Many IRS Tax Return Due Dates Just Changed, FBARs Too

Is your IRS tax return due April 15? Yes, and that date still holds, including the 6 month automatic extension. But many other filing deadlines were just changed by Congress. The due dates for partnership and corporate tax returns were changed, and for those important foreign account FBAR forms, also known as FinCEN Form 114. The changes came in an unlikely vehicle, H.R. 3236, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015. That non-tax law also gave the IRS an increased audit period from three to six years in many cases.

Starting after December 31, 2015:

2015 IRS e-file Refund Cycle Chart

This has not been and will not be published by the IRS. They have adopted a standard of issuing refunds for the most part within 21 days of your return being accepted. However, many sites now try to estimate dates when refunds will be sent and the IRS e-file Refund Cycle Chart for 2015 with Direct Deposit and Check dates are only estimates. 

Here are the latest dates published:

Falsifying Income to Claim Tax Credits Hits the IRS “Dirty Dozen” List of Tax Scams for the 2015 Filing Season

 WASHINGTON — The Internal Revenue Service today warned taxpayers about schemes to erroneously claim tax credits is on the annual list of tax scams known as the “Dirty Dozen” again for the 2015 filing season.

“Scam artists don't miss a trick and they can entice taxpayers to falsely inflate income on returns to claim tax credits they are not entitled to receive," said IRS Commissioner John Koskinen. "Taxpayers are ultimately responsible for the information on their tax returns, and I urge everyone to file the most accurate return possible."

Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire professionals to do so.

Illegal scams can lead to significant penalties and interest and possible criminal prosecution. IRS Criminal Investigation works closely with the Department of Justice (DOJ) to shutdown scams and prosecute the criminals behind them.

Don’t Create Fake Income to Qualify for a Credit

Some people falsely increase the income they report to the IRS. This scam involves inflating or including income on a tax return that was never earned, either as wages or as self-employment income, usually in order to maximize refundable credits.

Just like falsely claiming an expense or deduction you did not pay, claiming income you did not earn in order to secure larger refundable credits such as the Earned Income Tax Credit could have serious repercussions. This could result in taxpayers facing a large bill to repay the erroneous refunds, including interest and penalties. In some cases, they can even face criminal prosecution.

Taxpayers may encounter unscrupulous return preparers who make them aware of this scam. Remember: Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone else. Make sure the preparer you hire is up to the task.

Here are a few tips when choosing a tax preparer:

EITC Awareness Day, January 30, 2015

IRS invites community organizations, elected officials, state and local governments, schools, employers, and other interested parties to join a national grassroots effort on EITC Awareness Day, January 30, 2015, to spotlight EITC. IRS estimates four of five eligible taxpayers claim and get this important credit. Help ensure everyone gets the EITC they earned.  Best of all, EITC is a financial boost for working people and your local economy.

EITC Awareness Day Vision Statement

EITC Awareness Day is a one-day blitz in mainstream and social media -to reach the broadest possible range of potentially-eligible taxpayers, including taxpayer segments we believe under claim EITC and newly eligible taxpayers.

For the last 40 years, Earned Income Tax Credit made life better for millions of workers. You may have extra money waiting for you. If you qualify and claim the credit, it could be worth $6,143 from the IRS for some workers.

Don’t be the one in five that misses this credit. If you or someone you know earned less than $52,427 from wages, running a business or farm or from Form 1099 Misc, check it out.

It’s easy to find out if you qualify. Stop by any National Tax Service store, answer a few questions about yourself and other family members to see if you qualify and estimate the amount of your credit.

EITC eligibility depends on several factors, including income and family size. If you don’t have a qualifying child and earned under $20,000, find out if you qualify for a smaller credit, worth as much as $496.

Tax Season Opens As Planned

IR-2014-119, Dec. 29, 2014

WASHINGTON -- Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January.

The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns will begin processing at the same time.

The decision follows Congress renewing a number of "extender" provisions of the tax law that expired at the end of 2013. These provisions were renewed by Congress through the end of 2014. The final legislation was signed into law Dec 19, 2014.

"We have reviewed the late tax law changes and determined there was nothing preventing us from continuing our updating and testing of our systems," said IRS Commissioner John Koskinen. "Our employees will continue an aggressive schedule of testing and preparation of our systems during the next month to complete the final stages needed for the 2015 tax season."

The IRS reminds taxpayers that filing electronically is the most accurate way to file a tax return and the fastest way to get a refund. There is no advantage to people filing tax returns on paper in early January instead of waiting for e-file to begin.