2018 Tax Filing Season Begins Jan. 29, Tax Returns Due April 17; Help Available for Taxpayers. IR-2018-01, Jan. 04, 2018. WASHINGTON ― The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February.

When do you get your tax refund in 2018?

Refunds in 2018. The IRS still anticipates issuing more than nine out of 10 refunds in less than 21 days, but there are some important factors to keep in mind for taxpayers. By law, the IRS cannot issue refunds on tax returns claiming the Earned Income Tax Credit or the Additional Child Tax Credit before mid-February.

What are the tax implications of starting a new business?

However, you’ll want to keep this startup business tax tip in mind — any deductible business expenses can be used to directly offset that income. Another tax consideration when starting a business is self-employment tax. Your net profit from your business will be subject to this additional tax.

When does the IRS open for tax filing?

The IRS set the Jan. 29 opening date to ensure the security and readiness of key tax processing systems in advance of the opening and to assess the potential impact of tax legislation on 2017 tax returns.

Which is the federal tax form for 2018?

The revised form consolidates Forms 1040, 1040-A and 1040-EZ into one form that all individual taxpayers will use to file their 2018 federal income tax return. All taxpayers will file using 2018 Form 1040; Forms 1040A and 1040EZ no longer available | Internal Revenue Service Skip to main content

How many tax returns were filed in 2018?

Nearly 184.6 million returns and other forms were filed electronically. These represented 72.9 percent of all filings, an increase of 1.4 percent over the share of electronic filing in FY 2018.

When does the IRS issue tax refunds for 2018?

FS-2018-3, February 2018 — The IRS issues more than nine out of 10 refunds in less than 21 days. However, some tax returns may require additional review, which affects refund timing.

When does the IRS start accepting paper tax returns?

Although the IRS will begin accepting both electronic and paper tax returns Jan. 29, paper returns will begin processing later in mid-February as system updates continue. The IRS strongly encourages people to file their tax returns electronically for faster refunds.

When is the last date to file income tax return?

Last Date for Revision of Income Tax Return for the A.Y 2018-19: 5. Fee for delayed filing of Income Tax return: 1. Due Date or Last Date to File Income Tax Return for Individuals who are mandatorily required to file the Income Tax Return: