Tax Season Preparation

It’s officially tax season, but before you start to collect receipts and check boxes, there are a few changes to be aware of.
This year, early filers may see a delay in their tax refund. According to the IRS, the Protecting Americans from Tax Hikes Act requires the IRS to hold refunds on tax returns claiming the earned income tax credit or the additional child tax credit.
As a result, the IRS will start to release refunds on February 15th. This could mean the money won’t arrive in your bank until the week of February 27th.
The delay might be an inconvenience for many, but it gives the IRS more time to detect and prevent tax fraud.

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