Prepare for take-off! Tax Season came early this year.
The IRS has announced the start of the 2016 tax season to be Tuesday, January 19th. That is officially one day earlier than last year.
And just in case that didn’t knock your socks off, here’s even more good news. The IRS will not have a tiered opening season this year. Contrary to prior years, taxpayers filing a paper tax return will have the same start date as taxpayers who choose to e-file.
Can I prepare my tax return earlier than January 19th?
Yes, you can. At Rapidtax.com, we provide our services even earlier than the IRS official start date. Keep in mind that this does not mean that your return will be e-filed by the IRS before January 19th but you will be able to create an account and enter all of your information early. After you submit your account, we will handle the rest and make sure your return is e-filed as soon as the IRS opens for filing.
What should I do next?
In early January, you will be able to create an account on Rapidtax and begin entering your information as you gather all necessary documents. Some documents and information that you will need include the following:
- Personal Info: SSN, DOB, bank account and routing numbers, etc.
- Dependent Info: SSN, DOB, relationship to you, etc.
- Income Info: W-2 form(s), 1099 form(s), SSA form(s), alimony received, etc.
- Adjustment Info: student loan interest, tuition paid, IRS contributions, etc.
- Deduction & Credit Info: receipts and documentation for all expenses if you plan to itemize
- Tax Paid Info: real estate tax paid, personal property tax paid, state tax paid, etc.
Don’t procrastinate this year. The IRS doesn’t wait for anyone.
You wouldn’t arrive late to the airport for your flight and expect the plane to still be waiting in the terminal. You would be charged extra to take the next flight out. It works the same for taxes. If you’re late to file, there will be penalty fees to pay…and they add up quickly. At Rapidtax, we’ll keep you updated on all start dates and deadlines this season so that you won’t be stuck using any of your refund money on tax penalties.