9 IRS REMINDERS TAXPAYERS SHOULD KNOW

Posted January 8, 2018

9 IRS REMINDERS TAXPAYERS SHOULD KNOW

It is tax season again and IRS is reminding the 155 Million taxpayers’ important issues when they file their 2017 tax returns. Here is the list that may be of help to you when filing your tax returns that IRS wants you to know:

Tax Filing Season will start on Monday – January 29, 2018;

Tax Returns will due on Tuesday – April 17, 2018;

Refunds will be available after late February 2018;

Although IRS will start accepting both electronic and paper tax returns before January 29, 2018, paper returns will be processed in the middle of February 2018 because of the systems update;

IRS strongly recommends filers to file income tax returns electronically for early and fast refunds;

Tax filers with Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) are adviced that by law refunds will be released before the middle of February 2018 and will be credited into taxpayer’s bank account starting February 27, 2018.

Taxpayers who are using tax software products for the first time will need their 2016 Adjusted Gross Income (AGI) ready to be able to file electronically;

IRS reminds taxpayers to keep copies of their previous year’s tax returns for three (3) years;

The electronic PIN is no longer an option.

Leo Semacio

He holds a Bachelor of Science in Business Administration and Management from Ateneo de Zamboanga University, Philippines and had professional experience in the field of banking and finance, retail services, benefits counselor and insurance agency/brokerage. In May of 2012, he passed his license from the Florida Department of Financial Services for Life, Health, including Variable Annuity, and Customer Representative (Licenses 0215 & 0440, respectively). Currently, he served as Marketing Director for World Financial Group, Inc. In July of 2013, as a freelance writer for fiction and non-fiction, he received his certificate in Creative Writing from Miami Dade College, Miami, Florida, USA. In September 2014 and March 2017, he obtained his PTIN and EFIN certifications from the Internal Revenue Service (IRS) respectively. This is to serve better his growing clientele in matters of Taxation and Tax Return Preparation. In July 2017, seeing the needs of the community for a sensible service and personal commitment, he founded Chévere Solutions and Services, LLC.