Tax Filing Open Season Is ON! - The Broke Professional

Tax Filing Open Season Is ON!

It’s actually tax season!

People love the new year for many boring reasons.  You can lament the past year (2016 wasn’t THAT BAD.  Famous people die every year).

A new year also signifies a fresh start.  That could mean a new healthy diet or starting to break some bad habits.

But most New Years resolutions die fast, so I like the new year for a different reason.  TAX TIME!

And it’s not because I’m getting a big refund.  I try to get as small of a refund as possible.  That’s because getting a large refund means you had the government hold your earned money last year.  But that’s for another post.

I just enjoy getting tax related letters in the mail and having a nice folder at the end of February with all of my financial information from 2016.  Doesn’t get much better than that.

That being said, today is a big day for me.

January 23, 2017 is the first day the IRS will accept tax returns.  This includes paper and e-file.  And why are you still using paper??

Here are some other key dates to remember:

January 31, 2017: Date by which you should have received your W-2 from your employer.

February 16, 2017:  Financial and investment institutions must mail out their various forms, including 1099’s which report any withdrawals from retirement accounts.

April 18, 2017: Tax Day!  Last day to file federal income tax returns and any extension requests.

October 15, 2017:  Last day to file federal taxes for those who had approved extensions.

This post is simply a public service announcement for the start of tax filing.

Next week I will outline where you can get your taxes done, and how it can possibly be FREE!

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