It’s a new year and time to put the last one to bed, which means filing your taxes.
The Internal Revenue Service says to expect a few changes when the nation’s individual income tax filing season opens on Jan. 23.
Here are some of the changes you should be aware of:
Taxes are usually due on April 15, but this year that falls on a Saturday. And Emancipation Day, a holiday in Washington, D.C., will be observed on Monday, April 17.
So that pushes the nation’s deadline to file returns and pay any amount due to April 18.
You don’t have to wait until then to meet with a tax professional or start the process though.
A new law may delay refunds for some low to moderate income taxpayers who file early.
The Protecting Americans from Tax Hikes Act, known as the PATH Act, requires the IRS to withhold refunds on tax returns claiming the Earned Income Tax Credit or the Additional Child Tax Credit until mid-February. The change is designed to give the IRS more time to detect and prevent tax fraud.
You can read the other half of this great article on USA Today here: http://bit.ly/2jDA3aZ