Get ready for 2017! Tax filing season begins January 23rd for Nations Taxpayers
On Friday the IRS announced that the nation’s tax season will begin January 23rd, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds.
It is to be once mentioned that the IRS will hold refunds claiming the Earned Income Tax Credit and the Additional Child Tax Credit until February 15th due to new tax laws. In addition, the IRS wants taxpayers to be aware it will take several days for these refunds to be released and processed through financial institutions. Factoring in weekends and the President’s Day holiday, the IRS cautions that many affected taxpayers may not have actual access to their refunds until the week of Feb, 17.
For this tax season, it’s more important it’s more important than ever for taxpayers to plan ahead. People should make sure they have their year-end tax statement in hand, and we encourage people to file as they normal 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 smooth filing season for taxpayers.