That is not known at this time. The IRS normally does not start accepting Federal tax returns until mid to late January.
Any notices would be posted on the IRS website here - https://www.irs.gov/newsroom/irs-statements-and-announcements
If you are referring to a tax return with the Earned Income Credit or the American Opportunity Credit, YES. It isn't really a "delay", because the IRS is not ALLOWED to start issuing refunds until after February 15th.
Yes ... it is a delay to the taxpayer but it is really a mandate to the IRS. Rules were changed to reduce the fraud in the system ... so the effected taxpayers need to plan accordingly.
Ok good. I hope they're getting a handle on cheaters! I don't get EIC anymore but my children do for my grandbabies. So Feb.15 is when they'll start accepting forms? Thank you for answering
The IRS accepts the forms earlier, so you should file as early as possible, in case of other delays or problems. The refunds just can't be issued until February 15th (which means people usually won't get the refunds until the end of February) if the tax return has one of those two credits on it.
The IRS usually starts accepting tax returns in mid-to-late January.
Thank you TaxGuyBill. I personally got my refund about a week after I filed last year,but both my daughters took longer.
With the Equifax hack having been done...there may be further delays implemented by the IRS.
They will certainly need to do something to prevent massive fraud this coming year...so no promises can be made.
Oh that's right SteamTrain-I forgot all about that breach! You are right...prob even more precautions this year!
Sadly the effects of that situation will be felt for years to come as the stolen info is usually stored for a couple of years and used after the one year monitoring stops and the info isn't "hot" anymore.
Those theft delays could change...with millions of people locking their credit files, the jerks may just start trying to use the info before the credit files get all locked up.
Gosh Critter2 that's gonna be bad news for the low-earners who get eic.
SteamTrain that's what happened to the early filers last year- theirs ended up taking longer than the people who waited to file. I told my daughters that (because I usually do all of ours early on TurboTax) we needed to wait. I filed as soon as IRS actually started accepting and we got ours back relatively quickly. Mine was fastest because I don't have eic anymore.
Well ... for all those who get those refundable credits ( which is really a disguised welfare program sewn into the income tax system) they will need to plan on not getting anything at any certain time then they will not be disappointed by the delay. I know many people say they want "their" money but it is NOT "their" money until it is in their hands. IMHO ... the income tax system became corrupted by these large credits and it is about time that something is done about it and unfortunately it will hurt the innocent bystanders.
Folks can always change their withholding so that they don't have wait until tax time for a refund.
Also be aware that Congress is considering tax law changes.
True Critter2...but its difficult to wait for the refundable credits when you're grossing less than $19,000 and raising kids. For me-when I was getting eic-it was akin to almost drowning and just keeping my nose out of the water till I got the money to catch everything back up and pay a little ahead because I lived and worked in a resort town where the winters are long and hard Lol!
Yes ma'am SweetieJean but it seems like that amount split up over the whole year doesn't help as much as you'd think some years. That is good advice though. And you're right-changes may be coming!
Yes, I understand how much the EIC counts to the annual income for those in the most need however the credits were not always around and when they started they were no where near as large and people still seemed to make ends meet somehow.
Sadly these credits that were originally intended to help the working poor pay no federal, SS & medicare taxes has morphed into a annual "lottery" winning that supplements 20% - 40% of their annual income ... again basically a welfare program that has no right to be written into the income tax code. The IRS has been tasked with administering this non tax program which they have struggled to do with less and less funding each year. We will have to see what the new administration will do about these issues in the coming years.
Yes Critter#2 I see your point-and its a valid one. I'm sure changes are coming down the pipe with President Trump. You are right-we all got by before those credits,but I personally am glad they were there for me. The most i can do now is help my kids the best I can. I still don't earn much,but it goes farther now that I'm only supporting myself so I help my kids make ends meet.
That is not known at this time. The IRS normally does not start accepting Federal tax returns until mid to late January.
Any notices would be posted on the IRS website here - https://www.irs.gov/newsroom/irs-statements-and-announcements
Yes ... that is a permanent delay to be expected every year from now on ... read last year's notice on that matter ...