Millions of Americans have not received tax refunds, despite the fact that they are owed the refund by the IRS. In fact, it is believed that nearly 35 million tax refunds have not yet been processed. 

The pandemic has created an increase in the workload of taxing agents due to the stimulus package, as well as causing numerous delays. The combination of the two has led to unprocessed refunds and millions of people left without their tax returns. Due to the unprecedented increase in workload, the IRS has been requesting that people stop calling with questions or complaints, and instead turn to the internet where most issues can be addressed. 

Here are the reasons your tax refund may be delayed:

  • Your bank account information is incorrect.
  • The IRS is holding your return because you claimed the Earned Income Tax Credit or the Additional Child Tax Credit.
  • You had other debts and your refund was used to pay for them.
  • Your refund is being reviewed for more information by the IRS. 

The IRS has developed a tool for checking on your tax refund. You can use the tool to find information about your tax return and potentially determine why your refund has been delayed.  

Using the “Where’s my Refund” Tool

If you need to check on your tax refund, you can access the “Where’s My Refund” tool. Once you are on the website, you will put in the information that you’re asked to provide. This should help you narrow down the reason for your delay. 

You can also use the tool to check and see if your return is missing or if it has been stolen. If you determine that it’s missing or stolen, you can report it to the IRS. 

On the “Where’s my Refund” website, you will be able to check your bank account information and look into the potential reasons for the delay. 

You should receive a letter from the IRS that explains the reason for the delay if your delay is due to credits such as the recovery rebate, the Earned Income Tax Credit, or an additional child tax credit

IRS Treas 310

Tax returns that are distributed through direct deposit are typically labeled IRS Treas 310. This label is a means of identification for the IRS, showing that the tax refund will be in the electronic payment form. 

The label can also represent tax adjustments or refunds from tax-free unemployment benefits. Keep in mind, though, that a label of 499 means that you had a delinquent debt that your tax refund has been used for. 

If your tax refund is delayed, you typically won’t need to take any additional action. In the unlikely event that the IRS does need something else from you, they will contact you with a letter. Any other forms of communication that seem to be from the IRS could be fraudulent, as the Internal Revenue Service will use letters in their communications with taxpayers

Is IRS Treas 310 the Stimulus Check?

While a direct deposit from the IRS labeled IRS Treas 310 could be your stimulus check or Economic Impact Payment, it could also be a couple of other things. Economic Impact Payments, basic tax refunds, including amended or adjusted tax returns, and Child Tax Credit advance payments, will all contain the IRS Treas 310 label.

In order to determine what your direct deposit is for, you will want to check out the code that goes along with the label. 

If your payment is the stimulus check or Economic Impact Payment, it will carry the code “TAXEIP3”. The three in the code refer to this payment being the third round of stimulus payments

The code for a basic, amended, or adjusted tax refund is simply “TAX REF”.  For advance payments of the Child Tax Credit, the code will be “CHILDCTC”. 

It can be confusing to keep track of your direct deposits from the IRS, especially with so many payments being issued lately. With all of the direct deposit payments coming through with the same label, keeping track of which payments you have received and which ones you haven’t, can be difficult. 

Fortunately, the accompanying codes can help you differentiate between payments in order to keep track. Some of these payments may come rapidly, one after another, while others may have weeks between deposits. Using the codes can clear up confusion and help to keep you on top of your tax payments

Why Did I Get a Deposit from IRS Treas 310?

If you have had a payment from the IRS deposited into your bank account, you may be wondering what it is for. The label on the payment will give you a basic idea of the purpose of the deposit. If your payment is labeled IRS Treas 310, your payment is for one of three reasons; an EIP, an advance Child Tax Credit payment, or a tax refund

You can determine the reason for your payment by checking the code that accompanies the IRS Treas 310 label. Codes include TAXEIP3, CHILDCTC, and TAX REF. The code on your direct deposit will show you what your payment is for.