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2017 Tax Refunds – Things Taxpayers Want to Know
Tax season is officially here and many taxpayers are impatiently waiting for their refunds to hit their banks and to be able to file 2016 tax returns. Numerous questions are circulating through their minds and on the web. Therefore, today we are discussing the basic things that all taxpayers want to know.
When to File
The IRS has revealed that they will start accepting returns on January 15. You can paper file, but we suggest e filing so you can speed up the process and receive refunds quicker. It has been said that taxpayers who e-file and sign up for direct deposit receive their refunds in half of the time of paper filers and those who wait for a paper check.
Free File is available for taxpayers who make less than $60,000. Free File is an IRS service that is available for free and it is also free to see if you qualify.
Two of the best calculators out at this time are the ones created by H & R Block and Turbo Tax. The best part is you don’t even have to e-file with them to be able to utilize this great tool.
They are going to have to ask you some questions before giving you an estimation so make sure you have the following information available.
- Last paystub
- Filing status
Tax Filing Deadline
Normally, the last tax filing day is April 15th. This is good news for procrastinators, but we still recommend filing as soon as possible as this gets you your refund faster.