The IRS won’t process tax returns until Jan. 31, but many taxpayers are e-filing now so their 1040s will be first in line when filing season officially opens.
Let electronic tax filing begin! That’s the word from the Internal Revenue Service on Friday as the tax agency begins accepting e-filed returns. Of course, if you’re itemizing expenses on Schedule A or claiming a couple of other deductions directly on your 1040, your return won’t be processed for a few more weeks. But IRS Senior Executive David Williams says to e-file
Are the tax gods conspiring against tax refund anticipation loans? It appears so. The partnership between the nation’s largest tax preparation firm and its refund loan lender is over. These short-term loans, often referred to as RALs, have long been popular among impatient taxpayers who don’t want to wait for the Internal Revenue Service to send