Lifting Of The PATH Act: Confirmed Direct Deposit For Taxpayers

Now that the PATH Act is lifted, direct deposits can now be received by taxpayers.

Direct deposits are confirmed to be received by taxpayers after the lifting of the PATH Act. (Photo: Patriot Software)

PATH Act Now Lifted

Taxpayers who claimed the Earned Income Tax Credit (EITC) with their tax refund for 2023 are confirmed to receive their direct deposit as early as February 27, 2024, since the PATH Act is now lifted. Now that the PATH Act has been lifted on February 15, the IRS has started processing these refunds.

The schedule for EITC refunds for 2023 has been released after the lifting of the PATH Act. The lifting of the PATH Act showed when taxpayers can expect their refunds to be sent via direct deposit or paper check based on when their return was approved.

According to a published article by NCB, after the PATH Act was lifted, taxpayers can now check the status of their EITC refund by visiting the ‘Where’s My Refund’ tool on the IRS website and entering their SSN, Tax Year, Refund Amount, and Filing Status.

After the filing of the PATH Act and after the refund is sent by the IRS, it may take up to 7-10 days to receive via direct deposit and up to two weeks via paper check.

Deposit Of Refunds

In a published article by CPA Practice Advisor, most early tax filers who are due a refund can typically expect to see their refund deposited by mid-to-late February.

This can be done without needing to use tax refund loans or other costly products. The IRS began accepting and processing income tax returns on January 29, 2024, with the deadline for filing being April 15.

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