TAX SEASON WIL BEGIN!!!!!!!! : Update(Al Dia)

TAX SEASON WIL BEGIN!!!!!!!!

by CDoris Rodriguez on 12/12/16

The Internal Revenue Service said Friday that next tax season will begin on Monday,
Jan. 23, 2017, while warning some taxpayers to expect longer waits for their tax
 refunds. The tax day deadline will be April 18.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The IRS said it would start accepting electronic tax returns on January 23 and it
anticipates more than 153 million individual tax returns to be filed next year.
The IRS believes more than four out of five tax returns will be prepared electronically
using tax preparation software, as was the case last year.
However, even with the January 23 start date, the IRS also pointed out that many
 software companies and tax professionals will begin accepting tax returns before
that date and then they'll submit the returns when the IRS's systems open. The IRS
will also start processing paper tax returns on January 23. The IRS noted there
is no advantage to filing tax returns on paper in early January instead of waiting
until January 23 for the IRS to begin accepting e-filed returns.
The IRS also reminded taxpayers that a new law will require the agency to hold back
tax refunds claiming the Earned Income Tax Credit and the Additional Child Tax Credit
until February 15.
The IRS wishes taxpayers to be aware it will take several days
for these tax refunds to be released and processed through financial institutions.
Factoring in weekends and the President's Day holiday, the IRS is warning many affected
taxpayers may not have actual access to their tax refunds until the week of February
27.
"For this tax season, it's more important than ever for taxpayers to plan ahead,"
IRS Commissioner John Koskinen said in a statement. "People should make sure they
have their year-end tax statements in hand, and we encourage people to file as they
normally would, including those claiming the credits affected by the refund delay.
Even with these significant changes, IRS employees and the entire tax community
will be working hard to make this a smooth filing season for taxpayers."

The Internal Revenue Service said Friday that next tax season will begin on Monday,
Jan. 23, 2017, while warning some taxpayers to expect longer waits for their tax
 refunds. The tax day deadline will be April 18.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The IRS said it would start accepting electronic tax returns on January 23 and it
anticipates more than 153 million individual tax returns to be filed next year.
The IRS believes more than four out of five tax returns will be prepared electronically
using tax preparation software, as was the case last year.
However, even with the January 23 start date, the IRS also pointed out that many
 software companies and tax professionals will begin accepting tax returns before
that date and then they'll submit the returns when the IRS's systems open. The IRS
will also start processing paper tax returns on January 23. The IRS noted there
is no advantage to filing tax returns on paper in early January instead of waiting
until January 23 for the IRS to begin accepting e-filed returns.
The IRS also reminded taxpayers that a new law will require the agency to hold back
tax refunds claiming the Earned Income Tax Credit and the Additional Child Tax Credit
until February 15.
The IRS wishes taxpayers to be aware it will take several days
for these tax refunds to be released and processed through financial institutions.
Factoring in weekends and the President's Day holiday, the IRS is warning many affected
taxpayers may not have actual access to their tax refunds until the week of February
27.
"For this tax season, it's more important than ever for taxpayers to plan ahead,"
IRS Commissioner John Koskinen said in a statement. "People should make sure they
have their year-end tax statements in hand, and we encourage people to file as they
normally would, including those claiming the credits affected by the refund delay.
Even with these significant changes, IRS employees and the entire tax community
will be working hard to make this a smooth filing season for taxpayers."

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