2017 Employer W-2’s

Employers – Tuesday, January 31, 2017 is the deadline to send out W-2’s to your employees.  You can process your employee’s W-2 forms with your payroll service (most common practice), accountant or tax preparer.  W-2 forms mailed to employees must be postmarked no later than January 31st.  If your process and procedure is to provide electronic access to the employees W-2’s (many payroll services provide this service), then access to that information has to be no later than January 31st as well.  Make sure all communications are clear with your payroll service and your employees.

You may be a small company with only one or two employees and you process payroll in-house, you can utilize the SSA website to process and file forms electronically, or for anyone seeking additional information.

Employers are also required to file form W-3 (Transmittal of Wage and Tax Statements) along with Copy A of all W-2 forms issued for 2016 with the SSA.

Employees – You will need the information from your W-2 to submit your tax returns.  If you do not receive your W-2 form from your employer by the 7th of February, follow up with your employer immediately.  Upon receipt of your W-2, cross check the information against your final paycheck for 2016 to make sure your Year to Date (Year End) numbers match.  If there is any discrepancy, follow up with your employer immediately. Also, double check your social security number; a simple typo of one number can cause a whole lot of headache if not caught on time.

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.

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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.

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