2016 Tax Filing Deadline is April 18!
The filing deadline to submit 2016 tax returns is Tuesday, April 18, 2017. This date is due to April 15 falling on a Saturday and the following Monday being Emancipation Day, a legal holiday in the District of Columbia.
Delayed Refunds for Returns with EITC or ACTC
The PATH Act of 2015 requires the IRS to hold refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until February 15. The IRS must hold the entire refund — even the portion not associated with the EITC and ACTC — until at least February 15. The IRS cautions that these refunds likely won’t arrive in bank accounts or debit cards until the week of February 27 –- if there are no processing issues with the tax return and the taxpayer chose direct deposit.
2017 Tax Changes Announced!
The standard deduction for married filing jointly rises to $12,700 for tax year 2017
The personal exemption for tax year 2017 remains as it was for 2016: $4,050
Read More Here.
The personal exemption for tax year 2017 remains as it was for 2016: $4,050
Read More Here.
