The IRS has officially declared the opening of the 2017 tax season effective January 23, 2017. Over 153 million tax returns are expected to be filed this year and 80 percent are expected to be electronically filed. This year, you will have until Tuesday, April 18, 2017, to file your 2016 returns and pay any taxes due. The deadline is a little later this year since April 15 in on Saturday and Emancipation Day, a D.C. holiday, is on Monday, April 17.
A new security initiative implemented at the IRS should provide stronger protections for taxpayers going forward to catch tax-related identity theft and refund fraud. These new measures seek out and stop tax-related identity theft from multiple sides and will help the IRS, states and the tax industry provide new protections to taxpayers.
Please remember that all taxpayers should keep a copy of their tax return. Starting in 2017, taxpayers using tax filing software for the first time may need their Adjusted Gross Income (AGI) from their prior-year tax return to verify their identity. The IRS is urging taxpayers to collect all year-end statements including Forms W-2 from employers and Forms 1099 from banks and other payers before filing, to avoid refund delays and the need to file an amended return. Please call our office if we can help!