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The IRS reminds Taxpayers of the 2017 IRS Tax Refund Delay.

The IRS sent out a memo on Tuesday reminding the taxpayers of the upcoming 2017 IRS Tax Refund Delay.

As the holidays approach, the Internal Revenue Service today reminded taxpayers to remember that a new law requires the IRS to hold refunds until mid-February in 2017 for people claiming the Earned Income Tax Credit or the Additional Child Tax Credit. In addition, new identity theft and refund fraud safeguards put in place by the IRS and the states may mean some tax returns and refunds face additional review. The 2017 IRS Tax Refund Delay will affect millions of taxpayers filing a 2016 tax return. Read more »

The 2016 tax brackets just announced by the Internal Revenue Service don’t include dramatic changes, largely because of low inflation last year.

The brackets will rise about 0.5 percent, the IRS said, meaning a $50 increase for single filers in the lowest tax bracket up to a $2,100 increase for married filers in the highest tax bracket. Read more »

IRS Announces Tax Return Filing Season Opens January 11, 2016. When can we file taxes for 2016?

Are you ready to file your 2015 Tax Return? It’s not quite time for that yet, but the time is coming. If you are awaiting a 2016 tax refund, you cannot get it until you file your 2015 tax return, and the IRS say it will start accepting tax returns starting January 11, 2016. The IRS do not expect any hold ups this year with all of the tax extenders being passed last year. 2016 Tax Season will open as planned in 2016. When can we file taxes for 2016?

The IRS will begin accepting 2015 tax returns electronically on Jan. 11. Paper tax returns will begin processing at the same time. This means that unlike prior years, the IRS will be accepting 2015 tax returns much earlier. This should also speed up tax refunds in your bank account.

Last year 2014 Tax Returns began being accepted January 20th 2015. This is giving us a 9 day leap from prior year. This is information from last year, “We have reviewed the late tax law changes and determined there was nothing preventing us from continuing our updating and testing of our systems,” said IRS Commissioner John Koskinen. “Our employees will continue an aggressive schedule of testing and preparation of our systems during the next month to complete the final stages needed for the 2015 tax season.”

The IRS reminds taxpayers that filing electronically is the most accurate way to file a tax return and the fastest way to get a refund. According to the IRS statement, there is no advantage to filing tax returns on paper in early January instead of waiting for e-file to begin. The IRS says more information about IRS Free File and other information about the 2016 filing season will be available in January.

Check out 2016 IRS Tax Schedule for Tax Year 2015, here.

2016 IRS Tax Schedule for 2015 Tax Year

Tax Season 2015This is a refund cycle chart for 2016 IRS Tax Schedule. Direct Deposit and Check date’s below. Please see disclaimer. 2016 tax refund schedule is listed below for information purposes.  Find out when you’re state income tax refund will be in. The I.R.S will begin accepting tax returns January 11th, 2016.

Read more »

IRS Smartphone App IRS2Go Updated.

If you already have the app, go to our apps and update it. Get the “Where’s my refund?” app on Android & Apple IPhone/IPad/IPod App.

Updated IRS Smartphone App IRS2Go Version 5.0 Now Available

WASHINGTON — The Internal Revenue Service today announced the release of IRS2Go 5.0, an update to the only official IRS smartphone application, compatible with both Apple and Android devices. Read more »

We updated our IRS E-File Cycle Chart today to account for the IRS changing the payout dates from Thursday to Wednesday. Check out the changes and please let us know if you find any problems.

2015 IRS Tax Refund Schedule.

Having trouble with the IRS Where’s My Refund tool? Here are some handy tools to decipher your way around this.

How to read your IRS tax account transcript.

Tax Topic 151

Tax Topic 152 Read more »

Walmart will turn tax refunds into immediate green this year by offering cash refunds at all of its stores, the retailer said Tuesday.

Walmart is partnering with 25,000 tax-preparation locations in all 50 states to give consumers the option to receive their tax refund as cash, and at a lower price than it can sometimes cost to get a paper check refund. Walmart won’t charge customers to pick up their refunds, but tax preparers could charge up to a $7 fee to filers who opt for the service. Read more »

IRS Tax Schedule Changes. IRS Start up Tax Season early for testing of acceptance system

The IRS have started accepting a limited amount of tax returns for testing purposes of the IRS system.
Great news! The IRS have begin testing for the upcoming Tax Season 2015.

We have reports from our affiliate RefundSchedule.com that the IRS have accepted several lucky tax payers to have their IRS tax returns accepted early. This does not include state tax returns as far as we know. They accepted January 14th through January 16th for these lucky few. More details:

Early reports of IRS approving many tax returns ahead of time.

 

Tax Year 2015: Things you should starting preparing for now.

Because of inflation adjustments required by law, the standard deduction, personal exemption and many other important tax numbers for the coming year will increase. Here are a few changes that will affect federal income-tax returns for the 2015 tax year, to be filed in 2016:

The basic standard deduction for 2015 will increase to $6,300 for single taxpayers (and married people filing separate returns) from $6,200 for this year. For married couples filing jointly, it will rise to $12,600 from $12,400 this year.

But before you automatically choose the standard deduction, check to see whether you would be better off itemizing your deductions, such as charitable gifts.

The standard deduction for those who qualify as “head of household” will rise to $9,250 from $9,100.

The amount and income thresholds for the earned income tax credit, a program designed to help the working poor, will change. For example, the Internal Revenue Service said the 2015 maximum earned income credit amount will be $6,242 for taxpayers filing jointly and who have three or more qualifying children, up from a total of $6,143 for tax year 2014.

Tax Year 2015

Planning to move and work overseas? For 2015, the foreign earned-income exclusion will be $100,800, up from $99,200 for 2014.

The personal exemption will be $4,000 for 2015, up from $3,950 for 2014. But, as the IRS points out, this is subject to a phaseout that begins with “adjusted gross incomes of $258,250 ($309,900 for married couples filing jointly).” The exemption “phases out completely at $380,750 ($432,400 for married couples filing jointly.)”

People who make more than a certain amount get hit by a limitation on itemized deductions. For next year, that limit begins with incomes of $258,250 or more, or $309,900 for married couples filing jointly.

The federal estate-tax exclusion will rise to $5.43 million next year from $5.34 million this year.

Separately, many upper-income workers will owe slightly more next year in Social Security taxes. The reason: The maximum amount of earnings subject to the Social Security tax will increase to $118,500 in 2015 from $117,000 this year, the Social Security Administration said. That reflects an increase in average wages.

Of the approximately 168 million workers who will pay Social Security taxes next year, about 10 million will pay higher taxes because of this change, the SSA says.

Tax Year 2015

Tax Season 2016

Tax Planning

Discuss in the Income Tax Forums.

When can you file taxes 2015?

If you like to file your taxes early and then chuckle at all the procrastinators who wait until April 15 nears, your day of reckoning is getting close. The earliest day the IRS will begin proTax Season 2015cessing 2014 individual tax returns is Jan. 20, 2015, a date slightly later than usual due to congress not passing tax related laws earlier in 2014.
This date can be found on our 2015 Tax Schedule.
A reminder this delay  will not be until October 2015 as previously reported on a fake journalism website.

The Internal Revenue Service (IRS) began accepting and processing federal tax returns for tax year 2014 on January 20, 2015. You had until April 15, 2015, to file your tax return unless you filed for an extension.

You can file your tax return with the Internal Revenue Service by:

The IRS offers free tax help, and if you owe the IRS money, payment options are available.

You can receive your tax refund in one of three ways.

For more information about filing your taxes, visit 1040 Central.

Changes for 2015 Tax Season
New for the 2015 filing season, some IRS assistance and taxpayer services shift to automated resources. Many of these automated services are available 24/7.

Contact the IRS
For more information or help, contact the IRS by phone or mail at:

Individuals: 1-800-829-1040
Businesses: 1-800-829-4933
TTY: 1-800-829-4059
International IRS Offices (if you live outside the U.S.)

When can I file my taxes in 2015?

When can you file taxes 2015?