IRS Tax Filing Season to Begin As Scheduled

 Posted on December 02, 2014 in Taxation Law

This year's tax filing season will commence on January 20 as scheduled. The season will commence in spite of a last-minute law passed by Congress.

The Internal Revenue Service has announced that taxpayers can begin filing their tax returns for 2014 on January 20, 2015. There had been concerns that the filing season would have to be postponed this year, as lawmakers continued to delay a bill containing tax breaks. Earlier this month, lawmakers passed the bill, which extended dozens of tax breaks which had expired. The law now extends those tax breaks to the end of the year, which means taxpayers will now be able to claim those breaks when they file their tax returns for 2014.

In previous years, last-minute wrangling by lawmakers had delayed the start of the tax filing season. However, that will not happen this year. The agency has assured taxpayers that the agency has reviewed all the tax law changes the government made recently, and had come to the conclusion that there is nothing to prevent taxpayers from filing their returns, because the systems will be updated on time.

If you want to receive your tax refunds quickly, file taxes as quickly as possible. Also file taxes electronically, because that is the quickest way for you to get a refund. In past years, the agency was able to issue tax refunds within 21 days when those returns were filed electronically.

There were concerns that refund processing will be delayed this year because of staffing shortages and budgetary cuts at the agency. The agency has now assured taxpayers that the processing of the refunds will go ahead as scheduled.