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So I went to bed last night having convinced myself that we would have an update this morning. I woke up this morning to…. WMR’s lovely PATH Act message – no changes whatsoever. So I’ve decided to take some time this morning to try and look at the POSITIVE aspects of this process (no easy feat).
So the answer is … YES! The PATH Act is not actually a bad thing. Waiting sure sucks a whole lot, but that’s only one very small part of the PATH Act. The PATH Act includes tons of stuff. It’s something like 275 pages long. For the average taxpayer, it protects us in a couple of ways.
First, it makes permanent the thresholds for our tax credits. Prior to 2009 these thresholds were much higher. The PATH Act permanently cut this limit by more than half. And these thresholds do not change for inflation, as they did prior to the PATH Act. This means that they can’t just raise the limits for us claiming tax credits each year. It ensures that we will continue to be able to claim the EITC and ADCTC credits in the future. It also did the same sort of limit decreases and lock ins for couples filing jointly as well as increased the earned income tax credit for anyone claiming more than three children.
Second, the reason for the holds is to try and mitigate the number of fraudulent returns being filed. They were paying out millions in false returns and these false returns were seriously affecting many people who would go to file and find out someone else had stolen their filing info. I’m not sure how effective their process is… Because let’s be honest, the federal government is not that great at anything it tries to do. But that is the purpose of the hold.
Nobody likes to wait for their money. But it’s also important to keep in mind that the tax act is there for a reason. For those out there expecting big refunds… We’re talking both tax credits… The PATH act makes sure that we are able to continue to do so.
I hope this helps clarify. At least it helps me not feel so disappointed that I didn’t get an update this morning. Remember to stay positive and … Enjoy the PATH I guess 🙁
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i think they should do away with the ACT and let all the ones who do commit fraud get audited and weed em out like that. im not filing until after FEB 15 from now on.
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I received my DDD Saturday morning at 420a. I filed on 1.27.2020. It was accepted on 1.29.2020. Funds will be received by my bank no later than 2.26.2020. By process of elimination, I’m a weekly update. I hope this helps someone.
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@liznozzy
Wow you got lucky to get your refund.. Im still in the being processed mode… Smh.. Oh well just gotta roll with the punches… -
@lizzynoe
I’m just curious im still in “being processed mode”… Does anybody know how to check if your a weekly or daily.. -
Filed through Block on January 26th return was accepted by IRS on January 27th having refund directly deposited on my Emerald card as of today still says being processed I’m also path act who else filed with Block and still hasn’t received federal or state taxes my Block tax rep wrote on my paperwork I should receive my federal refund around the15th of this month so I’m really confused please help I’m going crazy lol
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I got my refund! I was path, filed 2/1 accepted 2/1
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My entire TT timeline has been filled in. What next??
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I for certain appreciate the PATH Act for personal reasons. 2 years prior to the PATH coming into effect, I was a victim of tax fraud ID theft. I didn’t find out until the following year that someone filed taxes in my name and that they received an extremely larger than normal refund. The experience is very scary. People laze around not working all year, and stealing others ID for the purpose of claiming money and credits from innocent people. I’m glad that this is happening. It protects us from thieves.
Now while I’m glad that it protects us, I’m angry that it had to happen. If only people would stop trying to claim credits and ID’s of the innocent, and get off of their lazy behinds and work an honest job, then we wouldn’t have to wait so long for our refunds to be processed. I’m not angry with the IRS….. I’m angry at the dishonest people that caused this to happen. -
Do I love it, about as much as having my wisdom tooth pulled (True story – hurt like hell). Is it needed – yes! I was affected by identify theft. It’s a new law here to stay. I say get used to it. I am here giving advice, enjoying the company, but very much patient. I do understand why so many need their money now. We can thank all the thieves and fraudsters.
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Well it was supposed to be a link to the path act pdf but they wont allow it.
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House.gov › docs › 121515….PDF
Protecting Americans from Tax Hikes Act of 2015 – House Docs -
Thank you!
And the wait from the time the IRS officially starts accepting returns in January until mid February isn’t even that long of a wait.
The PATH ACT does so much and is such a good thing. I wish people would take the time to read the ACT in full. They actually have a summarized version available that outlines the main points like cliff notes.
I work for a CPA and the tax is so complicated and prior to the PATH ACT fraud was such a huge issue.
People here aren’t likely to agree with you. They seemed obsessed with the idea that the government is keeping their money as punishment instead of doing a public good by passing laws that not only protect them but do so much more. The PATH ACT has protections for those with wrongfully convicted, employers, etc. so much in that law.
A good time to remind everyone to look at your W-4 with your workplace and make sure that you exemptions are correct. Make adjustments so you get more throughout the year and can pay those bills you are struggling without instead of having to wait until the February. Sure you will still get a refund but it will be less and you extra in your paycheck. Don’t give the government a larger interest free loan. They don’t have to return it on your time. It could conceivably be tied up for years. Meet with a CPA. Some charge as little as $25/$50 and it is a good investment.
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And I remember before late 1980s you had to mail your returns in wait time average 6 to 8 weeks. Now 21 days. That’s funny.
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