IRS Makes Up Lost Ground Issuing Refunds
Wolters Kluwer - Standard Federal Tax Reports (Page 4)
After a delay in the issuance of refunds early in the fi ling season, the IRS has made progress in getting refunds into taxpayers’ hands, recently-posted statistics show. Nevertheless, the number of refunds issued has declined by nearly six percent as of March 10, compared to the same time last year. Take Away. Based upon the Protecting Americans from Tax Hikes Act of 2015, the IRS was holding all earned income tax credit (EITC) and additional child tax credit (ACTC) refunds until February 15, 2017 in an attempt to combat identify theft and tax fraud, Patrick Daly, CPA, who serves on the Taxation of Individuals Committee, New York State Society of CPAs, told Wolters Kluwer.