Child tax credit refunds could be issued within “a matter of weeks” if a new bipartisan tax package is enacted, IRS Commissioner Danny Werfel told lawmakers on Capitol Hill during a hearing on Feb. 15.
Speaking with lawmakers on the Ways and Means Committee, Mr. Werfel said that under the roughly $79 billion tax cut package, which passed the House overwhelmingly in a 357-70 vote in January, he would work diligently to ensure that refunds are issued within six to 12 weeks.
The Tax Relief for American Families and Workers Act of 2024 directs the IRS to process refunds “as expeditiously as possible.”
Read Full Article Here