2016 Income Tax Delay Incoming
In 10 days, the IRS will begin accepting 2015 Tax Returns. This is exciting news because this is one day earlier than 2015 tax season. Unfortunately due to IRS and state tax authorities, your 2016 Income Tax Refund will most likely be delayed.
Illinois announced this week that they will not begin issuing 2016 Illinois Tax Refunds until March 1st, 2016. Full story. The goal is for the Illinois Department of Revenue to have more time to verify 2015 Illinois Tax Returns. This is not due to budget concerns of the Illinois government as reported by other sites.
The 2016 Income Tax Delay is caused by the increase in tax fraud and identity theft. A spike in suspicious income tax returns during the 2015 tax filing season led to new efforts from the IRS, state tax authorities and the tax preparation industry to cut down on income tax refund theft during the 2016 tax season, which starts on Jan. 19.