Procrastinators who are unable to meet the April 15 deadline for filing their taxes will get three extra days next year.
Internal Revenue Service announced that tax season begins Jan. 23 and said that April 18, rather than the traditional April 15 date, is the deadline for filing taxes. April 15 falls on a Saturday, and Monday is Emancipation Day — a legal holiday in the District of Columbia. Under the tax law, legal holidays in the District of Columbia affect the filing deadline across the nation.
More than 153 million tax returns are expected to be filed, with four out of five tax returns expected to be prepared electronically using tax preparation software. The IRS said in a press release that many software companies and tax professionals will be accepting tax returns before Jan. 23 and submit the returns when IRS systems open.
A new law requires the IRS to hold refunds claiming the Earned Income Tax Credit and the Additional Child Tax Credit until Feb. 15. That means many taxpayers won’t have access to their refunds until the week of Feb. 27 due to Presidents Day Weekend.