Por Bárbara Pérsico
En esta noticia
The Internal Revenue Service (IRS) reminds taxpayers that special refund rules apply to those who claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) when filing their tax returns.
Most refunds follow the IRS’s usual processing timeline, but those that include these credits work differently. By law, the agency must hold them for a set period, no matter how early or how a taxpayer files.
When will the IRS release refunds for people who claim the EITC or ACTC?
According to the Protecting Americans from Tax Hikes (PATH) Act, although tax season generally begins in January, when a taxpayer has claimed the EITC or ACTC the federal tax agency cannot issue any refund before the end of February.
It is important to note that, in these cases, not only is the portion of the refund corresponding to these tax credits withheld, but all refunds due to the taxpayer are withheld as well.
“This helps ensure that you receive the refund you’re entitled to and gives the IRS more time to detect and prevent errors and fraud,” the agency explains in a publication from the Taxpayer Advocate Service.
The IRS also says most of these refunds reach taxpayers’ bank accounts in the first week of March, as long as there are no other problems with the return.
How to closely track an IRS tax refund
Through the IRS online account, those who log in will be able to verify
- The status of their refund (available 24 hours after filing electronically, 3 days after if the return is for a prior year, or 4 weeks after filing by paper)
- The status of an amended return
This procedure can also be done from the IRS app or from the hotline (800-829-1954).