Early this week IRS announced that the 2016 filing season will start on time. There are a few small changes to note, however.
This year, the IRS will begin accepting paper and electronically filed returns on Monday, Jan. 19, 2016. This is one day ahead of last season's start date. The date will apply to all filers, unlike in the past when there were tiered opening seasons based on the type of return. The IRS expects to receive more than 150 million individual returns in 2016, with more than four out of five being prepared using tax return preparation software and e-filed. Remember, there is no advantage to filing tax returns on paper vs. e-file.
This good filing news comes on the heels of recently enacted tax extenders which were signed into law by President Obama this week. There was some concern that tax season would be delayed if Congress did not sign off on all tax extenders. In the end, however, all extenders in the package were renewed and made retroactive to the 2015 tax year -- with no changes. And so we breathe easy.
The April deadline for 2015 tax returns is April 18, 2016, pushed back from the usual April 15. The extra days to file are thanks to a convergence of the usual April 15 filing due date, weekends, and state and federal holidays like Emancipation Day, a legal holiday in Washington, D.C.
Both North and South Carolina, like most states, follow the federal tax-filing calendar, so returns for those states will also be due on April 18. If you live or do business in other states, be sure to check those deadlines and adjust your tax calendar accordingly.
