IRS Announces Various Dates Related to Tax Season 2017

The due date for 2016 calendar year individual income tax returns is Tuesday, April 18, 2017.  This is due to Emancipation Day, a legal holiday in the District of Columbia observed on Monday, April 17, 2017.  Since IRS is located in DC and this is a legal holiday in DC, the due date moves to the next business day, April 18.

 

IRS will begin accepting individual income tax returns on Monday, January 23, 2017.  Many software companies will accept returns prior to this date and hold them until January 23.

 

The Path Act requires IRS to hold refunds on returns claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until February 15, allowing IRS to spend more time to detect and prevent fraud.  IRS encourages all taxpayers to file as usual, including those returns with EITC and ACTC.  IRS also cautions taxpayers that their refunds will NOT likely arrive in their bank accounts until the week of February 27.  Paper refund checks normally take about a week longer than direct deposits.  [Tax professionals should advise their clients of this delay and remind them to “not spend the refund until they get it”.]  The “Where’s My Refund” feature on irs.gov or the IRS2Go phone app will start being updated for these affected taxpayers a few days after February 15.

 

This text has been shared with you courtesy of David & Mary Mellem, EAs & Ashwaubenon Tax Professionals.

 

@2016 Ashwaubenon Tax Professionals.  No reproduction of this article is permitted without the express written consent of Ashwaubenon Tax Professionals, 2140 Holmgren Way, Suite 1040, Green Bay, WI  54304, 920-496-1065.