The Internal Revenue Service has notified the tax return season began January 23 , 2017 and the filing deadline is April 18, 2017.
It is still highly recommended to file through e-file or direct deposit since they are still considered the easiest and most secure way to receive a refund. Taxpayers should also be prepared by having their year-end tax statements at hand and plan to file their taxes ahead of time.
Although, refunds won’t necessarily come early this year since some tax refunds are expected to be delayed. Why?
In 2016, Congress passed a law that requires the IRS to hold back refunds tied to the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) until February 15. This hold allows the IRS to match information from W-2 and 1099 forms with information. In the previous years, refunds were released before forms were matched and increased the possibility of fraud.
Therefore, Taxpayers should expect their tax return until the week of February 27, 2017.
For more information on Tax Returns, visit https://www.irs.gov