Yes, you read the headline right, there are two possible claims that could put your tax refund on hold this year. The Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) are both impacted by the Protect Americans from Tax Hikes (PATH) Act – we have an acronym for the government – WTF?
Why Is My Refund Being Withheld?
The Act does not allow the IRS to issue these refunds before mid-February and the law requires the IRS to hold the entire refund.
When Can You Expect Your Refund?
The IRS expects EITC/ACTC refunds to be available by the first week of March – IF – it doesn’t have any additional questions about your returns.
It’s safe to say the early bird gets the worm does not apply to your taxes!
