Delay in getting refund

This year, early filers might see a slight delay in their tax refund. According to the IRS, the Protecting Americans from Tax Hikes (PATH) Act mandates the IRS hold refunds on tax returns claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC).

As a result, the IRS will start to release refunds on Feb. 15, 2017, which means the money won’t arrive in your bank account or on your debit card until the week of Feb. 27. Keep in mind that financial institutions do not process payments on weekends or holidays. The delay might be inconvenient, but it gives the IRS more time to detect and prevent tax fraud.

Written by : Debbie

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