Hello everybody! I hope that you are all feeling good and staying warm. We are almost through the first month of 2020, which means we are well on our way towards tax season.
If you have claimed the Earned Tax Income Credit (ETIC) or the Additional Child Tax Credit (ACTC), you may experience a hold on your refund. This year the IRS can’t issue these refunds before mid-February. If you have direct deposit set up and there are no other issues with your tax return, you can expect your refund to be deposited in your bank account by the first week of March,
If you want to check the status of your refund, the Where’s My Refund tool on irs.gov and the IRS2Go app will be updated for most ETIC/ACTC refund filers by February 22.
Remember that E-filing for the 2019 tax year will open on January 27.
If you have any other questions about tax returns, accounting, or QuickBooks, call us at Stapley Accounting!