On December 18, 2015, President Obama signed legislation called “Protecting Americans from Tax Hikes” Act of 2015, or the PATH Act for short. 
The PATH Act contained many extensions and changes to existing tax laws. The Act also included a provision which will delay refunds for certain taxpayers. The IRS is now required to not issue a refund to anyone claiming the Earned Income Tax Credit or the Additional Child Tax Credit until February 15. Both of these refunds are considered “refundable credits,” which are essentially treated as additional tax payments, and can reduce one’s tax liability below zero. More, the PATH Act was enacted to give the IRS more time to review refund claims, in an effort to reduce fraud and catch refunds that may be improperly issued.
Do you have questions about the PATH Act, your refund, or income tax preparation? Let's talk! Contact me at btheofilos@zinnerco.com or any of the professionals here at 216.831.0733. We're ready to start the conversation and end the confusion.
Barbara Theofilos, CPA, MBA
Barb Theofilos, CPA, MBA, a Tax Services Supervisor, has served our business, not-for-profit and individual clients for over ten years with the preparation and filing of IRS Forms and working closely with management teams to gather the required information and coordinate the approval process. When she’s not reading and deciphering Federal and State code, tax rules and industry regulations, Barb enjoys time with her young son reading monosyllable books.
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