The Internal Revenue Service (IRS) has urged taxpayers to file their returns as the official deadline approaches. Some users who qualify can also receive up to $1,700 in tax refunds in the following days, starting in February.
Who is eligible to receive up to $1,700?
The refund is for individuals who qualify for the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (CTC), according to Marco’s report. For the CTC, the amount can be around $1,700 per qualifying child.
It applies to individuals with earned income within the IRS limits, having a Social Security number and filing a federal return for the 2026 tax year. It is important to note that children must also meet the age, relationship and residency criteria.
When will the refund take effect?
People who filed electronically and chose direct deposit typically see their refunds appear between late February and early March, while paper refunds can take a few weeks longer to process. If they have already submitted their return, they will not be refunded until mid-February.
A step-by-step guide to requesting a refund
Here are the steps you need to take to claim your IRS refund –
Step 1: File your federal return using the correct form and ensure your tax credits are claimed accurately. For income tax credit with children, complete the relevant schedule with family details.
Step 2: Submit your application electronically and choose direct deposit, as the IRS says it’s the fastest and safest way to get your money.
Step 3: Thoroughly verify your personal information, declared income and bank details, as errors in these details are often the main reason for delayed refund payments.
Step 4: Track your payment status through the official IRS refund finder, which is updated daily during tax season.
Tax filing season in the US
The deadline to file your tax return is April 15, 2026, popularly known as Tax Day in the US.
What happens if you miss the deadline for filing your tax return?
Missing the deadline for filing a tax return on April 15, 2025 can lead to several penalties and consequences. Taxpayers who fail to file their 2025 tax return may be subject to a non-filing penalty of 5% of unpaid taxes after credit. This penalty is imposed each month or part of a month that the refund is delayed and can be applied for up to five months.
If you file your taxes more than 60 days late, you may face a penalty of 100% of the taxes owed or up to $485, whichever is less.
Additionally, you may be subject to a non-payment penalty, which is lower, around 0.5% of your unpaid taxes. This penalty applies monthly until it reaches a maximum of 25% of your unpaid balance.