If you claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) on your tax return, the IRS must hold your refund until February 15. This new law requires the IRS to hold the entire refund — even the portion not associated with EITC or ACTC. This change helps ensure that you receive the refund you are owed by giving the agency more time to help detect and prevent fraud.
I think that this is ridiculous. I have claimed the same dependents for 6 years. There should be no reason for them to hold my return. And they say it's to protect me??? I don't see how this is protecting me. Pain in the a** if you ask me.
The IRS is expected to release a historic amount of refunds in the middle of this coming week.
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