Income Tax Delay 2017: Refund Delay for Earned Income and Additional Child Tax Credit Q&A
The IRS have recently released more details on the delayed tax filing for EITC and Additional Child Tax Credit.
Tax Refund Delay for EITC and ACTC Question and Answer
Q. Will I get my tax refund back on February 15th if I filed Earned Income or Additional Child Tax Credit? Income Tax Delay 2017
A. No. You cannot expect a tax refund back if you filed EITC or ACTC until February 27th. (We estimate the 24th per our 2017 Refund Schedule.)
The IRS will begin to release EITC/ACTC refunds starting February 15th, 2017. However, the IRS cautions taxpayers that these refunds likely won’t arrive in bank accounts or debit cards until the week of February 27, 2017 — if there are no processing issues with the tax return and the taxpayer chose direct deposit. This additional period is due to several factors, including banking and financial systems needing time to process deposits.
Q. What can I do if I do not see an update to Where’s My Refund or get my tax refund by February 18th.
A. You may contact the IRS toll free line. 1-800-829-1040
“The IRS will staff its toll-free telephone service Saturday, Feb. 18, from 9 a.m. to 5 p.m., callers’ local time, and Monday, Feb. 20, from 7 a.m. to 7 p.m., callers’ local time. All IRS taxpayer Assistance offices will be closed Monday, Feb. 20, for Presidents Day.”
Q. Why is the tax refund being delayed for EITC and ACTC?
A. EITC and ACTC tax refunds are being delayed to allow for more security and fraud checks by the IRS. Basically to save the government some money.
Beginning in 2017, if you claim the EITC or ACTC on your tax return, the IRS must hold your refund until Feb. 15. This new law requires the IRS to hold the entire refund — even the portion not associated with the EITC or ACTC. Like previous years, some tax refunds may be held if there are questions about the tax return or the IRS needs more information.
Q. Does this impact the timing of the normal Child Tax Credit?
A. We have no official word from the IRS, but we must assume that this will also be delayed.
Q. Will this impact my state refund?
A. This should not impact your state refund because your state and the IRS handle your taxes completely seperate.
A. Only if you filed additional child tax credit.
Do you have other 2017 Tax Season questions? Check out our 2017 Tax Refund Frequently Asked Questions section.