If you claimed the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) on your 2024 tax return, here’s what you need to know about your refund timeline! The moment we’ve all been waiting for is almost here! 💰 If you’re claiming EITC/ACTC, you might think your refund will update immediately after the…
Category Archives: PATH ACT
IRS PATH ACT
Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold. According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue these refunds before mid-February. The IRS expects the first EITC/ACTC-related refunds to be available in taxpayer bank accounts or on debit cards…
The PATH Act: What It Is and How It Affects Your Taxes
Nearly every taxpayer with dependent children could be impacted by the PATH Act at some point. In addition to other tax-related provisions, the PATH act affects two extremely common tax credits: the Earned Income Tax Credit and the Additional Child Tax Credit. Here’s what every taxpayer should know about the PATH Act: What is the…