Tax season kicked off on January 29th, but don’t fret if your refund hasn’t arrived in the usual 21 days. There are several reasons for delays, but you can always check its status online. For those claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC), hold tight – these refunds are typically issued after February 15th. So, breathe easy, and remember, you can track your refund’s progress with a few clicks! (99 words)
Tax season is rolling, and while most folks see their refunds within 21 days of filing, there’s a different timeline for Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) claimants. Mark your calendars for February 27th, as that’s when the IRS expects to release most of these refunds.
Why Is Your Tax Refund Delayed? Well, the IRS Can Do It
The wait is due to legal requirements, but you can track your refund status online anytime for peace of mind. Remember, even if you fall into the EITC/ACTC category, there’s a light at the end of the tunnel: your refund is on its way!
Introducing a new initiative this year, the IRS has launched the pilot service called IRS Direct File, initially available in select states, including California. This online platform guides you through the tax return preparation process with a comprehensive step-by-step checklist, offering the convenience of filing directly with the IRS online at no cost.
For a broader reach, the IRS Free File program is also accessible, providing taxpayers with the opportunity to prepare and submit their tax returns online using user-friendly tax preparation software.
Nationwide assistance for free tax preparation is extended through IRS volunteers, catering to individuals with an income below $64,000 and those aged 60 and above.
Members of the U.S. Military and certain veterans are eligible for complimentary tax return preparation assistance through the MilTax program, administered by the Department of Defense.
What If I Don’t File My Taxes On Time?
The IRS anticipates a filing surge, projecting over 128.7 million tax returns to be submitted by the April 15 deadline. Notably, Maine and Massachusetts residents have an extended deadline until April 17, owing to the Patriot’s Day and Emancipation Day holidays.
For those who seek an extension, October 15 marks the conclusion of the tax filing season as the final due date for those who have filed for an extension. If you fail to complete your tax return on time, consequences may arise. Late filing can result in penalties and interest accrual on any outstanding taxes owed. It’s crucial to be aware of the potential repercussions and, if needed, explore options such as filing for an extension or setting up a payment plan to avoid unnecessary financial complications.