Tax filing season to officially from January 29th, 2019
Washington – Internal Revenue Service has categorically stated that Tax filing season starts on Jan 29, 2019. Yes, likewise, they have also made it clear that taxpayers, who are expecting to get tax refund sooner, may have to wait for a few days more.
Tax filing season start
Jan 29th will mark the day for IRS to start accepting electronic tax returns. Considering the massive strength of taxpayers, it can go as high as 153 million.
Likewise, taxpayers are told to file their tax returns before April 18th which can also be termed as Tax filing deadline date. There have been full-fledged backend preparations done by IRS as they are soon going to start accepting applications which are said to be a herculean operation. Especially in the wake of online frauds which has been taking place on a rampant basis. Yes, IRS is fully cautious on the front to ensure foolproof security mechanism to end any loopholes thus giving a sense of security to the taxpayers in the process.
- The taxpayers can e-file considering the rough estimate generated by IRS where the entity is of the opinion that 8 out of 10 tax papers will be filing electronically.
- Yes, in order to promote and to accept requests of such large group of tax papers doing e-file, IRS is upbeat and has already geared up with the latest technological inventions through putting in place tax return preparation software.
- Those who are filing through a paper, in fact, give to tax professional or entities who will, in fact, be submitting to IRS with the Tax filing season start. Yes, the Tax filing deadline date is April 18th , so the taxpayers have to be utmost sure about the specific dates which have already been announced by IRS.
- Paper filing can be done as well, but it is expected that their strength is going to be way lower this year. Yes, IRS has equally made it clear, that taxpayers doing paper filing will not be eligible for any sort of benefits or perks. The expert’s reaction with this stand of IRS is naturally to promote e-filling. It is expected that the subsequent years will further report of lesser paper applications as well.
- As the Tax filing season starts, IRS is going through a series of technical proofs for ensuring that refunds reach to the right tax paper. Yes, this move only re-affirms the belief that it wants transparency to prevail by ending loopholes which may have been there in the past. Yes, for the same reason, IRS as part of its new procedural mechanism is making the use of current laws pertaining to Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC). According to the law, IRS will be holding the Tax Refund till February 15th which will, in fact, take another specific number of days to reach the financial institutions. Considering the prevailing holidays, taxpayers may not be able to get the payment until February 27th.