As a result of a new law, the IRS will hold refunds for taxpayers who are eligible for the Earned Income Tax Credit (EITC) and Additional Child Tax Credit until February 15th. The IRS anticipates that after processing, people may receive access to their refunds the week of February 27th. To learn more, click here.
We encourage you to follow these steps so that you save money and can receive your refund at a timely date:
File your taxes as soon as possible. You can file your taxes starting Monday, January 23rd. The last day of this filing season is April 18th.
Locate a free, VITA tax preparation site. The following resources can help you find a location:
Boston Tax Help - This flyer lists VITA locations in 13 Boston neighborhoods and Quincy.
IRS VITA Site Locator - Enter your zip code to find free tax prep sites near you. All of the VITA tax preparation sites listed on the IRS website require appointments.
Prepare the documents for your tax appointment. Our tax preparation checklist can help you prepare for your appointment.
Beware of tax preparers who promise to get you a refund quicker. Taxpayers who qualify for the Earned Income Tax Credit (EIC) and Additional Child Tax Credit (ACTC) should expect a delay regardless of who files your taxes and the method used.
Beware of refund advances and refund loan products. Although these products promise to give you money sooner, you will most likely pay the loan back at a costly interest rate. Save the most money this tax season by filing as soon as possible waiting for your refund from the IRS and the state. You can schedule time with your financial coach to better compare your options.