There are important changes that you need to know about before the 2018 filing season begins. This fall, the IRS launched a series of Get Ready communications and is conducting outreach to help you understand changes that may affect processing your tax return and when to expect your refund.
The Get Ready campaign covers several key areas that affect different taxpayer groups. Some taxpayers must renew an expiring Individual Taxpayer Identification Number. Taxpayer using a tax software product for the first time will need their adjusted gross income from their 2016 tax return to validate an electronically filed tax return.
In addition, taxpayers who claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) may experience a refund hold. By law, the IRS cannot issue refunds before mid-February for tax returns that claim the EITC or the ACTC. The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or debit cards starting February 27, 2018, if you chose direct deposit and there are no other issues with the tax return.
The IRS launched a new IRS.gov/GetReady page that provides information about these issues along with steps you can take now to be prepared when you file next year.