Early Tax Filers: How Child Tax Credit or EITC Could Mean a Refund by March 1
Some early tax filers already received their income tax return, but if you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), there’s a longer wait. Hopefully not much longer, though.
Refunds that include these credits can’t be issued until mid-February, The Motley Fool reported. The IRS needs time to verify eligibility and prevent errors and fraud. However, some filers who claimed these credits could see a refund as soon as March 1, 2022.
If you claimed the EITC or ACTC, you can expect your refund by March 1 if you filed your return online, chose to receive your refund as a direct deposit, and the IRS found no issues with your tax return. The Motley Fool also noted that it could take a few extra days for your bank to refund payment.
To get a better idea of when to expect your refund, you can use the ‘Where’s My Refund?’ tool on IRS.gov and the free IRS2Go app. The IRS will regularly update these tools with projected deposit dates for most early EITC/ACTC refund filers. You can also use these tools to track your tax refund even if you file later in the season.
According to the IRS, you can check the status of your refund within 24 hours after your e-filed tax return is received or four weeks after mailing your paper return. If it has been 3 weeks or more since you filed electronically or 6 weeks since you mailed your return, you can call the IRS for more information about your tax refund.
More From GOBankingRates