Income tax filing season gets underway

Melba UnderwoodJan 24, 2017

Taxpayers beginning January 23 can start downloading paper tax forms from the department's website, but the department is encouraging all taxpayers "to file electronically for the fastest, most error-free return processing", LDR's website states.

This year, the deadline for filing will be April 18th.

IRS Commissioner John Koskinen says the agency is sensitive to the fact that many of these taxpayers need their refunds to pay bills or settle debts.

Free filing options - almost two million IN taxpayers qualify to file their federal and state income taxes online for free using IN freefile.

Another thing to remember is you might not get your tax refund as soon as you'd like. Taxpayers get a few extra days, until Tuesday, April 18, to file their 2016 tax returns, because April 15 falls on a Saturday, and April 17 is Emancipation Day, a holiday that is observed in Washington, D.C. A number of new provisions are being added in 2017 to expand progress made during the past year.

Beshear and his Office of Senior Protection and Mediation recommends these tips from fraud.org to help Kentucky families avoid falling victim to tax-related identity theft. "That's really what a lot of the tax ID thieves do - they file a tax return very quickly, claim a bogus refund under your name, and then when you go to file your legitimate tax return before the tax deadline, it gets rejected".

The alternative minimum tax is still around, but the exemption has increased to $53,900 for single taxpayers, $83,000 for those married filing jointly and $41,900 for married filing separately. "The electronic filing PIN is no longer an option".

The earned income tax credit is one of the federal government's largest anti-poverty programs.

After refunds leave the IRS, it takes additional time for them to be processed and for financial institutions to accept and deposit the refunds to bank accounts and products.

"Note that the Additional Child Tax Credit is not a credit for additional children". The I.R.S. says it will continue to combat refund fraud and identity theft.

"Basically, if you have any portion of your Child Tax Credit 'left over, ' you may be eligible to receive some or all of it as a payment through the Additional Tax Credit", the IRS explains.

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