Tax Refunds This Year, Child Tax Credit, Refund Delays, And Many More

Check out more details about the tax refunds this year as well as the child tax credits and other important announcements from the IRS.

As per the announcement, tax refunds this year may experience delays. (Photo: AARP)

Get To Know More About The Tax Refunds This Year

The IRS has issued over $66.9 billion in tax refunds this year. If you haven’t received your tax refunds this year yet, you can check the status of your return online.

Delays about the tax refunds this year may occur if you claim the child tax credit or earned income tax credit. The possible delay in terms of the tax refunds this year is due to the IRS waiting until mid-February to process these refunds.

Aside from the refunds this year, the child tax credit is announced to be up to $2,000 per qualifying child but is only partially refundable. The refundable portion, the additional child tax credit, is $1,600 this year.

Most tax filers should expect their tax refunds this year by Feb. 27 if they filed with direct deposit and have no issues with their return. You can check the projected deposit date of your tax refunds this year on the IRS’s Where My Refund tool.

According to a published article by SmartNews, the delay in tax refunds this year is to prevent fraudulent activity. It is recommended to file your taxes as soon as possible and you can do so for free with the IRS.

IRS Free File Program

In a published article by Fox 59, the IRS Free File program offers guided tax preparation software for online filing. Free tax preparation help is available for taxpayers making under $64,000 and those over 60 years old, and U.S.

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