Tax refunds are going to be delayed for filers claiming these tax credits - CNBC
Early filers who claim the earned income tax credit or the additional child tax credit may not get their money until the first week of March.About 275,000 taxpayers had their payments delayed last year due to a new fraud filter.Millions of households that hustled to get their tax returns to the IRS early could be waiting until March for their refunds.
If you're claiming the additional child tax credit or the earned income tax credit, the IRS cannot issue your refund before mid-February. An anti-fraud law requires the agency to use that additional time to review those returns in an effort to prevent refunds from being issued to scammers. That means these families could be waiting until the first week of March before their refund hits their bank accounts.
Last year, more than 19.2 million tax returns claimed the additional child tax credit, while nearly 25 million returns took the earned income tax credit, according to IRS data through July 25, 2019.
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