What is the PATH act?

I n tonight’s Tax Tip Tuesday, we learn about the PATH act and how it affects your tax refunds.

PATH stands for protecting Americans against tax hikes. This is the second year it has been in existence. It was created in order to protect taxpayers and their families against extortion and permanently extend many expiring tax laws. Brian Watson, a special agent with the IRS, explains how some of you may see a delay in getting your money.

“If any return has the refundable credits for earned income tax credit or an additional child tax credit the earliest those refunds will be released will be at the end of February. So if you have a return, with one or two of those credits, just be prepared that it will take a little bit longer than normal and gives the government a little more time to detect that small amount of fraud that does exist,” said Watson.

This year taxes are due on April 17th and for any questions it’s always best to visit www.irs.gov or call a trusted tax preparer.