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Effective January 1, 2017: Some Refunds Will Be Delayed!

Refund Art - Form 1040This action is driven by the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) that was enacted Dec. 18, 2015, and made several changes to the tax law to benefit taxpayers and their families. Section 201 of this new law mandates that no credit or refund for an over-payment for a taxable year shall be made to a taxpayer before Feb-15 if the taxpayer claimed the Earned Income Tax Credit or Additional Child Tax Credit on the return.

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By C Fitts Tax Solutions, LLC Posted in Tax Talk