Those W-2s and 1099s probably have been landing in your mailbox – or computer – for a couple of weeks or so. Now, taxpayers are able to fill in their returns and fire them off to the Internal Revenue Service.
Today is the first day of the filing season for individual taxpayers. to pay income taxes or file for a refund! We’ll all have until April 17 this year to pay income taxes or file for a refund! The filing deadline once again has been pushed back a couple of days because of a holiday in the nation’s capital.
The Minnesota Department of Revenue also has been obliging enough to coordinate its processing season with the federal dates. So, state tax returns also are due at the end of the day on April 17.
Last year, more than 2 million Minnesotans filed their returns electronically. Minnesota Revenue is telling taxpayers that security programs to prevent tax fraud might slow down refunds this year, compared with 2016. So, “Don’t spend your refund until you see the money in your bank account,” the agency advised in an announcement.
When can you expect your refund? Minnesota Revenue operates a tracking service called “Where’s My Refund?” Once they’ve filed, a taxpayer can locate the refund at one of four stages. The online service also tells whether the department need something more to finish processing the return.
It typically takes 21 days or less for a taxpayer to receive his/her refund, the department said. A YouTube video explains more about the refund service. Find it at https://www.youtube.com/watch?v=GTeeyElYT_M&feature=youtu.be
Current EricJohn Ltd. clients should try to submit the figures to owner/tax preparer Eric Buechler as soon as possible. Sooner is better! New clients can call to arrange for tax preparation or discuss tax issues. Eric is an enrolled agent with the IRS, which allows him to represent clients directly before the IRS on tax matters.