Tax Refund Delays For Those Using Earned Income Child Tax Credits

January 11, 2017

© Sparkia | Dreamstime

If you use the earned income tax credit or the additional child tax credit when filing your taxes, your refund will take a bit longer this year.  The IRS says that identify thieves have been using taxpayers’ personal information, sometimes going as far as to steal their W-2s and past tax returns to claim refunds on their behalf. They estimate about $3.1 billion has been claimed in fraudulent refunds in 2014.  So the Internal Revenue Service says they will be scrutinizing tax returns claiming these credits more closely and therefore causing returns to begin in late February for the earliest filers. Progress has been made in blocking fraudulent refunds, but that’s why it needs to delay those returns, even if it means delaying payments.

SOURCE: Associated Press

See and hear more from the 98.5 KTK Morning Show with Storm, Janie and Chris