This is just a friendly reminder about the new ta laws for EIC (Earned Income Credit) and the Additional Child Tax Credit (ACTC). You can still prepare and submit your taxes, but payments will not be sent out until Feb 15.
The IRS reminds taxpayers that a new law requires the IRS to hold refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until Feb. 15. In addition, the IRS wants taxpayers to be aware it will take several days for these refunds to be released and processed through financial institutions. Factoring in weekends and the President’s Day holiday, the IRS cautions that many affected taxpayers may not have actual access to their refunds until the week of Feb. 27.-I.R.S.