The IRS recently announced that the upcoming filing season for 2016 tax returns will begin on January 23, 2017.
The filing deadline to file tax returns for 2016 is Tuesday, April 18, 2017. The traditional April 15 date was extended to April 18, 2017, because April 15, 2017, is a Saturday and Washington, D.C. will observe Emancipation Day on April 17, 2017, further extending the deadline to Tuesday, April 18, 2017.
The IRS has warned that taxpayers who claim some tax credits will wait longer than usual for their refunds. The IRS anticipates that nine out of ten refunds will be issued in less than 21 days from the electronic filing of that tax return. However, the IRS is now required by law to hold certain refunds stemming from the earned income tax credit or the additional child tax credit until mid-February in an effort to hold down fraudulent refund claims.
These types of refunds will start to be released on February 15, 2017, but will likely not be available to taxpayers until February 27, 2017. If you cannot file your tax return by the due date of April 18, 2017, you can file a timely extension of time to file your tax return for 2016. The extended due date will then be October 16, 2017.