Ready, Set, Start Filing!
A reminder for early filers of income taxes - the IRS and the Minnesota Department of Revenue will begin accepting returns Monday, Jan. 29th. And there’s good news for procrastinators - the deadline to file this year is April 17th, two days later than most years.
The IRS is expecting to process 155-million individual tax returns this year. expected to be filed in 2018. The IRS is strongly urging taxpayers to file an electronic return because refunds are issued faster than paper returns. Also, processing of paper returns won’t begin until mid-February.
Here is some other info:
The IRS also reminds taxpayers that they should keep copies of their prior-year tax returns for at least three years.
Taxpayers who are using a tax software product for the first time will need their adjusted gross income from their 2016 tax return to file electronically. Taxpayers who are using the same tax software they used last year will not need to enter prior-year information to electronically sign their 2017 tax return. Using an electronic filing PIN is no longer an option.
Taxpayers can visit IRS.gov/GetReady for more tips on preparing to file their 2017 tax return.
The IRS reminds taxpayers they have a variety of options to get help filing and preparing their tax return on IRS.gov, the official IRS website. Taxpayers can find answers to their tax questions and resolve tax issues online. The Let Us Help You page helps answer most tax questions, and the IRS Services Guide links to these and other IRS services.
Taxpayers can go to IRS.gov/account to securely access information about their federal tax account. They can view the amount they owe, pay online or set up an online payment agreement; access their tax records online; review the past 18 months of payment history; and view key tax return information for the current year as filed. Visit IRS.gov/secureaccess to review the required identity authentication process.
In addition, 70 percent of the nation’s taxpayers are eligible for IRS Free File. Commercial partners of the IRS offer free brand-name software to about 100 million individuals and families with incomes of $66,000 or less.
Download the Power 96 app today!