25 Jan 2017 Tax Filing Season Has Officially Opened
The IRS is successfully beginning to accept 2016 income tax returns with over 153 million returns estimated to be filed. You have until April 18,2017 to file your taxes before you have the IRS knocking on your door, unless you have already filed for an extension. The deadline to file your taxes for those who have been granted an extension is October 16, 2017. The IRS has extended its due date to file your taxes because the usual April 15 deadline is on a Saturday, which would be beneficial because it would give taxpayers until the following Monday, but April 17th, is a holiday. Last year, about 111 million dollars in refunds was issued to taxpayers, but the IRS expects more than about 70% of taxpayers to receive their refund in 2017.
If you experience a refund delay
Refunds are normally issued in less than 21 days, however a new law passed that now requires the IRS to withhold tax refunds for taxpayers who claimed Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) until February 15,2017. Even if some of the portion of the refund is not a part of EITC or ACTC, the IRS must hold the entire refund. This gives the IRS time to process the paperwork and detect and prevent fraud.
Let Tax Defense Partners file your tax returns
The IRS and State Taxing Agencies will not allow any Taxpayer to establish a formal agreement until all their returns are filed. Unless you file your 2016 Tax Return on time, you may be jeopardizing your current or future agreement. Don’t let the IRS get the upper hand.
If you secure Tax Defense Partners as your tax preparer right away you will get first pick on your tax preparation appointment day and time. Our expert tax preparation team will make sure you get every credit and deduction you deserve. Call us today to get started.