Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Direct Tax »
Open DEMAT Account in 24 hrs
 GSTR-3B deadline expired: File now to avoid input tax credit loss, GST registration cancellation
 ITR Filing: Income tax department shortens time limit for condonation of delay What it means for taxpayers
 CBDT launches campaign to intimate taxpayers on undeclared foreign assets in ITR
 ITR AY2024-25: CBDT launches campaign for taxpayers to report income from foreign sources
  CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
 CBDT weighs overhaul of designations for income tax officials to secure better clarity
 Direct tax-GDP ratio at millennial high in FY24
 CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
 Tax filing: How to choose the right ITR form
 Income Tax Return: How to maximise your tax refunds while filing ITR?
 Last date for filing income tax return (ITR)

Tax refund checks are finally in the mail
February, 18th 2017

Early taxpayers who've had their refunds delayed by the IRS will now get their checks.

If you qualified for the earned income tax credit or the additional child tax credit, and you turned in your return early — considering tax season started on Jan. 23 — the IRS started distributing refunds on Feb. 15.

Assuming there are no issues with processing your return, you'll likely see your refund the week of Feb. 27. This can be a hefty sum of money, considering the average refund was $2,860 for the 2015 tax year, according to the IRS.

A new law requires the federal agency to delay the entire refund for households that file early and claim the earned income tax credit or the additional child tax credit.

This gives the IRS more time to detect phony returns and keep refunds out of scammers' hands.

"The IRS is trying to be more careful about refunds," said Ed Slott, a CPA and founder of Ed Slott and Co. in Rockville Centre, New York. "Identity thieves file fake returns early and collect the refunds."

Thieves have a variety of ways to snag your personal details, including impersonating the IRS on the phone or sending emails with malicious links.

Often, the victim of a tax refund scam doesn't figure out what's going on until he or she tries to file and the IRS rejects the return.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting