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Delays in Tax Refunds
The IRS typically starts a new tax season with an average of 1 million unprocessed returns from the prior year. Unfortunately, this year there are over 6 million. This number could lead to major delays in Americans receiving their refunds. As of January, the IRS says that most Americans should get their refunds within 21 days of filing. However, if you claimed the Earned Income Tax Credit or the Child Tax Credit, your refund may be delayed due to regulations designed to deter fraud. Filing early could still leave you waiting until March!
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