Jackie StevensJackie Stevens

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Posted 1/12/2017

IRS To Delay Refunds to People who Qualify for EIC and other Credits

The Internal Revenue Service announced today 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.

Good news for most people but there will a lot of delays this year.

The IRS reminds taxpayers that a new law requires the IRS to hold refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until Feb. 15. In addition, the IRS wants taxpayers ...to be aware it will take several days for these refunds to be released and processed through financial institutions. Factoring in weekends and the President’s Day holiday, the IRS cautions that many affected taxpayers may not have actual access to their refunds until the week of Feb. 27.

Don't shoot the tax preparer. We have no control over when the IRS will release your funds. The IRS is trying to prevent fraud so you will have to be patient if you are expecting a refund this year