For 2020 tax returns only: The IRS has indicated your refund may take more than the normal 21 days if you:

⦿ claimed a Recovery Rebate Credit and the amount you claimed does not match what the IRS calculates you are eligible for.

⦿ applied the look-back rule to use your prior-year earned income to calculate your Earned Income Tax Credit (EITC) or the Additional Child

Tax Credit.  
If your return meets these criteria, the IRS will manually review your return, and it may take an additional 90 to 120 days to receive your refund. The IRS suggests that you continue to check the Where’s My Refund site for updates. You can find additional details on the IRS website.

Depending on the type of job you have, the IRS may receive copies of forms that validate your income – such as Form 1099-NEC or Form 1099-K. However, many small businesses, especially gig economy job workers that operate In cash, are on the honor system for reporting their income.
And with cash-intensive businesses, the IRS has few, if any, Forms 1099 to validate the income. It makes sense then, that every IRS audit of small businesses starts with scrutiny about whether the business reported all its income

Many small businesses put off filing because they can’t pay their taxes. Procrastinating like this causes many businesses to run up large tax bills and penalties. The failure to file penalty is 5% per month (or partial month) that the return is late. If you file your return more than 60 days late (including extensions), the minimum penalty is 100% of your unpaid tax or $435, whichever is smaller. As you can see, it’s better to file on time even if you can’t pay right away.
But you are allowed up to 3 years to file.

A portion (or all) of your refund was applied to an estimated tax penalty.     
        1.      You did not make required estimated tax payments.
        2.      You filed a tax return with a refund due.
        3.      The IRS sent CP30 to inform you that your refund was reduced because you were charged and estimated tax penalty.

Answers: July 15 kicked off a series of advance Child Tax Credit payments bringing financial relief to millions of American families. The new stream of money is part of changes from the March 2021 stimulus bill, which increased the value of the credit as well as the age limit. The CTC is now fully refundable, which means you can receive the credit even if you don’t owe the IRS. Child Tax Credit amounts will be different for each family
        1.      Your amount changes based on the age of your children. The payment for children:
        •       Ages five and younger is up to $3,600 in total (up to $300 in advance monthly)
        •       Ages six to 17 is up to $3,000 in total (up to $250 in advance monthly)
        2.      Your amount changes based on your income. You’re eligible for the full amount if your Modified Adjusted Gross Income is under:
        •       $150,000 for Married Filing Jointly or Qualified Widow(er)s
        •       $112,500 for head of household filers, and
        •       $75,000 for single and Married Filing Separate
A portion of your amount is reduced (“phases out”) by $50 for every $1,000 over the limits listed above.

No, the Child Tax Credit is not a loan. It is a refundable tax credit available to American children.   

Need to know how to check the status of your stimulus check? The IRS Get My Payment tool is now available for you to check the status of your payment. 
Get My Payment will only reflect a status once the payment has been issued. You cannot make any updates to your bank information.