All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Associate (Council Member)
Posts: 1,925
Registered: ‎12-13-2013

2017 Tax Filing Season begins January 23, 2017

In my email a couple days ago, I received a newsletter from the IRS that provided the opening and closing dates for the upcoming general tax season to file our 2016 income tax returns.

Opening day: Monday, January 23, 2017 (the day the IRS will begin receiving and processing 2016 tax returns)

Closing day: Tuesday, April 18, 2017 (due date to file 2016 income tax returns, or file Form 4868 for a six-month extention)

And because there are some significant changes in regards to the new tax law, Protecting Americans from Tax Hikes (PATH) Act of 2015, as well as some IRS procedure changes, a webpage is offered on the IRS website that provides information about what you can do, and what to expect this tax season. For your convenience, here is the link to this webpage.

https://www.irs.gov/individuals/steps-for-tax-filing-season

I wish everyone a happy holiday season and a great new year.
WillMc1
Tax Professional (Retired)
Pioneer
Posts: 1
Registered: ‎12-28-2016

Re: 2017 Tax Filing Season begins January 23, 2017

Although that is the date the IRS will start processing returns, can I still file my return earlier if I have all necessarry documents?

Tax Pro
Posts: 5,617
Registered: ‎02-23-2016

Re: 2017 Tax Filing Season begins January 23, 2017

Hi Rhughes52,

 

Welcome to the community.

 

If you have all of the required documents then yes, you're welcome to file your tax return earlier.

 

However, there are a few things to keep in mind.

 

Filing earlier will not get you a faster refund.  Your tax return will be held in a holding quque and will not be transmitted until January 23rd.

 

If you claim the Earned Income Credit or the Additional (refundable) Child Tax Credit then under the new PATH law your refund cannot be authorized until February 15th at the earliest.  The IRS has stated in one of their recent posts on this topic that taxpayers claiming these credits should not expect to actually receive their refund until at least the last week of February.

 

Keep in mind as well that if you have marketplace insurance then you should wait to file until you receive your 1095-A in early February.  The other two health insurance forms, 1095-B and 1095-C, are not required documents this year since the IRS once again extended the deadline for employers and insurance companies to issue them to employees and clients until March 1st.

 

I hope this helps you out.

 

Louis,

Senior Tax Advisor (Tampa, FL)