Mark your calendars! January 23 is the official start of tax season. That’s the day the Internal Revenue Service will begin to accept and process tax returns, the agency announced on Thursday.
that were impacted by the recent storms you'll have until May 15 to file your federal individual and business taxes.If you request an extension you'll have until October 16 to file your return. Importantly that doesn't buy you more time to pay your taxes. You'll still have to pay any amount due to avoid penalties but you'll have more time to complete your tax forms.
You can get a jump-start on preparing your tax return by gathering key information such as your W-2 or 1099 forms. And you may be able to submit your taxes early through some third-party tax services, but they'll wait in the system until the IRS begins accepting returns for processing.Your employer is required to send you your W-2 by Jan. 31. Most 1099 forms are due by the end of January as well.
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