Sat Feb 01 11:00:00 UTC 2025: **IRS Launches New Online Refund Tool Amidst Tax Season and Potential Staffing Changes**
NEW YORK (AP) — Tax season is officially underway, with the IRS expecting 140 million returns by the April 15th deadline. To assist taxpayers, the agency has introduced a new online tool, “Where’s My Refund?”, allowing individuals to track their refund status. The tool updates daily and requires the taxpayer’s Social Security or Individual Taxpayer Identification Number (ITIN) and the calculated refund amount. Electronic filings are expected to process within 21 days or less, while paper returns may take four weeks or longer. The IRS cautions against relying on specific refund dates.
Potential disruptions to IRS staffing are a concern, following President Trump’s offer of a buyout package to federal employees. The impact on tax processing remains unclear.
The IRS also highlights eligibility for the Earned Income Tax Credit (EITC) and Child Tax Credit. EITC requirements include income limitations (e.g., $18,591 or less for single filers with no children) and under $11,600 in investment income. The Child Tax Credit offers up to $2,000 per qualifying child under 17. Further details on eligibility are available through the IRS website.
Finally, the IRS expanded its free Direct File program, now available in 25 states, allowing taxpayers with simple W-2s to file directly with the agency. The program, piloted last year, facilitated over $90 million in refunds.
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