When Can I File My 2015 Taxes in 2016?
Are you wondering when you can file your 2015 taxes?
Currently, the date for this tax seasons opening is Jan 20, 2016. The good news is anyone can get started today with online tax filing and get a head-start on their tax refund. TurboTax and H&R Block will securely hold and then submit customers’ tax return to the IRS as soon as they begin accepting returns. There is no faster way for taxpayers to get their tax refunds.
1. If you file with TurboTax online you can easily prepare and file your own taxes. TurboTax offers advanced tools to help you pay the least amount of tax possible. They also provide extremely fast refunds.
2. If you’re ready to get your taxes filed, join the many tax filers who use H&R Block’s online tax filing. With features online such as the Free Tax Refund Calculator and W-2 Finder, you can’t lose.
The IRS is Now Accepting Tax Returns
The 2016 tax season officially started on January 19th. This means that the IRS is now accepting returns and they are estimating that this year they will receive more than 150 million individual returns.
Four out of five returns have also been projected to be prepared using tax return software and e-filed. However, if you do plan to paper file, you also have the same starting date as those who will be e-filing. Keep in mind, that when you file early in January via paper this is not giving you an advantage over those who are e-filing their returns.
IRS Commissioner John Koskinen said that he was looking forward to opening the 2016 tax season on time and that IRS employees have worked all year to make it happen. He also revealed that he was appreciative of the nation’s tax professionals and software communities, which are particularly helpful to taxpayers this time of year.
As part of the Security Summit initiative, the IRS has been working closely with tax industry professionals and state revenue departments in an attempt to combat identity theft for taxpayers during this tax season.
Deadline for Filing Taxes
The filing deadline this year is April 18th, which is due to Washington, D.C. celebrating Emancipation Day on Friday. In Maine and Massachusetts, the filing deadline is April 19th, because of Patriots Day.
Additionally, Koskinen revealed that the new legislation has made permanent many provisions and extends many others for several years. This makes planning purposes a certainty, which will help taxpayers, the community, and the IRS.
Nevertheless, the IRS is encouraging all taxpayers to wait until they have all of their end of the year statements before they file their taxes. This includes W-2s, 1099s from banks and other payers, and Form 1095A.
The IRS website also has a wide variety of tools and information available that can make preparing taxes easier. In addition, it is recommended that you e-file and chose direct deposit as the way to receive your refund. This ensures you keep your information safe, your return is accurate, and that you receive your refund in the fastest amount of time.
Once again, the IRS has projected that nine out of ten returns will receive their refunds in less than 21 days. If you qualify, you should also take advantage of free tax options available. You can go to the IRS.gov to the “filing” tab to see what options may be available to you.
Additional Tax Filing Facts to Keep in Mind
- 70% of taxpayers are eligible to file their taxes via IRS Free File. Other commercial partners of the IRS offer free brand name software to 100 million individuals and families who make less than $62,000.
- Online fillable forms allow you to have electronic versions of IRS paper forms regardless of your income. They can be prepared and filed by you if you are comfortable preparing your own income taxes.
- VITA and TCE provide free tax help to those who qualify. You can learn more about them by going to the IRS website and entering “free tax prep” in the search box. Alternatively, you can download the IRS2Go mobile app on your phone and find a free tax prep provider that way.
Tips for Filing Your Taxes
- Organize – Make sure that you have everything that you need before you even begin working on your returns.
- E-File – E-filing comes with so many benefits such as ease of use, quickness of filing, and identity protection.
- Sign Up For Direct Deposit – If you want to receive your tax refund in the quickest amount of time, you need to sign up to have it direct deposited.
- Ask Questions if Needed – If you are unsure about something ask questions. It is always better to be safe than sorry.
Getting a Fast Tax Refund
When 2016 rolls in you can start preparing your tax return online. Once you have it completed, you will be among the first of taxpayers who have their returns processed and their refunds issued.
Keep in mind when you file your taxes with TurboTax or H&R Block the process is easy. They provide you with the largest refund possible by insuring that they ask the correct questions to find out which deductions and credits you qualify for.
You can also use their free tax refund calculators to see how much your tax refund will be. When you file your taxes online there is no way that, you can go wrong and many taxpayers are able to file their federal tax returns free or at a discount.
What to Do if You Have Not Received Your W-2
Before you can file your tax return, you have to have all of the documents needed, including your W-2. All of your employers are responsible for sending you this yet they do have until February 2nd to do so. In the event that you have not received your W-2 yet, you can follow these steps.
Contact Your Employer – If you have not received your W-2 yet, you need to contact your employer to see when they put it in the mail. It is possible that it was returned to them due to incorrect mailing details. Once you have contacted them and found out the status give it a reasonable amount of time for your W-2 to arrive.
Contact The IRS – If you have not received your W-2 after February 14th, it is time to call the IRS at 800-829-1040 for assistance. When calling make sure you have your name, address, social security number and phone number. Additionally, you will need your employer’s name, address, phone number, your employment date, the estimate wages earned from them during the year and estimated federal income tax that was withheld. To make an estimation you should refer to your most recent pay stub.
File Your Return – Even if you do not have your W-2, the IRS expects you to file by April 15, 2015 or request an extension. You can use Form 4852 Substitute for Form w-2, Wage and Tax Statement. This form should be attached to your return, however, keep in mind your refund may be delayed since the IRS has to verify your information.
File Form 1040X – If you receive your W-2 after you have filed your taxes, you must amend your return by filing Form 1040X Amended U.S. Individual Income Tax Return.
To ensure that you receive the maximum refund possible it is suggested that you file your taxes using online software. It makes filing taxes easy and when filing your taxes electronically your tax refund can be returned to you sooner.
Filing Your Taxes Online With TurboTax
Remember, when you file your taxes with TurboTax, you don’t need to know which schedules to fill out. We’ll ask you simple questions about your life and put your answers on all the appropriate forms.
You’ll get step-by-step instructions through your taxes, expert help when you need it and every deduction and credit that applies to you. We make sure you get the biggest refund possible. Try the Free tax refund calculator to see your how much money you’ll be getting back.