Tax Fact – IRS & Your Passport

Tax FactsThe IRS can deny or revoke taxpayer’s passports when they owe taxes to the IRS.

Where’s My Refund?

Tax Refund

If you are looking for your federal tax refund you will want to view the IRS FAQs on Refunds, on the IRS site. The IRS states most refunds are processed in less than 21 days.

Tax Freedom Day – April 19, 2018

man carrying bag of money for taxes cartoonThe average American works the first 109 days of the year, earning enough money to pay their tax bill in full. Thanks to the tax reform, we will work three less days to pay our taxes in 2018 than last year. That is three days of income you get to keep in your pocket.

This year, our tax freedom day is April 19, 2018. Tax Freedom Day marks the day we begin working for ourselves and not Uncle Sam. Enjoy your holiday!

statue of liberty american flag

Happy St. Patrick’s Day!

IRS ST Patricks Day Cartoon

 

Filing Season for 2017 Taxes

IRS Seal

Important 2017 Filing Season Dates:

January 29, 2018
Today, IRS announced that the filing season will begin on January 29, 2018. The IRS scheduled the opening of the filing season to start on this date to ensure the security and readiness of key tax processing systems before the opening, and to give the agency time to properly assess the potential impact of tax legislation on 2017 tax returns.

April 17, 2018
In addition to IRS announcing that the filing deadline will be April 17, IRS reminded taxpayers that should they claim the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC), that refunds will be unavailable before mid-February.

February 27, 2018
IRS expects EITC/ACTC refunds to be available in taxpayers’ bank accounts or through debit cards by February 27, 2018 if the taxpayer chose direct deposit and there are no other issues with the filed return.

Holiday Timing
The IRS further reminded taxpayers that many financial institutions do not process payments on weekends or holidays. Therefore, the three-day holiday weekend involving President’s Day may affect the refund timing for EITC and ACTC filers.

Taxing Facts about Taxes

Tax Facts

 

The Federal Tax Code totals approximately 2.4 million words

(compared to 1955 with 409,000 words)

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Taxing Facts about Taxes

Tax Facts

 

There are roughly 7.7 million words of tax regulations

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