Tax changes and trends
Tax season is here once again, and with it comes changes that could affect the way people file their taxes.
The IRS originally intended to begin processing individual tax returns on Jan. 21, but the government shutdown in October forced the date to be moved to Jan. 31. The IRS will begin accepting and processing income tax returns on this date, and employers have been notified that this is the last day to get W-2 information to employees.
"The 16-day government shutdown impacted our schedule to update the systems that process tax returns," said IRS Field Media Relations representative Jennifer Jenkins. "That was sort of our crunch time where we're pushing those forms through and getting all the systems online and ready to go. We were able to make up for some lost time, but we still had to shift the date back to Jan. 31."
Jenkins said that despite the late start date, the time it takes to send out tax refunds will not be impacted.
"This year we're looking at a 21-day turnaround for refunds," she said. "Last year, over 90 percent of the time we were able to issue refunds, particularly ones that are filed electronically, in a 21-day window."
For the full story, see the Saturday, Jan. 18 edition of the Wapakoneta Daily News.