Filing Season Opens

  1. Filing Season Opens

    The IRS announced the on-time opening of the 2015 filing season highlighting online services. The announcement also highlights the Affordable Care Act healthcare provisions included in the 2014 individual income tax return. The IRS expects more than four out of five returns will be filed electronically. They will begin accepting and process all tax returns on 1/20/15. The fastest way to obtain a refund is to e-file choosing direct deposit. Similar to last year, the IRS expects to issue 90% of these refunds within 21 days. Due to budget cuts paper returns are expected to take an additional week or more to process, and refunds are expected to be issued in seven weeks or more. Commissioner Koskinen strongly encourages taxpayers to visit www.irs.gov before calling as phone wait times are routinely topping 30 minutes. News Release IR-2015-3.

  2. Tax Season to Begin in January, Says IRS

    Although there were more than 50 changes in the recent passage of the extenders legislation (the Tax Increase Prevention Act of 2014), the IRS announced that it still plans to open the 2015 filing season as scheduled in January. According to its recent News Release, the IRS will begin accepting tax returns filed electronically on 1/20/15. Paper tax returns will begin processing at the same time. The IRS also reminds taxpayers that filing electronically is the most accurate way to file tax returns and get a refund. IR 2014-119.