Cedamichigan.org



NOTICE TO ALL Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) Filers. Due to a new law, your refund may be delayed until after February 15, 2018. File as you normally would, or go to a free tax site, but just be prepared for this delay. For more information, talk to your tax preparer, go to or visit Things EITC/ACTC Filers Should Know:File as you normally do. You do not need to change the way you file your tax return, including where you get your taxes done.The delay applies to all methods of tax filing – at a VITA site, by a commercial tax preparer, or self-preparation. No one can provide your refund before February 15. There are no exceptions.Beware of offers of loans against delayed refunds, such as a loan on a refund claim based on a?year-end paystub?instead of a W-2. Loan fees are expensive and the return may be inaccurate without all income information, but the loan must be repaid.While the delay applies specifically to tax filers claiming the EITC and ACTC, it will affect your entire refund, including refunds for over withholding or other tax credits. You cannot receive a partial refund.Everyone is not affected by the delay. Taxpayers claiming the EITC and ACTC who file returns after February 15 will not be impacted. Early filers not claiming the EITC or ACTC and refunds for over withholding or other tax credits will not be held. Once you file, you can check the status of your federal tax refund through the IRS?Where’s My Refund??tool at: refunds.WHY IS THE DELAY HAPPENING?On December 18, 2015, Congress passed the PATH (Protecting Americans from Tax Hikes) Act which made over 20 tax provisions permanent, including tax credit expansions to the?EITC,?ACTC, and American Opportunity Tax Credit that were set to expire in 2017. The PATH Act also requires a change in the issuing of EITC and ACTC refunds. As a result of this law, beginning in 2017, no refund will be made to a taxpayer before February 15 if the taxpayer claimed the Earned Income Tax Credit or Additional Child Tax Credit on the return. This will allow the IRS to verify income reported on those returns since employers are now required to file W-2 forms and 1099s by January 31 (previously they had until March). Most refunds are expected to be issued within 21 days of processing. If the IRS identifies significant mismatches between the income information provided on the return and provided by employers, there can be additional delays as the IRS seeks to resolve the mismatch. ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download