The Internal Revenue Service is taking measures to better protect taxpayers from identity theft but that could delay refunds this year. Many companies across the USA are now trying to speed up the tax refund process. Angry taxpayers are not happy about the latest refund issues and are currently processing.
“The new IRS PATH Act went into effect this tax season. It’s holding all tax returns that have earned income credits and additional child tax credits. They’re holding and matching with W-2s until February 15th. That’s when the first tax returns will be released. So people with those are going to be getting refunds later, late February will be the first refund for those type of people.” Getting a tax resolution and refund can be difficult depending on your career. If you’re having difficulties getting a refund of your owed tax, check out tax-resolution-irs-tax-lien for more help.
Dewaine Gillott of Jackson Hewitt in Butler says that anyone with the earned income credit or additional child tax credit will be subject to the new wait under the new PATH Act.
Although these new measures will help detect certain kinds of fraud, according to Gillott, many people will continue to try to find loopholes in the tax system.
“They will catch fraud that way but there’s still so much other fraud of earned income credit. People claim kids that aren’t theirs and it just robs the IRS of millions and millions of dollars.”
Tax filing season begins on January 23rd and returns will be accepted through April 18th.
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