The 2014 Tax Filing Season Begins. The IRS announced that the tax return filing season opened January 20, 2015
The Internal Revenue Service (IRS) announced the timely start of tax season 2015 of the nation today and highlighted the increase in electronic services that include applications that help taxpayers understand how the Law of Care Under Price will affect when filing your taxes as well as the availability of the Free File program.
When are 2014 taxes due?
Taxpayers have until Wednesday April 15, 2015 to file your 2014 tax return and pay any tax due.This year, the IRS expects to receive about 150 million individual tax returns. Like the past three years, it is expected that more than four out of five statements submitted electronically.
The IRS Free File, available at IRS.gov, program will open on Friday for taxpayers and the IRS will begin accepting and processing all tax returns on Tuesday, January 20th.
E-file, when combined with direct deposit is the fastest way to get a refund. More than three out of four recipients of rebates now choose direct deposit. People who use e-file fewer errors and costs nothing for those who choose Free File .
In total, 14 companies participate software Free File program this year. Additional details about specific offers of Free File will be available from tomorrow on the front page of IRS.gov Free File when it becomes available.
When are tax refunds issued?
Like last year, the IRS expects to issue more than nine out of 10 refunds within 21 days. Again, the fastest way to obtain a refund is through e-file and choosing direct deposit. It takes longer to process paper returns and then reducing the IRS budget resulted in fewer staff, it will probably take an additional week or more to process paper returns which means that such reimbursement is normally issued in seven weeks or more.
How to Get Tax Refunds Quicker
The IRS urges all taxpayers, especially those who claim the tax credit premium, to make sure they have all the documentation of year-end hand before you file your return. This includes W-2 forms from employers, 1099 from banks and other payers, and for those who claim the premium tax credit on Form 1095-A Market. Doing so will help you avoid delays in repayment and the need to file an amended return later.