Ready for tax season? The IRS wants you and your clients to have all of the resources you need to hit the ground running.

Take steps now for tax filing season

Get ready today to file your 2016 federal income tax return. Changes for the tax filing season include ITINs, delays in refunds and validating your electronically filed return.

You may need to renew your ITIN (Individual Taxpayer Identification Number

All ITINs not used on a federal tax return at least once in the last three years will no longer be valid for use on a tax return as of Jan. 1, 2017. Additionally, all ITINs issued before 2013 will begin expiring this year, starting with those with middle digits of 78 and 79 (Example: (9XX-78-XXXX). All expired ITINs must be renewed before being used on a U.S. tax return.

You may prefer to share ideas for reducing taxpayer burden directly with the Taxpayer Burden Reduction (TBR) Program using Form 13285A, Reducing Tax Burden on America’s Taxpayers.

Delays in refunds for EITC and ACTC

Beginning in 2017, if you claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) on your tax return, the IRS must hold your refund until at least February 15 — even the portion not associated with EITC or ACTC.

Issue Management Resolution System (IMRS): IMRS is an internal IRS system that captures, develops and responds to significant national and local stakeholder issues. When stakeholders notify the IRS of concerns about systemic problems or IRS policies, practices and procedures, analysts research and respond to the issues. For additional information, see link to IMRS. Tax professionals should forward significant issues regarding IRS policies, practices and issues to their Stakeholder Liaison (SL) Local Contacts.

Validating your electronically filed tax return

When self-preparing your taxes and filing electronically, you must sign and validate your electronic tax return by entering your prior-year Adjusted Gross Income (AGI) or your prior- year Self-Select PIN. Using an electronic filing PIN is no longer an option.

IRS news releases with additional information:

Tax Preparedness Series: Special Tax Breaks for U. S. Armed Forces

Tax Preparedness Series: How to Avoid a Refund Delay; Plan Ahead

Tax Preparedness Series: Tax Help for Self-Employed and Sharing Economy

Tax Preparedness Series: This #GivingTuesday Remember Donations May Cut Tax Bills

Tax Preparedness Series: Tax Records — What to Keep

TrackBack URL for this post: