These two tax credits could delay your refund from the IRS

Core Insights - The IRS is warning taxpayers that refunds for those claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) may be delayed until after mid-February, affecting the timing of refunds [1][2] - Taxpayers can expect to receive their refunds no earlier than March 2, with potential delays extending the typical refund processing time from 21 days to as long as 36 days [2][3] - The IRS has transitioned to electronic payments for refunds, eliminating the option for paper checks, which is aimed at reducing costs and fraud [4] Tax Credits and Refunds - The EITC can provide refunds of up to $649 for taxpayers without children and over $8,000 for those with three or more children, depending on income and other factors [2] - The ACTC can increase refunds by as much as $1,700 per child [2] Payment Methods - The shift to electronic payments was initiated by an executive order to save government costs, with electronic payments costing approximately 15 cents compared to 50 cents for paper checks [4] - Approximately 20% of taxpayers still receive refunds via check, often due to lack of bank accounts among certain demographics [5]