IRS Update

Hi Everyone,

Just as an FYI, I did receive this from the IRS today regarding clients that qualify for the earned income credit and additional child tax credit:

“Effective in 2017, a new law requires the IRS to hold all Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds until Feb. 15. This is likely to affect some returns submitted early in the tax filing season.”

In short, there will be a longer waiting time for a refund if your refund is in part or whole due to the EITC or ACTC.