 17 were eligible for $3,000.

The IRS provided half of the credit in monthly checks from July through December: $300 for families with children under 6 years of age and $250 for families with children 6 to 17 years of age. The other half of the payment is scheduled to be delivered in 2022 through the 2021 tax return. In addition, taxpayers who did not receive the monthly payments can claim the full payment (up to $3,000 or $3,600) on their return.

IRS Tax Credit Refund: How Long It May Take and Why

Once the return is filed, the IRS allows up to 21 days to deliver the money by direct deposit to those who file electronically or between 6 and 12 weeks if it is sent by mail. However, the refund may take longer.

According to the Taxpayer Advocate Service (TAS), those who filed their return on paper will not see their refunds for about six months.

Previously, the IRS had noted that Child Tax Credit money for those who filed electronically could take longer than 21 days. This is because a thorough analysis must be done to send taxpayers the money they really deserve from the credit.

Erin M. Collins, National Taxpayer Advocate, warned that it could realistically take six to nine months to get a refund if you file your 2021 federal income tax return on paper.

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