January 19, 2016 is the first day you’ll be able to file your prepared 2015 individual federal income tax returns for processing. The IRS says processing for this tax season is starting on time partly due to the new tax extenders legislation quietly signed into law before the Christmas season.
You may remember last year’s tax season was delayed more than a week due to late tax law changes, disagreement over extending tax law provisions and setbacks blamed on IRS budget cuts. This also led to a delay by many businesses in calculating and sending various Forms 1099 to taxpayers causing more slowdowns in completing income tax returns. This year, things are scheduled to be starting on time and that should make tax season smoother.
This year’s income tax filing deadline is April 18th.
Meanwhile, there is a change to the traditional April 15th tax filing deadline day that will give you at least three additional days to file. This year because of the Emancipation Day holiday on Friday, April 15, the filing deadline to submit your individual tax return will now be Monday, April 18. Additionally, because Maine and Massachusetts also celebrate Patriots Day on April 18, the federal and state tax filing deadlines in those two states will be Tuesday, April 19.
If you have any questions, please don’t hesitate to contact us at McRuer CPAs.