Here Are Some Updates About Tax Refund Delays, The Child Tax Credit, Earned Income Tax Credit, Etc.

Here is some new information about the tax refund delays, CTC, EITC, etc.

Claiming your CTC or EITC refund may cause tax refund delays as processes start on a later date. (Photo: My Federal Retirement)

Some Updates About The Tax Refund Delays

The IRS has distributed over $66.9 billion in refunds through the Child Tax Credit program. If you are one of the individuals who are experiencing tax refund delays, you can check the status on the IRS website.

Claims for the Child Tax Credit or Earned Income Tax Credit may cause tax refund delays, with processing usually starting in mid-February. Despite tax refund delays, most refunds should be in bank accounts or on debit cards by February 27 for those who filed with direct deposit.

According to a published article by SmartNews, the tax refund delays are to prevent fraudulent refunds, and filing taxes early is recommended.

A Possible Shutdown

In a published article by CNET, two deadlines are approaching for Congress to pass a $1.66 trillion federal spending deal before running out of money. If not approved by March 1 and 8, government agencies, including the IRS, could shut down. This could affect tax refunds if filed during the shutdown.

Congress has been unable to agree on a budget, causing short-term funding bills to keep the government running. The likelihood of a government shutdown in March depends on Congress passing a spending bill, with some uncertainty as Rep. Tom Emmer stated the House will not pass another short-term bill. Congress has passed three stopgap funding bills for this budget so far to avert a shutdown, potentially indicating they may act again.

READ ALSO: Colorado Department Of Revenue’s Online Tool To Let Residents Check The Status Of Their Refunds