Drake Software blog for tax pros, covering tax, IRS news, and more

Coming to Bank Accounts Soon: EITC and ACTC Refunds

Coming to Bank Accounts Soon: EITC and ACTC Refunds

The first of many refunds claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) should make their way to their respective taxpayers very soon. The Internal Revenue Service says some returns have cleared the verification process and could appear in bank accounts this week.…

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IRS Issues Refund Reminder

IRS Issues Refund Reminder

As part of the Avoid the Rush tax tip series, the IRS yesterday reminded taxpayers about Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refund delays. In addition to how weekends and Presidents Day fall on the calendar this year, one reason refund checks for returns claiming these credits will be delayed is the Protecting Americans from Tax Hikes (PATH) Act.…

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IRS Pre-Holiday Reminder: 2017 Refunds Will be Delayed

IRS Pre-Holiday Reminder: 2017 Refunds Will be Delayed

The Internal Revenue Service issued a press release Tuesday to remind taxpayers that 2015’s PATH Act will delay 2017 refunds. The delay comes from an anti-fraud, anti-theft provision in the act that slows down the refund process to better review returns claiming the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC), which will not be issued until at least February 15, 2017.…

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