It is that time of the year when cold temperatures, seasonal mood disorders, and a whole new year ahead of us feeling, you know what that means – tax season has arrived. I will go over 2018 when taxes due, start, and updated extension dates.
It exciting time for many this time of the year because you are getting a portion of your money back from paying taxes this past year, and for others especially business owners it is time to get the spreadsheets, calculators, and data from last year and start cracking the numbers.
Many people use this money to book a vacation, purchase some electronic device that they have been eyeing, or even pay off debts. Anyway, for most students this is just an extra money that you get every year. Check out my post on company that will reinvest money for you.
When Can I Start Filing Taxes?
You can start filing your taxes on Monday, January 29, 2018. It does not mean that you cant start until then, file your taxes as soon as you can just to get it out of the way. If you file before 29th of January, the companies that you filed taxes with will hold your returns and submit them on 29th of January, 2018. The returns cannot be submit them electronically to IRS before the 29th of January, 2018.
If I were to be in your spot I would just wait until January 29 and then file the taxes because either way you will not get them until the processing becomes available at IRS which opens on 29th of January.
When will I Get My Refund?
On average and a standard, the IRS is able to process 9 out of 10 refunds in less than 3 weeks.
In other words you will most likely get your refund within 21 days of filing after January 29th.
Where Should I File My Taxes?
Check out my post on Credit Karma because I believe that this is the best and simple way to E-file taxes. I used them last year to file my taxes and it was relatively easy and very interactive system on taxes information entries.
I would highly recommend filing taxes online because it really is the simplest, safest, and most reliable option for filing the taxes.
When is the Deadline for Filing Taxes?
Simple answer is April 17th. If, you just end up forgetting or are unable to file the taxes before then, you can file “Taxes Filing Extension” but you must remember that in order to get the taxes filing extension you must make sure to postmark it by April 17th.
An extension of time to file does not affect anything other than giving you extra time to file the taxes, you will still need to file taxes of provide an estimate to the IRS by the deadline date.
The deadline on the 17th of April does not mean that they must receive your taxes information by that date. What it means is you can still file taxes on the 17th but not the 18th unless you have extension of filing.
It really is exciting time of the year for me. Before, I used to buy some gadgets but over the past two years I have been reinvesting the money into places like stocks where I purchase more shares for companies I have been following or buy more shares in addition to the ones I already have. See my post on the company that will grow your money without you doing anything.