Carter Financial Services

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Largest federal funding of the year arriving soon

The IRS is releasing two large federal tax refund deposits to taxpayers Monday Feb. 23 and Wednesday Feb. 25. Here's what to expect.
Fast Forward and Green Dot Card payments issued 5 days early - Feb. 18 or 20
Refund payments to taxpayers that selected the Refund Transfer1 with Fast Forward2 direct deposit or a Green Dot® Prepaid Visa® Card3 will be available Feb. 18 or Feb. 20.Fast Forward checks will be ready to print as early as Feb. 18 or 20.

Refund payments to taxpayers that selected the Refund Transfer with a Green Dot card will be available Feb. 18 or 20.
Refund Transfer payments issued Feb. 23 or 25
Refund payments to taxpayers with Refund Transfer direct deposit will be available Feb. 23 or Feb. 25.Refund Transfer cashier's checks will be ready to print as early as Feb. 23 or 25.
Timing of PATH Act funding
See when clients will receive their federal tax refund deposits and when checks will be ready to print.

Happy September

PATH ACT FUNDING BEGINS SOON ‼️

The vast majority of returns will begin being available to the customer Monday, February 24th and Wednesday, February 26th.
Check print authorizations will be sent out as soon as they are available, the day before the effective date. Direct deposit transactions will be deposited into taxpayer and tax preparer bank accounts on the effective date.

EITC refunds for many available by March 3

The easiest way to check a refund's status is by using “Where's My Refund?” on IRS.gov or the IRS2Go app.

Many factors can affect refund timing after the IRS receives a tax return. Although the IRS issues most refunds in less than 21 days, the IRS cautions taxpayers not to rely on receiving a refund by a certain date, especially when making major purchases or paying bills. Some returns may require additional review and may take longer.

Under the federal Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before mid-February. “Where's My Refund?” should show an updated status by February 22 for most early EITC/ACTC filers. The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards by March 3 if they chose direct deposit and there are no other issues with their tax return.

Internal Revenue Service | An official website of the United States government Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

Unclaimed stimulus payments

If you didn't claim the Recovery Rebate Credit on your 2021 tax return and were eligible, you may receive a payment by direct deposit or check and a letter in January 2025. No action is needed. If you didn't file a 2021 tax return, find how to claim the 2021 Recovery Rebate Credit.

By law, the IRS cannot issue EITC refunds before mid-February. The IRS expects most EITC refunds to be available in bank accounts or on debit cards by March 1, if you chose direct deposit and there are no other issues with the tax return. Errors on your return will delay your refund.

Mark Your Calendars – January 27, 2025

Exciting news! The IRS has officially announced that January 27, 2025, is the first day they will begin accepting and processing individual tax returns for the 2024 tax year.

Additionally, the IRS will start accepting business tax returns on January 15, 2025—just two weeks before individual returns.

HAPPY 2025 TAX SEASON🎉