RefundtalkEvery spring, taxpayers across the USA gather their tax documents to file taxes and get that coveted refund check. The IRS issues tax refunds based on a tentative schedule they release in early January. Simply filing your tax return according to their schedule does not mean you get your refund exactly on time. Several factors…
Category Archives: Tax Refund Delays
Refund Timing for Earned Income Tax Credit and Additional Child Tax Credit Filers
The IRS will begin to release EITC/ACTC refunds starting Feb. 15. However, the IRS cautions taxpayers that these refunds likely won’t arrive in bank accounts or debit cards until the week of February 27 — if there are no processing issues with the tax return and the taxpayer chose direct deposit. This additional period is…
Here’s why millions will face tax refund delays from the IRS
The IRS is delaying tax refunds for more than 40 million low-income families this year as the agency steps up efforts to fight identity theft and fraud. The delays will affect families claiming the earned income tax credit and the additional child tax credit. These tax breaks are geared to benefit the working poor, and…
As Holidays Approach, IRS Reminds Taxpayers of Refund Delays
As the holidays approach, the Internal Revenue Service today reminded taxpayers to remember that a new law requires the IRS to hold refunds until mid-February each year for people claiming the Earned Income Tax Credit or the Additional Child Tax Credit. In addition, new identity theft and refund fraud safeguards put in place by the…
IRS to Delay Tax Refunds Involving EITC and ACTC Next Year
The Internal Revenue Service is warning tax professionals that next year a new law will require the IRS to hold all Earned Income Tax Credit and Additional Child Tax Credit refunds until Feb. 15 as a safeguard against identity theft and tax fraud. The IRS pointed out the new law is likely to affect some…
Advice on Avoiding Refund Delays
The IRS has released another in its series of reminders to ensure “smooth processing” of your tax returns and avoiding delay in refunds. Advertisement Among their tips: Have all relevant documents, such as W-2s and 1099s, before filing a return. Taxpayers may also need a copy of their 2015 return. Beginning in 2017, taxpayers using…
Tax Refund May be Delayed, But at Least You’ll Get It
Last year’s income tax season was marked by an explosion of refund theft. Will this year be any different? Increased protections may cut down on fraud but will likely draw out the wait for your money. Changes will be visible when you use tax preparation firms and filing software, with warnings akin to those from…
Tax Refunds Expected To Be Delayed
Taxpayers have both good news and bad news coming their way this year. First, the bad: Getting some refunds this year might take slightly longer than in prior years. So, what’s the silver lining? There may be less fraud than in the past, thanks to new strategies put into play by tax preparers, states, and…
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