The IRS has started depositing refunds (and it’s not even Feb 15th!). Alas, if you are claiming “extra credit” for EIP3 (you didn’t get the full amount for Stimulus 3 last March) or CTC (your dependents changed from last year), you should expect a long delay. The IRS computers are pretty smart, but if they run into anything “unexpected”, they spit it out to a theoretically smarter (seriously!) IRS employee to review, and the IRS is still way behind from the last 2 tax seasons. I haven’t seen any state refunds yet, but that’s normal for mid-February, and I haven’t heard of any significant delays there.
New this tax season, we need to know the exact amount you received for EIP3 (Stimulus 3 last March) and ACTC (Advanced Child Tax Credit monthly starting last July). The IRS is supposed to send you letters with both these amounts, so either bring/send us those letters or confirm the amounts for us (you can do this by creating an account at irs.gov. Be warned, if the amount we report to the IRS on your tax return doesn’t match their computers, your tax return will be spit out to that theoretically smarter IRS employee and your refund will be delayed … muy mucho!
As always, feel free to call or email our office if you have any questions or concerns or just need help getting organized.