December 7, 2016
The following are changes to areas of the federal tax law that will affect 2016 federal income tax returns for the upcoming 2017 filing season.
Delay in Refunds for Federal returns claiming EITC or Additional Child Tax Credit
Beginning with the 2017 filing season, refunds for tax returns that claim EITC or the Additional Child Tax Credit will be held until February 15.
Therefore, any return that claims one of these credits that is prepared in the early part of the filing season will not be deposited until just after February 15 instead of in the normal timeframe.
See the IRS news release IR-2016-152 of November 22, 2016 for further information on this delay in refunds.
Earned Income Tax Credit (EITC)
Child Tax Credit and American Opportunity Education Credit
Due Dates for Federal Corporate and Partnership Returns
The due dates for federal C Corporations and Partnership returns have been changed as follows:
When a Rental Activity Can Be Included as Qualified Business Income
March 19, 2019
Safe Harbor Rule for Autos that Claim Bonus Depreciation
February 27, 2019
2018 Federal Return and Taxpayer Expectations
January 30, 2019
Reminder of 2018 Itemized Deduction Changes
January 16, 2019
Qualified Business Income Deduction (20% Deduction for Certain Pass-Through Income)
January 9, 2019
Reminder of Form 1040 Redesign
January 2, 2019