2016 Tax Season Now Open
Following a review of the tax extenders legislation that was signed into law, the IRS announced that the nation's tax season will begin as scheduled on Tuesday, January 19, 2016
The IRS will begin accepting individual electronic returns today. The IRS will begin processing paper tax returns at the same time. It is possible that some federal and state forms may not be available yet preventing some returns from being able to be filed at this time.
The filing deadline to submit 2015 tax returns is Monday, April 18, 2016, rather than the traditional April 15 date. Washington, D.C., will celebrate Emancipation Day on that Friday, which pushes the deadline to the following Monday for most of the nation. According to the IRS, 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.
Disclaimer: The items included in the Tax Tip Tuesday Video Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advise contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.