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Planning Ahead This Tax Season

With the pandemic still in high gear, It's possible to experience delays this year as we did in 2021.

According to the IRS website (www.irs.gov) If you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), you can expect to get your refund by the first week of March if:

  • You file your return online

  • You choose to get your refund by direct deposit

  • We found no issues with your return

Additionally, your financial institution may need time to accept your direct deposit or issue a debit card. Many institutions don’t process payments on weekends or holidays. So, if you file early, be aware of federal and local holidays that may affect how soon you get your refund.

Why They May Hold Your Refund By law, the IRS can’t issue your refund before February 15. This includes your entire refund, not just the part that’s related to the credit you claimed on your tax return. If you claim the EITC or ACTC, we may need more information from you about your return. If we do, we will send you a letter.

How to Track Your Refund Check the status of your refund:

  • Where’s My Refund

  • IRS2Go app

The IRS update these applications for most early EITC/ACTC filers with an estimated deposit date by February 22 if you file your taxes early. Both applications are updated once a day, usually overnight. Protecting Americans from Tax Hikes (PATH Act) The Protecting Americans from Tax Hikes (PATH Act) made changes to the tax law:

  • Refund delays: If you claim the EITC or ACTC, we can’t issue your refund before February 15.

  • Social Security number: You, your spouse and all qualifying children or relatives you claim on your tax return must have a valid Social Security number that was issued before the due date of the year you’re filing for (including extensions). This rule also applies to EITC claims you make when you amend your return or file an original return.




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