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Tax season 2017 - Refunds for certain tax returns may be delayed!

January 21, 2017

Another tax season has begun, and as every year before has proven to us, there are new issues, new rules and new challenges that must be dealt with during tax preparation and filing. Not least of which is the on-going issue of taxpayer identity theft and tax fraud scams which have increased both in occurrence and sophistication.

The IRS, in their continuing efforts to combat these issues, has announced their new policies for processing all tax returns, especially those that are historically at high risk for fraud. These high risk returns include, but are not limited to, those that claim the Earned Income Credit (EIC) and/or the Additional Child Tax Credit (ACTC).

Taxpayers filing returns that claim either of these credits can expect significant delays in refund processing.

In fact, the IRS has stated clearly that it will not issue refunds for these types of returns until after February 15th, even if they are filed early in the season. And when filed after February 15th all taxpayers claiming EIC/ACTC should still expect longer processing timeframes with subsequent delays in any refund being issued.

And as we have seen in previous tax years, it is also possible that some returns (usually chosen on a random basis) can potentially receive official notices from the IRS requesting additional documentation to substantiate any claim before a refund is released. (Please note that the IRS will NEVER contact a taxpayer by email or by phone - IRS notices are only issued via standard mail and only on official IRS letterhead.)

To read more about the "delays on refunds" topic, please go to the IRS website here:

https://www.irs.gov/individuals/refund-timing

 

   

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