IRS Funding for EITC returns & Clients effected by the Extenders Bill

The first large IRS funding for the tax season should hit this week, with early filed clients starting to see refunds posting as early as tomorrow evening. We suggest directing taxpayers to the IRS’ “Where’s My Refund” tool on the IRS’ webpage: www.irs.gov for information on their individual refund dispersal. Confirm that you have an adequate check stock supply, as this week and next week should both be large fundings that include early filed tax returns containing Earned Income Tax Credit and Additional Child Tax Credit.

Your clients’ returns that have been on hold waiting for the IRS to updated for accepting returns with Private Mortgage Insurance and Tuition and Fees deductions can now sent. Additional updates will be deployed over the next weeks to address the less common extender legislation.