It's tax time, and many individuals and families are eager to receive a tax refund. With rising costs due to inflation, any bit of extra money can make a big difference. Are you expecting a refund but have yet to see the funds hit your bank account? Some taxpayers can expect their tax refund in the coming days. Here's what you need to know:
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Some taxpayers are eligible for a refund and receive their refund payments quickly. But that's not the case for all. For those who claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), there is a longer wait to receive a refund payment.
By law, refunds that include these credits can't be issued before mid-February. The IRS needs additional time to verify eligibility and prevent errors and