IRS Delays Individual Return Processing Until January 31st

If you were counting on filing your tax return early in order to capture a quick refund, the IRS has thrown a wrench into your plan. Because of the 16-day government shutdown in the fall, the IRS has announced that it will not begin processing individual returns until January 31st. This processing date reflects a 10-day delay from its original plan to begin processing those return on January 21st. This delay applies to paper-filed and electronically-filed returns. The deadline for filing your individual return remains April 15th.

As a practical matter, employers and businesses have until January 31st to furnish Forms W-2 and 1099. If you have investment income, many brokerage houses request extensions for providing tax documents necessary for you to file your return. Even after tax documents are mailed, many of these documents will be replaced with corrected information that will delay your efforts to file your return.

Dent, Baker will mail tax organizers to its clients within the next few weeks. We encourage you to compare the information in your organizer to the tax documents you will begin receiving this month in order ensure completeness of information.

If you have any questions as you begin assembling your information, please contact our office.