New Federal Tax Law May Affect Some Refunds Filed in Early 2017

The Internal Revenue Service has announced initial plans for processing tax returns involving the Earned Income Tax Credit and Additional Child Tax Credit during the opening weeks of the 2017 filing season. The IRS is sharing the information now to help the tax community prepare for the 2017 season, and plans are being made for a wider communication effort this summer and fall to alert taxpayers about the changes that will affect some early filers.

To comply with the law, the IRS will hold the refunds on EITC and ACTC-related returns until Feb. 15.

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