Tax law change could keep you waiting for your money

It all has to do with the Earned Income Tax Credit

Amherst, Mass. (WWLP) – Certain lower income individuals qualify for The Earned Income Tax Credit. That tax credit can increase the size of your refund. But this year, recipients will have to wait a little longer than usual.

In past years, early filers could receive their money by February 1st., but a tax law enacted in late 2015, called the PATH Act mandates that the IRS won’t issue refunds before February 15th.

“It’s good and bad for taxpayers; it’s good because it helps to eliminate fraud and people stealing their information, it’s bad because they are having a delay,” said Ralph Guisti, President of Liberty Tax Amherst.

While the IRS will begin to release refunds starting February 15th, they caution taxpayers that they likely won’t arrive in bank accounts until February 27th. Guisti told 22News most tax refund recipients with a child will receive an average refund of $3,200.

Click here for more information on the PATH Act.

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