GREENSBORO, N.C. — It's two months until Tax Day and the IRS has a warning for you: Don't call the agency. President's Day weekend begins the peak time for calls to the IRS. For the next two weeks, you're likely to be on hold. This is why the IRS points you to its website and the Tools page.
You can look at the most common topics including how to file, how to file electronically, how to upload documents, where to look for your refund or make payments, and how to handle the credits and deductions on the tax forms.
Here's a question people may be asking right now: If I claimed the Earned Income Tax Credit or the Additional Child Tax Credit on my tax return, when can I expect my refund?
This may be getting a lot of attention right now because even if you filed early, and you're waiting, The IRS cannot issue refunds for the EITC or the ACTC until mid-February, with most refunds not hitting taxpayer accounts until late February-- like February 27, 2024.
If you've filed for these credits and you're waiting, this is why.
When it comes to tax refunds from the IRS, the timeline is said to be 21 days but CNET looked at the IRS data and found the IRS issued $3.6 Billion in tax refunds in the first week. And by February 2, 2024, the IRS had issued 2.6 million refunds and the processing didn't even start until January 29, 2024, so that was a five-day turnaround.