ALBUQUERQUE, N.M. (KRQE) – The IRS started accepting electronic returns on Monday, January 23, but millions of taxpayers may be in for a disappointment when it comes to their returns this year.
As many as 15 million taxpayers could have their refunds delayed due to a new law, Path Act. The IRS is now required to hold refunds for returns claiming the earned income tax credit and additional child tax credit until Wednesday, February 15.
H and R Block’s Tax Professional, Jacqueline Vigiliano, joined KRQE’s This Morning team to discuss the possible tax return delay.
The delay is allowing for the IRS to check for tax fraud.
For those who need their money sooner than expected, H and R Block is offering an interest-free loan up to $1250. E-filing will also get a faster return, up to two weeks quicker.
Those looking to track their money can visit IRS.gov or for more information, visit H&R Blocks website.