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…
Did you know about 27 percent of Earned Income Tax Credit returns are paid in error? According to the IRS, the five most common errors account for more than 60 percent of erroneous claims. Remember, EITC preparers have due diligence requirements or questions you must ask your client, to determine eligibility for the credit. Errors…
The Internal Revenue Service announced Monday that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million individual tax returns expected to be filed in 2017.…
