HUNTSVILLE, Ala. - The Internal Revenue Service wants to give taxpayers a heads-up, there may be a delay in your 2017 tax refund. For some early filers claiming the Earned Income Tax Credit and the Additional Child Tax Credit, the agency says a new tax law requires it to hold refunds until at least mid-February.
The organization is urging you to go to its website for a mid-year check-up, just click withholding calculator and enter the basic information from your current pay stub, this way you'll know where you stand so if your tax refund is delayed, you won't find yourself in a pickle.
"It gives people an idea, 'well I'm a little bit ahead right now, I'm looking at $1,000 dollar refund and you can kind of play with it a little bit and keep more of your money in your paycheck and reduce the amount of taxes that will be withheld every payday, therefore you'll have a little more money in your pocket and you won't be so dependent on that refund money, that is going to be delayed," said TaxCorp President Vern Gohanna.
A mid-year check-in will also help you avoid an unprecedented tax bill.
"It will let you know to the dollar how much tax your potentially going to pay in that following year," said Gohanna.