Tax Season Advisory

January 5, 2018

Based on announcements by the IRS, here are some important dates and other information to keep in mind regarding this year’s tax season.

Internal Revenue ServiceThe IRS will begin processing tax returns January 29. If your preparer completes your return before that date, she’ll have to hold off on transmitting it until then.

You can mail in a paper return before January 29, but you won’t get your refund any sooner. In fact, you’ll get it later, because the IRS won’t begin processing paper returns until mid-February. Filing electronically will get your refund faster.

The law requires the IRS to delay refunds for returns claiming the Earned Income Credit or the Additional Child Credit. The delay applies to the entire refund, not just the portion relating to these credits. The earliest you’re expected to receive these refunds is February 27 — and that’s assuming you chose direct deposit, and there are no other issues with your tax return.

The use of an electronic filing PIN has been discontinued. To validate your filing, you’ll need your adjusted gross income from 2016. As a general rule, this information will automatically be available if you use the same software to prepare your 2017 return as your 2016 return. The IRS has tips for people who can’t locate their 2016 AGI.

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