After scrambling to keep up with sweeping tax law changes, the IRS has announced it will begin accepting electronic and paper tax returns Jan. 28. The Fort Lauderdale accountants of Sterling Accounting stand ready to help at this crucial time.
This year, tax season will run from Jan. 28 through April 17, according to Forbes. Normally, the filing deadline would be April 15. But April 15 falls on a Sunday and April 16 is Emancipation Day, a holiday in the District of Columbia.
Despite the extra two days in April, 2018’s tax season is shorter. The 2017 season lasted 86 days. But filing started earlier.
Tax season this year will only last 79 days, because filing starts later.
Taxpayers can also expect it to take a while before receiving some refunds. According to Forbes, “The law now requires the IRS to hold refunds tied to the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until February 15.”
The announcement of this year’s tax filing dates follows a mad scramble by the IRS to cope with the massive tax law changes Congress passed at the end of 2017.
Former IRS Commissioner John Koskinen says even simple changes are complex, thanks to Kennedy-era computer programs the agency uses. “A lot of our forms are hard-coded, so you don’t just enter a little thing in your computer, you actually have to go into the code and change the date or change the forms,” he says.
Fort Lauderdale accountants Sterling Accounting stands ready to help prepare your taxes, whatever your needs.
We provide innovative solutions for tax issues to minimize your tax liability, we find deductions commonly overlooked, and we stay up-to-date and well informed on all tax laws and legislation. That’s especially important as you seek to maximize the benefits from changes to tax law.
We’re also expert on business taxes. We offer advice on both short-term and long-term tax strategies, initiatives and investments. Our tax service is designed exclusively to help you maximize your earning power.