Bookkeeping

Where’s My Federal Refund

Once you have filed your income tax return, the anticipation of when your refund will be received (for some) is a daily thought.  Taking in to consideration the manner in which you filed your return, paper or electronic, and are you waiting for a check refund or direct deposit, all are factors that should be taken into consideration.  “Choosing e-file and direct deposit for refunds remains the fastest and safest way to file an accurate income tax return and receive a refund.”

If you are expecting a refund based on a claiming EITC (Earned Income Tax Credit) and ACTC, (Additional Child Tax Credit) those refunds will not be released until Feb. 15th, and then you will need to take into the consideration, either the processing to and of your financial institution, or delivery via  postal service. You can utilized the app “IRS2Go” for a projected deposit date or “Where’s My Refund” on the IRS.gov site.  Refund information will not be available until after Feb. 15th.

Additional Info: www.irs.gov

2017 Federal Income Tax Filing Deadline

Tuesday, April 18, 2017 is the filing deadline to submit your 2016 individual tax returns.

Traditionally the deadline is April 15th,  this year the 15th falls on a Saturday.  When the filing deadline falls on the weekend the date gets pushed to the Monday following that weekend, but because of the holiday on Monday the 17th, Emancipation Day which is a legal holiday in the District of Columbia, the push to the next day of Tuesday gives the extra time to file.

Additional Info: www.irs.gov

2017 Federal Income Tax Filing Season

On Monday, January 23, 2017 the 2017 Federal Tax Filing Season begins. Individual tax returns are due Tuesday, April 18, 2017.

Your tax professional or tax filing service whether electronic or not, may accept your return prior to Jan 23rd, however, those returns are not submitted to the IRS until Jan. 23rd.

If you are expecting a refund due to the Earned Income Tax Credit (EITC) or the Additional Tax Credit (ACTC), your refund will be on hold until Feb 15, 2017.

Taxpayers changing tax software, who intend on filing electronically, will need their adjusted gross income from their 2015 return.  The IRS is no longer utilizing the Electronic Filing Pin as an option.

Additional Info: www.irs.gov