Taxes and car insurance are two of the more predictable costs that each of us has to cover, but this year, tax filing will be even more predictable than usual.
2. Taxes
Taxes and car
insurance are two of
the more predictable
costs that each of us
has to cover, but this
year, tax filing will be
even more predictable
than usual.
3. Tax Years: 2013 & 2014
After two delayed tax
seasons in 2013 and
2014, many Americans
are anticipating yet
another delay in the
process of filing taxes but,
surprisingly enough, the
Internal Revenue Service
has just announced that
the 2015 tax filing season
will begin without a hitch.
4. Maybe Information was Missed
On January 20th, tax
season is open not
only for paper returns,
but electronically
submitted ones as
well, so you can take
care of your taxes and
auto insurance without
ever leaving the
computer.
5. Official Start Date
That January 20th start
date is earlier than
many expect thanks to
an 11-day delay last
year and a 10-day one
the year before that. It’s
possible that next year
the season will open a
little early, much like it
did in 2012.
6. Concerns
There will also be no tiered
opening system, meaning that
the January 20th opening date
applies to everyone, not just
those of us in a certain bracket.
Originally, there were some well-
justified concerns that a tiered
filing system would make a
comeback this year thanks to
some nearly-delayed tax
extensions that Congress was
somewhat hesitant to apply.
7. Offered Packages
Eventually, a tax extenders
package was approved, allowing
all tax payers to begin their filing
on the same date. The
provisions extended were only
extended for one more year, and
no changes were made to the
package before it was signed
into law by President Obama on
December 19th of last year.
8. Length Of Extension
Since the extensions
will only last a year, it
remains to be seen
how Congress will
handle the 2016 tax
season or if the tiered
system will return.
9. The Commissioner
Commissioner of the IRS John
Koskinen explained the
decision to approve the tax
extenders, saying that,
“[Congress has] reviewed the
late tax law changes and
determined there was nothing
preventing us from continuing
our updating and testing of our
systems.
10. Commissioner’s Plan
Our employees will
continue an aggressive
schedule of testing and
preparation of our
systems during the next
month to complete the
final stages needed for
the 2015 tax season.”
11. Contact Us
Stay informed and
always make sure you’re
working with accurate
information.
How do you feel about the
tax extenders package? Do
you feel that Congress has
made a mistake in forgoing
the tiered system?