Refund Delayed? Here's What You Need to Know

It's hard not to get antsy when your money is held up.

Some people get a few hundred dollars back in the form of a tax refund. Others are due thousands from the IRS.

Either way, if you submitted your taxes already, you may be anxious to see your refund hit your bank account or arrive in the mail. But if it's been weeks since you sent in your return and your refund still hasn't arrived, here are some of the reasons why you may be experiencing a delay in getting that money.

1. You filed a paper return

Some people are used to filing paper tax returns and like to stick to that method. But one thing you should know is that it takes the IRS a lot longer to process paper tax returns than electronically filed returns.

The typical turnaround time for a return submitted electronically is three weeks. With a paper return, the usual turnaround time is six weeks. What’s more, the IRS is currently sitting on a massive backlog of paper returns from last year, so if you went the paper route, you may end up waiting longer for your tax refund.

2. You made a mistake when filing your return

Usually, the IRS will attempt to correct math errors and minor, obvious mistakes on a tax return rather than reject it outright. But if you make a more significant mistake, the IRS may be in the process of trying to reconcile it, which could result in a holdup on the refund front.

If your return is rejected, you'll get a notice saying you need to submit it again. And until you do, the IRS won't be able to send you your money.

3. You entered the wrong information for direct deposit

One of the easiest ways to get your tax refund is to sign up for direct deposit. That way, you don't have to worry about a check getting lost in the mail, since the IRS can electronically transfer funds to your bank account.

But if you put in the wrong bank account information -- like the wrong account number or routing number -- when signing up for direct deposit, the refund the IRS sends will get rejected. From there, the IRS will need to take back that payment and figure out how to reissue it to you. The result? A potentially lengthy holdup.

How to check on your tax refund

In an ideal world, you'd submit a tax return and see your refund arrive within days. But it takes time to process a tax return, and sometimes, factors like the ones above can come into play that result in a holdup of your refund.

If you're eager to know when to expect that money, the IRS has a Where's My Refund tool you can use to check on its status. To get that information, you'll need your:

• Social Security number
• Tax-filing status
• Exact refund amount

From there, the IRS should be able to give you a little more information as to where your refund stands. Keep in mind, though, it can take 24 hours from when you submit an electronic tax return for that tool to work for you. And it can take more like a month if you filed your taxes on paper.