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For Earned-Income Credit Filers, Refunds Will Be Later
Source:
nytimes.com
- Jan 5, 2017
Millions of families who claim certain tax credits now must wait several weeks longer to receive their federal income tax refunds because of a new law aimed at reducing fraud.
The delay will affect people who claim the earned-income tax credit or the additional child tax credit, which benefit lower- and moderate-income working people.
The Internal Revenue Service is now required to hold refunds from returns that claim the credits until at least Feb. 15. But because of the timing of weekends and the Presidents’ Day holiday on Feb. 20, the agency said, filers most likely won’t be able to get their money until Feb. 27.
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Category: General Business
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