Tax Refunds Will Be Delayed Until February 15, 2017

The IRS has announced that all refunds involving the Earned Income Tax Credit (EITC), and /or the Additional Child Tax Credit (ACTC) will be delayed.  To comply with new Federal law, The PATH ACT, the IRS is prohibited from releasing tax refunds until February 15^th.

Who Is Affected?

This situation is nationwide.  More than 30 million taxpayers will be will have their income tax refunds delayed.  This includes you if you claim the Earned Income Tax Credit or Additional Child Tax Credit on your tax return.

• The IRS will hold the entire refund. Under the new law, the IRS cannot release the part of the refund that is not associated with the EITC or ACTC.

• The refund delay will allow additional time to help the IRS prevent and combat identity theft and refund fraud related fabricated W-2 wages and withholdings.

 What Should You Do?

 File your return as you normally do.  The IRS encourages you to file your tax return as you normally would.  Once the season starts they will begin processing returns and start to release refunds beginning February 15^th.

Now, more than ever, it benefits you to have the dedicated assistance of a tax professional who is familiar with the changes and laws associated with the PATH ACT, as well as other tax law changes that may affect your income tax refund.  We know you have a choice when choosing a tax professional.  Choose SKILL-Tax to help guide you through all of the tax changes and get you the largest refund that you are entitled to.

Are you interested in getting a refund advance loan?  Check back here for details later.

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