Tax season 2018: Here's what you need to know from the IRS

12 January, 2018, 19:59 | Author: Regina Silva
  • Here's what you need to know about tax season according to the Internal Revenue Service

The Louisiana Department of Revenue has announced the date when it will begin accepting 2017 state individual tax returns. "The IRS strongly encourages people to file their tax returns electronically for faster refunds". Louisiana income tax returns are due May 15. If returns do not trigger any fraud indicators, taxpayers can expect their tax refunds within 60 days of the filing date if they file electronically, and within 14 weeks if they file paper returns. Processing on electronic returns will start January 29; processing on paper returns will start in mid-February.

Normally, April 15th is the final filing deadline, but it falls on a Sunday in 2018 and Monday April 16th is Emancipation Day, a legal holiday in Washington, D.C.

The IRS is reminding taxpayers who are claiming certain tax credits that refunds won't be available before late February.

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The IRS said it will issue nine out of 10 refunds in less than 21 days.

The tax agency also noted that, by law, the IRS can not issue refunds claiming the Earned Income Tax Credit and the Additional Child Tax Credit before mid-February.

- Also, for those utilizing an electronic tax software product for the first time, one's adjusted gross income from the previous year is required for use.

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