Happy New Year! We are looking forward to the 2014 Tax Season which will kick off on January 20, 2015.
IRS NEWS From WASHINGTON -- "Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January.
The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns will begin processing at the same time.
The decision follows Congress renewing a number of "extender" provisions of the tax law that expired at the end of 2013. These provisions were renewed by Congress through the end of 2014. The final legislation was signed into law Dec 19, 2014.
"We have reviewed the late tax law changes and determined there was nothing preventing us from continuing our updating and testing of our systems," said IRS Commissioner John Koskinen. "Our employees will continue an aggressive schedule of testing and preparation of our systems during the next month to complete the final stages needed for the 2015 tax season."
The IRS reminds taxpayers that filing electronically is the most accurate way to file a tax return and the fastest way to get a refund. There is no advantage to people filing tax returns on paper in early January instead of waiting for e-file to begin.
More information about IRS Free File and other information about the 2015 filing season will be available in January." --PUBLISHED BY THE IRS. For more information, please go to IRS.gov.
There are plenty of new "rules" and "regulations" that should benefit you to know about. Through out this month, I will be updating you on these new laws. Please come back to this blog regularly to receive this information. Please contact me anything if you need this information in advance. Any questions about W2s, 1099s, and any other documents that you will be receiving, please feel free to contact me at anytime through this site or at valerie.chowdhury@gmail.com. In addition, please feel free to give me a call at (213) 820-1513. All tax preparation can also be done over the internet to save time.
