Blog originally posted 1/4/2017
Happy New Year to everyone! With the start of a new year we also have the start of a new tax season. I’m going to keep you up to date with IRS and tax news as the tax season progresses.
Some Refunds Delayed in 2017
Due to changes in the law, starting in 2017, the IRS can’t issue refunds before Feb. 15, 2017, for returns that claim the Earned Income Credit (EIC) or the Additional Child Tax Credit (ACTC). Returns with the ACA Premium Tax Credit are also affected by this delay. This applies to the entire refund, not just the portion associated with these credits.
As in past years, the IRS will begin accepting and processing tax returns once the filing season begins. All taxpayers should file as usual, and tax return preparers should also submit returns as they normally do. Even though the IRS cannot issue refunds for some early filers until at least Feb. 15, the IRS reminds taxpayers that most refunds will still be issued within the normal timeframe: 21 days or less, after being accepted for processing by the IRS.