In a typical year, most Americans expect to receive their tax refunds quickly, usually within a few weeks of filing their returns. But with processing delays due to COVID-19, many are expecting much more. The IRS says that most refunds are still issued within 21 calendar days. If you haven’t received your tax refund yet, what does it mean? What is the significance of the IRS Treasury 310 Tax Refund? In this post, we will find out everything about it.
IRS Treasury 310 Tax Refund: Where Is Your Refund?
Why has your return not been processed?
The IRS has been delayed in processing returns for the entire tax season, but there are a few situations that cause additional delays for some taxpayers:
- You mailed your return instead of electronically filing it.
- Your return has errors such as an incorrect recovery refund credit. \Your return is incomplete.
- You have filed a claim for the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC).
- You submitted Form 8379, Injured Spouse Allowance.
- You are a victim of fraud or identity theft.
- Your return needs additional review from the IRS.
If the Internal Revenue Service (IRS) contacts you (by mail only) to request clarification or more information, responding in a timely manner can help you move forward with your return.
IRS Treasury 310 Tax Refund: Why has your refund been delayed?
If your return has been processed, there are a handful of reasons why your refund may not have arrived. If you opted for a paper check over direct deposit, your check may be lost in the mail or stolen. If you expected your refund to appear in your bank account, the account information on your return may have been entered incorrectly.
Another unfortunate possibility is tax return preparer fraud – this is when the person you hired to do your taxes altered your return after it was approved and signed to redirect the funds to a different account than the one you selected. This situation can be difficult to track, but often the IRS will alert you to inconsistencies in your return. You can also request a transcript from your tax account to make sure it matches the statement you signed.
A final possibility is that the IRS is withholding your refund, either related to your EITC or ACTC claim or to offset debts, such as outstanding taxes or child support.
How to check the status of your return and refund?
The only way to track your return and refund is to use the “Where’s my refund?” tool on IRS.gov. You can call the IRS Tax Help Line at 800-829-1040, but if your return is active at “Where’s My Refund?”, you are unlikely to get additional details that are not provided online.
Your return status must appear within 24 hours after your electronic return is submitted or within four weeks after your paper return is mailed. A status of “received” indicates that the IRS has your return to process, and a status of “approved” means that the IRS has approved your refund. You’ll also see when the funds are expected to be distributed, and the status will change to “shipped” when your refund is on its way.
What to do if you haven’t received your refund?
In case there is no issue with your return, you can’t expedite the return processing and refund issuing process. If the IRS needs more information to finalize your refund, please provide this in a timely manner.
If you submitted the wrong bank account information for direct deposit, you can contact your bank and try to fix it. If this goes nowhere, you can submit Form 3911 for IRS assistance. The IRS doesn’t have the power to force your bank to return the money to you. If you suspect that your paper check has been lost or stolen, you can initiate an IRS follow-up .
In the case of tax preparer fraud, the process to remedy your situation is long. You will need to file a police report and provide some documents to the IRS.
Finally, if you are experiencing financial difficulties while you wait for your return to be processed, you can request that the IRS expedite your refund.
What is IRS TREAS 310?
If your bank statement says IRS TREAS 310, it signifies the refund which was issued after you filed your tax return. You can also see this code if you received an adjustment or credit on your return due to the stimulus legislation.