Well, tax season has officially started. The IRS has begun accepting both paper and electronically filed returns. Now the only problem we have is that anyone who receives the Earned Income Tax Credit or either version of the Child Tax Credits is going to have their refund delayed until after February 15th. This is due to Congress passing the PATH act of 2015.
The idea is to save the government money by cutting down on fraud. The idea is good, but most early filers are those that really could use the money they are due on their refund as soon as possible. The IRS wants people to still file as they normally would but to realize that their refunds will now be processed weeks later.
We believe that this puts an undue burden on the lower income taxpayers who need said refunds to pay bills, buy food for their children and just want to be able to provide for their families.
If you have any questions please feel free to give us a call or shoot us an email.