Today, the IRS announced that it will begin accepting e-filed tax returns for the vast majority of U.S. taxpayers on January 30, about a week later than expected.
The IRS anticipates that it will be able to process tax returns for about 120 million taxpayers, including those affected by AMT, the educator expense deduction, the higher education tuition and fees deduction and the state and local sales tax deduction.
Even though the IRS does not anticipate any tax refund delays due to the week slip in accepting refunds, there are some simple steps you can take to make sure you get your tax refund back as quickly as possible:
1. File Now! Don’t wait!
- TurboTax is up-to-date with all recent tax law changes and has been accepting e-filed tax returns since January.
- TurboTax will hold and securely submit your tax return to the IRS on a first-in, first-out basis. So filing now puts you first in line for your tax refund.
2. E-file and Use Direct Deposit
- E-file and direct deposit are the fastest way to get your tax refund.
- The IRS does not anticipate any associated tax refund delays once processing begins on January 30. The IRS expects to issue 9 out of 10 tax refunds in 21 days or less.
- The IRS will not process paper returns before January 30.
3. Get Expert Answers to Your Tax Questions
- Taxpayers wondering how recent tax law changes may impact their taxes can contact TurboTax tax experts, who are available year round to answer taxpayer questions, free.
- Only TurboTax lets taxpayers talk to certified public accountants, Internal Revenue Service enrolled agents or tax attorneys as often as they like while they’re preparing their tax return, free.
According to IRS, taxpayers claiming the residential energy credit and businesses claiming depreciation and amortization and general business credit will be able to file tax returns in late February or early March due to additional forms and processing requirements.
There’s no need to wait to file your tax return. Get started now to get a jump on your tax refund.