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It’s time to file your taxes again, and for many lake area residents, this year that could mean getting a huge refund. The Child-Tax-Credit has been greatly increased for the 2021 tax year, granting eligible families potentially thousands more in tax credits than in previous years. Deborah Tolbert, an enrolled agent with Friends Doin’ Taxes, LLC in Osage Beach, says there, however, are a few drawbacks to these increases.

“Typically there’s a limit on what the IRS will direct deposit, so if you’re going for a direct deposit you could possibly get a check for these bigger refunds. Typically its anything under $20,000, so anything over [$20,000] could kick it where they’re going to mail you a check, which is gonna take time.”

Tolbert also told KRMS News that with larger tax returns come more potential scammers trying to steal them.

“I’m recommending everybody and anybody to go on and setup an account with the IRS so they can go in and actually look at what’s been reported under their social security numbers.”

You can register for a free account here.