Nearly half of American taxpayers are somewhat or very dependent on receiving a tax refund from the IRS. The survey of 3,000 Americans and commissioned by H&R Block also found that if a tax refund was delayed, the biggest concern for one in four respondents would be not having enough money to meet required financial commitments like rent and bills.
The IRS is required to hold refunds for returns claiming the earned income tax credit (EITC) and additional child tax credit (ACTC) until mid-February. Approximately 30 million taxpayers claim the EITC or ACTC, with half filing early, which means as many as 15 million taxpayers could have their refunds delayed until mid-February.