ST. LOUIS (KMOX) – You certainly know if you’ve already filed your taxes – some refunds have been intentionally delayed.
Andy Phillips with H&R’s Tax Institute says it’s because of the high rate of fraud involving the Earned Income Tax Credit (EIT) and the additional Child Tax Credit.
“The IRS indicates that approximately one in five EIT payments are made in error, and in fact that EIT earned income credit has one of the highest improper payment rates of any tax benefit available from the IRS,” Phillips says.
The IRS is set to release millions of refunds on Tuesday. However, it still may take until the end of the month to receive your refund.
(TM and Copyright 2017 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2017 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)