The IRS has announced that the nation’s tax season will begin Monday, January 24, 2022 and reminded taxpayers who are claiming certain tax credits their refunds won’t be available until the first week of March.
In an attempt to reduce fraudulent returns, the IRS, by law, will delay refunds for taxpayers claiming the refundable Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). As a result, taxpayers who claim these credits should not expect their refund before the first week of March. Taxpayers who choose direct deposit and have no issues with their tax returns can expect EITC/ACTC related refunds to be available in their bank accounts or on debit cards starting the first week of March.
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