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Path Act & Delayed Tax Refunds

The Path Act & How it Affects your Tax Refund

Due to the Path Act tax refunds are being delayed. The IRS expects that the earliest that EITC/ACTC related refunds will be available in taxpayer bank accounts or on debit cards is February 27, 2018, for direct deposits when there are no other issues with the tax return. Be advised the IRS has 7-21 days to process your tax refund before releasing your refund. For updates, you can check www.irs.gov for your current refund status, this site is updated once a day so checking multiple times will not update your status faster, and in some instances, the IRS will lock you out for checking too many times in a day.

THE PATH ACT passed in 2015 includes some changes to the tax law that affect tax filers tax returns. It includes changes to two tax credits:

The Additional Child Tax Credit (ACTC): The refundable portion of the Child Tax Credit (CTC)
The Earned Income Tax Credit (EITC): A means-based refundable tax credit that can be worth more than $6,000

 

Watch this video for a full understanding of The Path Act

 

 

Gabrielle M. Daniel
Vice President
SOS 1040 Plus, LLC
Ph: 330-836-2100
Fax: 330-319-3030
www.sos1040.com

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