On today’s IRS Tax Refund update as we start off 2023 there are still millions waiting on their tax refunds from 2022 so we will take a look at those who are still waiting on theirs. We will also check in on some of the recent notices the IRS has been sending out to taxpayers still waiting to have their returns processed as well.

Meanwhile the countdown has begun to the start of the 2023 tax season so we will check in on the latest including the major reversal by the IRS on one important tax rule that was expected to have caused major issues for millions.

Based on the latest processing trends we are going to estimate that there are roughly 1.2 million e-file and paper returns that still need to be processed and should be around the half a million mark once the new tax season starts.

For those of you waiting on those amended returns to be processed we did get reports from several of our viewers who reported that there amended returns were adjusted at the end of the year. At this point we are estimating there are still 500,000 unprocessed amended returns remaining and those will in fact not be completed till February or March based on the current processing trends.

Now turning to the 2023 tax season as we are still awaiting word from the IRS on when it will officially begin though it is widely expected to be either January 23rd or 30th with the tax season officially ending on April 18th.

For you early filers claiming EITC and CTC please remember the IRS by law cannot process your tax returns and issue refunds until Mid-February.

We have been getting viewer questions already asking whether or not this is true, and yes, it is true and is a result of the path act which requires verification of those claiming those specific tax credits.

Realistically we expect those refunds stemming from EITC and CTC to start going out in late February but most likely early March as a result. So again, keep in mind if you do file early the IRS will keep your tax return on hold until they can proceed.