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How soon can I get my tax refund? 5 things to know

Susan Tompor, Detroit Free Press on

Published in Home and Consumer News

Got your 2017 tax return filed yet?

OK, you still have some time. But here's a reminder that the tax season just kicked off Jan. 29, as the Internal Revenue Service began accepting returns.

The deadline this year is April 17.

Many tax software companies and tax professionals began accepting returns a few weeks ago and will now submit those returns as the IRS systems open.

Here are five things you need to know early in the tax season:

1. How soon can I get my tax refund?

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Under the law, the IRS cannot issue refunds before mid-February for returns claiming the Earned Income Tax Credit and the Additional Child Tax Credit. The earliest those related refunds could show up in bank accounts or on debit cards could be Feb. 27.

Still, tax experts say if you have the paperwork to file early in the season, don't wait.

The IRS issues most refunds in less than 21 days, although some require additional time.

2. What is the Earned Income Tax Credit?

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