Tax season begins January 23rd, and the earlier you file, usually, the earlieryou ll get your refund.
However, if you claim the Earned-Income Tax credit or the Additional Child Tax Credit, the IRS warns of a slightly delay.
In a press release, the IRS announced:
The IRS reminds taxpayers that a new law requires the IRS to hold refunds claiming the Earned Income Tax Credit EITC and the Additional Child Tax Credit ACTC until Feb. 15.
In addition, the IRS wants taxpayers to be aware it will take several days for these refunds to be released and processed through financial institutions.
Factoring in weekends and the President s Day holiday, the IRS cautions that many affected taxpayers may not have actual access to their refunds until the week of Feb. 27.