Saturday, June 11, 2016

** IMPORTANT UPDATE** For Practitioners Dealing with EITC and ACTC

Starting in 2017, a new law has passed requiring the IRS to hold all refunds for people receiving a refund due to the Earned Income Tax Credit and the Additional Child Tax Credit.


Refunds will not be issued until February 15 for these individuals. A lot of people rely on these refunds, so you should make your clients aware of these changes for next tax year.


Relevant Citations:
https://www.irs.gov/for-tax-pros/new-federal-tax-law-may-affect-some-refunds-filed-in-early-2017

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