Tax Filing Season Dates You Need To Know

nicholas • December 9, 2016

2017 Filing Season Begins January 23rd

The IRS has announced that it will begin accepting electronically filed tax returns on January 23rd, 2017. What does this mean for taxpayers? You can have your tax return prepared earlier than the 23rd if you have all of your documents, however, the tax return cannot be submitted until 1/23/17.

Note: There is no advantage to trying to file a tax return earlier than this by mail, it will not get filed any earlier than the 23rd.

Tax Filing Deadline is April 18th

Typically when you think of the last day to file a tax return, you think April 15th. However, the Tax Gods blessed us with 3 extra days this year! Yay…

This year, April 15th falls on a Saturday. This results in having to move the day to the next business day, which is Monday. However, Monday the 17th is a legal holiday in Washington D.C., Emancipation Day. Therefore, Tuesday the 18th is the last day to file a tax return without an extension to avoid late filing.

Reminder: Refunds To Be Delayed

As I blogged about a couple of months ago, the IRS is delaying certain refunds until February 15th. If you file for certain credits on your tax return, your refund will be delayed to allow extra time to verify the credits that are claimed. The IRS is warning that these refunds may be delayed until February 27th based on workflow. Plan accordingly.

It is always important to plan ahead for your tax return filing. Identity theft is not dead, and a good way to combat it is to file as early as you can. Once you are confident you have all the necessary documents needed to file a tax return, schedule your appointment to come in!

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The COVID Relief Bill Summarized

By nicholas • December 24, 2020
The “rescue package” has arrived. The COVID Relief bill is a whopping 5,593 pages long. I know you don’t want to sit and read through that novel, so I am here to summarize, in plain English, how this bill is going to effect your taxes. Have you ever been on a roller coaster before? A… The post The COVID Relief Bill Summarized appeared first on Talking Tax to Milwaukee.

The Tax Slang Movement

By nicholas • December 4, 2020
This past week, I finally dove into a project that I has been brewing in my mind for a few years. I published my first podcast episode today. Is it any good? I’m not quite sure. To be honest, I’m not too happy with how it turned out. However, I accomplished part of my goal.… The post The Tax Slang Movement appeared first on Talking Tax to Milwaukee.

2020 Year-End Tax Savings Tips

By nicholas • November 13, 2020
Your goal should be to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the cash when you pay less in taxes.   Here are seven powerful business tax-deduction strategies that… The post 2020 Year-End Tax Savings Tips appeared first on Talking Tax to Milwaukee.

COVID-19 Tax Updates

By nicholas • July 31, 2020
  With the 2019 Tax Filing Season just behind us, it is difficult to think of the next filing season, however, there are many issues that need to be addressed now, rather than wait. At this most difficult time for our taxpayers, we want to assure you that our firm is here to assist you… The post COVID-19 Tax Updates appeared first on Talking Tax to Milwaukee.

Milwaukee Restart Grant Program

By nicholas • June 5, 2020
The goal of the Milwaukee Restart Program (Restart) is to help local businesses that suffered as a result of the pandemic to reopen and adapt to the “new normal” Eligibility Restart grants will assist for-profit businesses located in the City of Milwaukee that have 20 or fewer full-time or full-time equivalent employees and greater than $0 but less… The post Milwaukee Restart Grant Program appeared first on Talking Tax to Milwaukee.

Additional Grant Becomes Available For Wisconsin Small Businesses

By nicholas • June 5, 2020
Over the past few months COVID-19 has changed the way a lot of small businesses operate. Some have been unable to be open, some have adapted and changed, and some have even thrived. The Government had made a few loans available to try and help small businesses keep their employees employed and to also cover… The post Additional Grant Becomes Available For Wisconsin Small Businesses appeared first on Talking Tax to Milwaukee.

Finding the Right Accountant to Successfully Guide You Through the Tax Maze

By nicholas • June 14, 2019
Choosing an Accountant Who Puts Your Goals First There is an endless supply of do-it-yourself tax preparation tools and websites, and the sheer volume of options can lead you to believe the process of filing your returns is simple. However, a DIY approach only works if you are satisfied with paying more than necessary. Tax… The post Finding the Right Accountant to Successfully Guide You Through the Tax Maze appeared first on Talking Tax to Milwaukee.

Finding the right accountant to successfully guide you through the tax maze

By nicholas • February 15, 2019
  Choosing an Accountant Who Puts Your Goals First There is an endless supply of do-it-yourself tax preparation tools and websites, and the sheer volume of options can lead you to believe the process of filing your returns is simple. However, a DIY approach only works if you are satisfied with paying more than necessary.… The post Finding the right accountant to successfully guide you through the tax maze appeared first on Talking Tax to Milwaukee.

Does my Rental Property Qualify for the New Section 199A Deduction Under Tax Reform?

By nicholas • February 8, 2019
  How do you know if your rental property qualifies for the 20 percent tax deduction under new tax code Section 199A? Just what we need–something else to learn along with all of the other tax code changes this year. Well, maybe not. There is a piece of good news: we won’t be required to… The post Does my Rental Property Qualify for the New Section 199A Deduction Under Tax Reform? appeared first on Talking Tax to Milwaukee.

Do You Truly Know Your Business Costs? You Better!

By nicholas • December 7, 2018
Your company’s profitability depends not only on sales, but also on effective cost management. Are you adequately addressing the cost side of the business equation? Analyze Your Cost Structure You probably can readily identify the products and/or services that are generating your greatest sales volume. But can you identify all the costs associated with providing… The post Do You Truly Know Your Business Costs? You Better! appeared first on Talking Tax to Milwaukee.
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