IRS says certain taxpayers can expect a refund by March 1
IRS expects all refunds to be issued within 21 days of filing the return this season
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The Internal Revenue Service says most taxpayers waiting on refunds who claimed either the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) on their 2021 returns can expect to have the money by Tuesday.
1040 income tax form and w-2 wage statement with a federal Treasury refund check. Closeup with selective focusing. (iStock / iStock)
MORE THAN HALF OF AMERICANS WORRIED ABOUT TAX REFUNDS
Under the Protecting Americans from Tax Hikes Act, known as the PATH Act, early filers who claim either the EITC or ACTC can see a delay in receiving refunds, because the law seeks to give the IRS more time to process such returns given that identity thieves often claim one or both of the credits.
A man enters the Internal Revenue Service (IRS) building in Washington, D.C., U.S., on Friday, May 7, 2010. (Photographer: Andrew Harrer/Bloomberg via Getty Images) (Andrew Harrer/Bloomberg / Getty Images)
Due to the PATH Act, people who claim EITC or ACTC cannot receive their refunds before mid-February. But this tax season, with the backlogged agency facing greater delays than years past, the IRS says most individuals who claimed either or both on their 2021 returns should receive their refunds on March 1 provided that they filed their returns online and chose to receive the funds via direct deposit.
The reflection of a pedestrian is seen walking past an Internal Revenue Service (IRS) office building in the East Harlem neighborhood of New York. (Photographer: Timothy Fadek/Bloomberg via Getty Images / Getty Images)
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The IRS expects all refunds to be issued within 21 days of filing the return this season, barring holdups such as the agency finding errors on the return or flagging it over identity theft or fraud concerns.