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2020 Pathers EITC/ACTC Update here
Alright, it’s another year. If you have EITC and/or ACTC please provide your details and updates here.
Filed: 1/20 using TT
EITC/ACTC
Accepted: 1/21
WMR: One bar so far...topic 152.
macuser_22Answer
Alumni - Champ
January 29, 2020
Expert Reviewed
It is what it is. No matter what you think the IRS probably can careless as they make the rules. Not trying to be rude but be thankful you're getting money back to begin with. Waiting an extra week or two shouldn't make your financial work collapse. Or you could go live in a 3rd world country where they take taxes and give nothing back.
@caron1981 wrote:
It is what it is. No matter what you think the IRS probably can careless as they make the rules.taxes and give nothing back.
Just a slight clarification. The IRS does NOT make the rules. It is called the PATH ACT, because it was an act of Congress, (a law) that made the "rule which is a law. The IRS only applies and enforces the law that Congress passed.
The reason for the delay is to allow time for the IRS to receive W-2's and other forms to verify income before blindly paying claimed refunds that are based on that income in order to prevent tax fraud by claiming refunds that are based on income that does not exist. Claiming fake income to get EIC/ACTC credits was a high runner tax fraud prior to the PATH ACT.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
