On January 4, 2018, the Internal Revenue Service announced that tax collection will begin on Monday, January 29, 2018, and taxpayers are reminded of certain tax credits that the refunds will not be available until the end of February.
The IRS will begin accepting tax returns on Jan. 29, with nearly 155 million individual tax returns expected to be filed in 2018. The nation’s tax deadline will be April 17 this year – so taxpayers will have two additional days to file beyond April 15.
Many software companies and tax professionals accept tax returns before January 29 and file tax returns when IRS systems are opened. Although the IRS will accept both electronic and paper tax returns as of January 29, the paper returns will begin later in mid-February if the system updates continue. The IRS encourages people to submit their tax returns electronically for faster reimbursements.
