The IRS will begin to release the Earned Income/Additional Child Tax Credit (EITC/ACTC) refunds around the first week of March 2021.
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What you need to know about your tax refund:
- This new law requires the IRS to hold the entire refund (even the amount not associated with the EITC or ACTC)
- Refunds likely won’t arrive in bank accounts or debit cards until the first week of March
- Use the Where’s My Refund? link to check out your daily status
- Possible deposit dates for early EITC /ACTC refund filers may be available a few days around Feb. 22nd
- You will most likely not see your refund until the week of March 1st
- Your funds may take longer to appear in your account depending on the financial institution (remember that most financial institutions do not process payments on weekends or holidays)
If you enjoyed this article, then you’ll love these:
- Best Rules for Claiming a Dependent on Your Tax Return
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- Do I Need to File a Tax Return?
- How to Choose the Best Filing Status
- Top 12 Things You Must Know About the New Tax Law
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Until the next money adventure, take care!
Disclosure Statement: All data and information provided on this site is for informational purposes only. The Handy Tax Guy makes no absolute representation to the correctness, mistakes, omissions, delays, appropriateness, or legitimacy of any information on this site. **Note: Each client circumstance will vary on a case by case basis**
(Original Article Date: January 31, 2017/Updated November 30, 2020)