2020 Pathers EITC/ACTC Update here

[tiffluv81]

its getting ridiculous . But im here just to support. Also, not all taxes with EIC and etc isbeing held until 15th or after. As i mentioned i got mine yesterday so that debunks those people. Maybe i was lucky ... Maybe....

[nick112207]

@caron1981 don't get all worked up because I'm proof that's not always the case. 

It could have been a fluke but the 2nd year of the PATH Act being in place my refund was issued ON the 15th. In fact as I've stated a few times mine has not been a consistent date in the 3 years the PATH Act has been in place.

[Msu88]

I'm just going to put this out there. Seems like there's a lot of confusion. It says that the IRS cannot release refunds for people claiming the credits before February 15th. This does mean that yes on the 15th everybody could possibly see an update. nowhere does it say that the IRS has to hold the fence until after the 15th all it says is they cannot release them prior to the 15th of February. I'm not trying to get everybody's hopes up but there is a chance that yes an update will come Saturday possibly even Sunday because the IRS can update every freaking day. 

FISCAL POLICY  TAX LAWS

Protecting Americans From Tax Hikes (PATH) Act

By WILL KENTON

 Updated Jan 3, 2020

What Is the Protecting Americans From Tax Hikes (PATH) Act?

The Protecting Americans from Tax Hikes (PATH) Act of 2015 was created to protect taxpayers and their families against fraud and permanently extend many expiring tax laws. The law affects the timing of certain refunds for tax returns filed each year before Feb. 15. Additionally, the PATH Act retroactively extended the Work Opportunity Tax Credit (WOTC), included a new wrongful-incarceration exclusion, and required some taxpayers to renew their Individual Taxpayer Identification Number (ITIN).

if you need more clarification here is a statement pulled directly from the IRS. Gov website. Again no where does it say that they have to wait until after the 15th

Possible Refund Delay for Some Early Filers:

The PATH Act mandates that the IRS not issue a refund on tax returns claiming the Earned Income Tax Credit or Additional Child Tax Credit until Feb. 15. The additional time helps the IRS stop fraudulent refunds from being issued to identity thieves and fraudulent claims with fabricated wages and withholdings.

[erikanmares]

amen, you cannot predict the irs. Even when they state something. They probably always over estimate their own timing specifically so ppl dont bug them too early

[kevinnetzer]

Why not code 570?  That is on mine!  Should I worry now?

[caron1981]

@kevinnetzer 

TC 570 is a hard freeze for a pending account action. 

It means there is an issue they need to resolve before they release funds. 

When you TC 970 that's when the issue is resolved. 

I could mean alot of things but mainly it means wage verification and or credits taken that don't match. 

You should get a letter in the mail if it's something of that nature that they need more information from you. 

[ericka9491]

These forums are for us to help each other, so those who think they know it all or they copy and paste things doesnt necessarily make them true. just ignore the bad and belittling comments and lets keep talking about are taxes like we do every year. some things change some don't.  It states mid februray after the 15th doesnt mean they wont start processing on the 15th, there is always a possiblity we can update on the 15th or the 16th. 

We are all hoping for the same results. For a refund date, whether its next week or the week after. 

[3in3yrs]

What state do u live in

[Critter]

Extended Tax Credits Under the PATH Act

The PATH Act includes some good news for those looking to claim the Additional Child Tax Credit (ACTC). This refundable credit allows eligible families a significant break on their taxes — up to 15% of the income they earned above an initial threshold of $3,000. For example:

• If a family earned $40,000, the possible 15% refund would be applied to $37,000 (the amount left after the $3,000 threshold).
• While expiring tax laws would have raised this threshold to $10,000 (potentially lowering the available refund amount), the PATH Act keeps the threshold at $3,000 permanently.

Similarly, the PATH Act permanently increases the income phase-out threshold for the Earned Income Tax Credit (EITC) by $5,000 for those who are married or filing jointly. This means that couples who earned a few thousand dollars more than would have been originally allowed may now be eligible to receive the full EITC for their income bracket.

The Trade-Off: A Delay in Some Tax Refunds

Most people claiming the EITC and ACTC can expect an overall tax refund. However, the PATH Act stipulates that the IRS must withhold refunds for filers who claim these tax credits until February 15.

So if you file before February 15, you're owed a tax refund and you're claiming either the ACTC or EITC, your entire refund will be withheld until at least the February 15 deadline. This delay allows the IRS time to match information from individual tax returns with information on the W-2 forms from employers, which are sent to the IRS by January 31, as a way of preventing identify theft and fraud.

[ericka9491]

@Critter  thank you for that. 

clearly states til the 15th. 

[ericka9491]

@3in3yrs  i live in illinois

[kevinnetzer]

Im reading that code 570 is just a freeze on processing for EITC and once that passes the time frame needed by law then the refund should be released.  I have 2/24/2020 by code 150 and 2/24/2020 by code 570...but I have 4/15/2020 bu codes 766 and 768.  Are we sure that 570 is worse case scenario?

[ericka9491]

@kevinnetzer 

Code 570: Additional Liability Pending/or Credit Hold - Per IRS Transaction Codes. The IRS is in the process of matching forms they received for you and the ones you reported.

at the worst it could be you owe a debt but if not they are just confirming what you entered and what they received

[Critter]

Code 570:  Additional Liability Pending/or Credit Hold - Per IRS Transaction Codes

The IRS is in the process of matching forms they received for you and the ones you reported. Just keep an eye on it; it doesn't mean you're being audited and they should send you a letter if they find something they need more information about.

For more information, please see Section 8A - Master File Codes: https://www.irs.gov/pub/irs-utl/6209-section8a-2016.pdf

[toriwright93]

I can’t access my transcripts because the code is being sent to an old phone number. Is there a way past that ?