The IRS has announced that the income tax filing season, so called “tax season,” will start a little later than usual this year. According to an IRS press release, “the nation’s tax season will begin Monday, Jan. 29th, 2018.” This is a bit later than the start of last year’s filing season which started on Jan. 23rd.
The announcement went on to remind taxpayers claiming certain tax credits, such as those claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC), that refunds won’t be available before late February, and that the nation’s tax deadline will be April 17th this year, which means taxpayers will have two additional days to file beyond April 15th.
The Service had announced in November that it was still updating its systems to prepare for the 2018 filing season. The delay in the start of the filing season and extension of the filing deadline is so that the agency can be sure to be ready for the impact of new tax legislation, which prompted the updates.
How MBAF Can Help
No matter when tax season begins, it is always best to start gathering your information now, and to file your returns as early as possible. We can accept your information, and prepare your returns even prior to January 29th, and can file them for you as soon as the IRS system is open. The earlier you file your returns, the quicker you will receive your refund, and the less likely you are to become a victim of fraud, by someone filing a false return in your name.
At MBAF our tax and accounting professionals, stand ready, willing and able, to help you file your taxes as early as possible, and in complete compliance, while still minimizing your tax obligations, and maximizing your income.
At MBAF we are at the forefront of all of the new tax legislation, and the changes and opportunities they create. If you would like to benefit from our expertise in these areas, or if you have further questions on this Advisory, do not hesitate to contact our Tax and Accounting specialists, or call us at 1-800-239-1474.