The Internal Revenue Service (IRS) has announced that, despite the government shutdown, it will begin to process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.
The IRS also reminded us that the earliest refunds will be available for returns containing either the earned income tax credit (EITC) or the additional child tax credit (ACTC) will be February 27, 2019. This applies to the entire refund--even the portion not associated with the EITC and ACTC. The IRS expects the earliest EITC/ACTC related refunds for taxpayers who choose direct deposit to be available in taxpayer bank accounts or on debit cards starting on February 27, 2019, if there are no other issues with the tax return.
Disclaimer: The items included in the Tax Tip Tuesday blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.