Mar 04, 2024

Question of the Day: How long does it take to get a tax refund?

Some play the waiting game longer than others.

Answer: Between 1 week and 2 months, depending on how you file

Questions:

  • Which type of tax filing would you prefer to use? Why?
  • Why might getting a tax refund in a timely manner be important to some people?
  • If you were to receive a tax refund, how would you use it?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

Behind the Numbers (Smart Asset):

"When you get your tax refund will depend largely on how you file your return. The fastest option is to e-file your return and to receive your refund via direct deposit. For 2020 taxes, the majority of taxpayers who choose this option will receive their refunds within 21 days. That means your bank will have your refund within three weeks from the day the IRS accepts your tax return. Then it may take up to a few additional days for your bank to make the funds available to you."

 

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Need more resources? Check out the NGPF Taxes unit!

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About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.

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