The IRS has a new due date requirement of 1/31/17 for employers to provide W2s & 1099s to employees & contractors. Traditionally, 1099s were allotted more time to be delivered. Not so for 2017 (tax year 2016). Here are some more popular forms that must be released by 1/31:
Intuit’s TurboTax–the leading do-it-yourself tax preparation software used by million of taxpayers–abruptly turned off the ability to file 2014 state tax returns citing “an increase in suspicious activity”. This comes on heals of claims of “price gouging” by its customers which caused a major public relations uproar forcing the CEO of TurboTax to pen an apology.
Filing your tax return was stressful, but now that it’s done you know the amount you’ve got coming and you can’t wait to get your hands on it. This is understandable; we all usually have that refund earmarked for something. That’s why it can be so frustrating when your tax refund doesn’t arrive on time. Read on to learn what to do if you’ve been waiting an exceptionally long time for your tax refund.
The IRS put everyone one notice not long after the end of the latest government shutdown that the 2014 tax filing season would be delayed by “1 or 2 weeks”. Well not surprisingly, the IRS recently released that the first date that they will be accepting 2013 tax returns for processing will be January 31st:
Many taxpayers believe that their tax refunds are “found” money. But a tax refund is simply an over-collection of taxes by your employer. Watch this video to find out how to adjust your tax withholding to reduce the amount of money withheld so the IRS has less or no money to refund you in future tax seasons, and increase your weekly paychecks.
H&R Block (HRB)–the largest public retail tax preparation company in the United States–has confirmed that they have filed many tax returns containing certain delayed credits too early, causing their clients refunds to be delayed. The primary issue is the Education Tax Credit which was not accepted for electronic filing until recently (February 22nd). This has prompted the IRS to send letters to HRB clients instead of their expected refunds....
IRS acting commissioner Steven T. Miller recently sent a letter to a Ranking Member of the House Committee on Ways and Means. In it he states that the Internal Revenue Service’s computer systems are programed to account for a AMT Patch like in years past. However, the AMT is scheduled to expire when the clock strikes midnight tonight. Without an AMT patch, not only would thousands of middle and lower income taxpayers see steep increases in their taxes, the IRS would have to reprogram their...
