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.
12-13-2016 08:31 PM
12-28-2016 09:27 AM
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.
Senior Tax Advisor (Tampa, FL)