Taxes are a crucial part of the economy. “Paying” your part in the betterment of your country is a very right concept. For the people of the United States of America, the government has created a reasonably convenient system that allows them to pay their taxes. Not enough stress can be put on how important it is to do this activity. This is also why we have such organized campaigns that are held every year to assist people in filing their taxes. However, while this is something that everyone does, there is a question that is asked quite frequently. For all the taxes I have filed, what refund will I receive and when will I receive it? To help you find out about the process of return this year, we are sharing a detailed IRS 2017 Tax Refund Schedule.
The official date set for the beginning of the filing process in IRS 2017 Tax Refund Schedule is 23rd January 2017. While this may be the actual date, there are software applications out there that can let you “file” your returns with them in advance. They hold your data until the arrival of the actual date and then send them to the IRS for you on the designated date as per IRS 2017 Tax Refund Schedule.
Due Date and Extension
The due date for filing your tax returns is 15th April 2017. It is extremely important that you don’t miss this deadline and ensure that you have filed your tax returns within this period. For some people, it may not be possible to follow this date as per IRS 2017 Tax Refund Schedule. For such people, there is an option to apply for an extension time of their tax filing. This gives you a few extra months to settle your affairs properly and in time. The process of filing for an extension is quite easy and can be done if such a need arises. However, it is accepted that IRS 2017 Tax Refund Schedule is quite flexible in the first place, allowing plenty of time to file your taxes.
Getting a refund is quite important to a lot of people and even if it isn’t, who doesn’t like having money? For 9 out of 10 people, the returns are made by the IRS within 21 days of their tax returns being accepted. It is a very rare thing to see a delay in the tax return period, and typically, most people receive it within 10 to 14 days’ time. However, it seems that this may not be the case in the IRS 2017 Tax Refund Schedule.
Refund Delays Expected
For the tax returns, you will file this year; the IRS has announced that there will be a delay in the refunding process as per the new IRS 2017 Tax Refund Schedule. This is because IRS wants to hold off for early filers that have claimed either Additional Child Tax Credit or Earned Income Tax Credit. The hold-off, however, will impact everyone and not just these particular people. Another reason for this is the IRS wanting to examine in detail the recent rise in the case of identity theft around the country. The process of making the system airtight requires IRS to hold off giving the process of tax refunding in IRS 2017 Tax Refund Schedule. Therefore you are better off owing some taxes this year rather than waiting to get a refund.