Internal Revenue Service Accepts Individual Tax Returns from 31st January 2014

Sunday, February 2, 2014 Print Email

31st January 2014 is the day that the Internal Revenue Service will begin the tax season after it had earlier postponed as a result of the shutdown by the federal government that caused a delay in carrying out tests and implementing some of the computer systems.

On the same note, IRS is beginning this tax season by having a new commissioner on board by the name John Koskinen. This gentleman has been approved newly by the congress and is here to give solutions to some problems that came up during the last year. This also entails the agency’ unit of organization and also ensuring adherence to cutting budgeted costs which have reduced the services of the tax payer.

To a great length, IRS is welcoming the new system of filing tax returns electronically and keeping in mind that hundreds of thousands of tax payers prefer the IRS e-filing. Through the e-file, the tax payers have made an e-file of close to one billion Form 1040 series.

Moreover, IRS are spreading the word to every tax payer to take advantage of the free filing program that it gives through the vendors of the tax software who are members of the Free Filing Alliance. Beginning from 17th January 2014, the tax payers were in a position to begin making use of the Free file software, unfortunately, the vendors of the tax software had it held back till the 31st January.

With the beginning of the tax season, the IRS is marking the EITC Awareness Day thereby educating the tax payers who are entitled to know of the ability of claiming the earned income tax credit. Nevertheless, the tax practitioners require to have a due diligence checklist filed for those clients claiming for EITC.

Right on its home page, the IRS noted that for those tax payers who concern themselves with requirements of health insurance filing, in case they do not have a requirement in tax filing, they do not require filing a 2013 federal tax return for establishing the future eligibility or how to qualify financial assistance I future. 

Source: ReadyRatios

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