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IRS Official 2016 Tax Return Acceptance Date Delayed

IRS Official 2016 Tax Return Acceptance Date Delayed

The IRS Official 2016 Tax Return Acceptance Date was delayed versus 2016 Tax Returns.

2016 Tax Returns filed next year will not be accepted until January 23rd, 2017. This is five days later than 2015 Tax Returns were accepted in 2016. See full story below:
The IRS will begin accepting electronic tax returns that day, with more than 153 million individual tax returns expected to be filed in 2017. This is the official first day to file taxes in 2017. Continue reading

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IRS Reminder: Some Tax Refunds Delayed Until February 2017

IRS Reminder: Some Tax Refunds Delayed Until Middle of February 2017

If you are claiming the Earned Income Credit (EITC) and/or the Additional Child Tax Credit (ACTC) in 2017, this is very important information for you.

The IRS would like to remind everyone that no matter when you file early in the 2017 tax season, the IRS will be delaying tax refunds for those who claim the Earned Income Credit as well as the Additional Child Tax Credit. Continue reading

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Anti-fraud efforts by the IRS lead to 2017 tax delay

Anti-fraud efforts by the IRS lead to 2017 tax delay

2017 Tax Delay imminent for some due to mounting fraud concerns by the IRS.Anti-fraud efforts by the IRS lead to 2017 tax delay

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IRS outage could cause 2016 Tax Delay

IRS outage could cause 2016 Tax Delay

Taxpayers filing their taxes online could face serious delays in getting a refund. IRS outage could cause 2016 Tax Delay.

An unspecified number of online tax processing systems, including the “Where’s My Refund” tool, were down on Wednesday as a result of a “hardware failure,” the IRS said in a statement.

Computer Problems at IRS Shut Down E-File System

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Tax Delay 2015: IRS chief warns of refund delays over budget cuts

Tax Delay 2015: More bad news coming from the IRS on Thursday. What does this mean to you?

UPDATE 12/29/2014. The Tax Delay is over. The IRS have announced the official start to Tax Season 2015. Read more.

IRS warn that due to budget cuts, we could face much longer delays from prior years. No 21 day expectation as in prior year. Budget cuts at the IRS could delay your tax refunds. This is regarding the amount of time between you file your tax return and it is accepted. This has nothing to do with the amount of time between your acceptance date and your tax refunded being direct deposited or check mail. Once again, 2014 Tax Returns will be not be delayed until October 2015. About half the people who call the IRS this filing season will not be able to get through to a real live person. Read more below. Check out my video regarding the 2015 Tax Delay below.

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2014 Federal Tax Rates and IRS Tax Brackets

2014 Federal Tax Rates, Personal Exemptions, and Standard Deductions

IRS Tax Brackets and Deduction Amounts for Tax Year 2014

Below are the tax rates and related numbers that you will need to prepare your 2014 income tax return, which is due by April 15, 2015.

Free Tax Filing 2015 – 2014 Tax Return1 Continue reading

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Tax Delay 2015: Bare-Minimum Tax Break Plan Won’t Get Senate Changes

Tax Delay 2015: Bare-Minimum Tax Break Plan Won’t Get Senate Changes

We are one step closer and then one step back from having the 2015 tax delay minimized. Your timely 2015 Tax Refund is in trouble still. IRS still claim that their could be a longer wait if the government doesn’t pass all of the needed 2014 tax breaks before the end of 2014. Details Tax Refunds Could Be Delayed in 2015. This has nothing to do with the fictitious post from a fake news site earlier in the year. Details regarding that are 2014 Tax Refunds Will Not Be Delayed Until October 2015. Tax Delay 2015. Continue reading

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Tax Refunds Could be Delayed in 2015

Tax Refunds Could Be Delayed in 2015 Much Longer than in 2014.

Americans might have to wait longer than usual to receive their tax refunds in 2015.

The IRS is waiting for lawmakers to act on expired tax provisions called extenders. If Congress fails to resolve the issue by the end of November, that could delay the 2015 tax season — and therefore push back the date when refund checks start to get cut and sent out.

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IRS Delays Start of 2014 U.S. Tax Filing Citing Shutdown

IRS Delays Start of 2014 U.S. Tax Filing Citing ShutdownThe U.S. Internal Revenue Service delayed the start of the tax-filing season for one to two weeks, citing the recent 16-day federal government shutdown.

The IRS, which had been scheduled to open filing Jan. 21, 2014, will now begin accepting returns for tax year 2013 as early as Jan. 28. The agency will make a final decision on the date in December, according to a statement today.

“Readying our systems to handle the tax season is an intricate, detailed process, and we must take the time to get it right,” Danny Werfel, the acting IRS commissioner, said in the statement.

This is the second year in a row that the IRS has postponed the filing season. Returns for 2012 were accepted starting on Jan. 30 after Congress delayed setting some tax policies.

“Considering the IRS has dealt with much larger changes on far shorter notice over the past years without delay, its reasons are suspect,” Sarah Swinehart, a spokeswoman for the Republican-led House Ways and Means Committee, said in an e-mail.

The IRS furloughed more than 90 percent of its employees during the shutdown, which began Oct. 1 when Congress was unable to pass a spending bill and ended after midnight Oct. 17.

‘Adds Insult’

“This is yet another unfortunate effect of a shutdown that Republicans should have never caused,” Representative Sander Levin of Michigan, the top Democrat on the Ways and Means Committee, said in a statement. “This tax-filing delay just adds insult to injury for Americans hoping to get a jump-start on their tax refunds in January.”

The delay won’t alter the April 15 deadline for taxpayers to file their returns or seek extensions.

At the start of the filing season, the IRS largely issues refunds to taxpayers who file as soon as they can. This year, the IRS issued $135 billion in refunds from Jan. 30 to March 1. That’s more than was paid from March 2 to May 10, when the agency received 50 percent more returns.

Delaying refunds could have an additional consequence in 2014. The U.S. debt limit is suspended through Feb. 7, and changes in the government’s projected spending after that date will affect the timing of how long the Treasury Department’s extraordinary measures to prevent a default will last.

Because the government may issue more refunds after Feb. 7 than previously anticipated, a potential lapse in borrowing authority could come a few days sooner than projected, said Loren Adler, research director at the Committee for a Responsible Federal Budget in Washington.

The delayed start of tax-filing season probably will create a backlog of potential returns for the start date, rather than delaying all returns equally.

“Those are folks who are trying to do this as soon as their books are in order,” Adler said.

The Bipartisan Policy Center projects that the U.S. will run out of borrowing authority between the end of February and mid-March 2014.

Discuss this and more in the Income Tax Forums.

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IRS Shutdown? Income Tax Deadline Remains In Effect

IRS Shutdown?

The October 15th Deadline Remains in Effect for Taxpayers Who Requested a Six-month Extension to File Tax Return.

Just because IRS employees are not available to answer phones or issue refunds, due to the current lapse in federal appropriations does not mean filing deadlines and payment due dates can be delayed.  IRS warns all taxpayers of the continuing requirement to meet their tax obligations as normal. Individuals and businesses should keep filing their tax returns and making deposits with the IRS, as required by law.

Many of the more than 12 million individuals who requested an automatic six-month extension earlier this year have yet to file their Form 1040 for 2012. Though Oct. 15 is the last day for most people to file, some groups still have more time, including members of the military and others serving in Afghanistan or other combat zone localities who typically have until at least 180 days after they leave the combat zone to both file returns and pay any taxes due. People with extensions in parts of Colorado affected by severe storms, flooding, landslides and mudslides also have more time, until Dec. 2, 2013, to file and pay.

The IRS offered several reminders for taxpayers during the current appropriations lapse:

  • Taxpayers are encouraged to file their returns electronically using IRS e-file or the Free File system to reduce the chance of errors.
  • Taxpayers can file their tax returns electronically or on paper. Payments accompanying paper and e-filed tax returns will be accepted and processed as the IRS receives them. Tax refunds will not be issued until normal government operations resume.
  • IRS operations are limited during the appropriations lapse, with live assistors on the phones and at Taxpayer Assistance Centers unavailable. However,www.IRS.gov and most automated toll-free telephone applications remain operational.
  • Tax software companies, tax practitioners and Free File remain available to assist with taxes during this period.

E-file Now – The IRS urged taxpayers to choose the speed and convenience of electronic filing. IRS e-file is fast, accurate and secure, making it an ideal option for those rushing to meet the Oct. 15 deadline. The tax agency verifies receipt of an e-filed return, and people who file electronically make fewer mistakes too.   Of the nearly 141.6 million returns received by the IRS so far this year, 83.5 percent or just over 118.2 million have been e-filed.

Anyone expecting a refund can get it sooner by choosing direct deposit. Taxpayers can choose to have their refunds deposited into as many as three accounts. See Form 8888 for details.

Payment Options – Taxpayers can e-pay what they owe, either online or by phone, through the Electronic Federal Tax Payment System (EFTPS), by electronic funds withdrawal or with a credit or debit card. There is no IRS fee for any of these services, but for debit and credit card payments only, the private-sector card processors do charge a convenience fee. For those who itemize their deductions, these fees can be claimed on next year’s Schedule A Line 23. Those who choose to pay by check or money order should make the payment out to the “United States Treasury”.

Taxpayers must be sure to file their return by Oct. 15, even if they can’t pay the full amount due. Doing so will avoid the late-filing penalty, normally five percent per month, that would otherwise apply to any unpaid balance after Oct. 15. However, interest, currently at the rate of 3 percent per year compounded daily, and late-payment penalties, normally 0.5 percent per month, will continue to accrue.

For additional information seehttp://www.irs.gov/uac/Newsroom/Reminder:-Oct.-15-Tax-Deadline-Remains-During-Appropriations-Lapse

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