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What are the 2017 Tax Deadlines?

There are important 2017 tax deadlines to be aware of. The 2017 tax filing season will begin on Monday, Jan. 23, 2017, and taxpayers claiming certain tax credits should expect a longer wait for federal refunds.

The IRS will begin accepting electronic tax returns on January 23, 2017, and expects more than 80% of the anticipated 153 million individual tax returns to be prepared electronically in 2017.

Although the IRS will begin processing paper tax returns at the same time, it has stated that there is no advantage to filing tax returns on paper in early January instead of waiting for the IRS to begin accepting e-filed returns.

The IRS is required by law to hold refunds from taxpayers claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until Feb. 15, 2017. Additionally, the IRS anticipates that it will take several days for these refunds to be released and processed through financial institutions, and expects many affected taxpayers may not to receive their refunds until the week of February 27, 2017, assuming the returns are filed on January 23, 2017.

Filing Due Date – April 18, 2017 (Federal and NYS)

The filing deadline to submit 2016 tax returns (or extension requests) is Tuesday, April 18, 2017, instead of the typical April 15 date. This year April 15 falls on a Saturday, which would usually push the filing deadline to the following Monday (April 17, 2017). However, Emancipation Day—a legal holiday in the District of Columbia—will be observed on April 17, 2017, which pushes the nation’s filing deadline to Tuesday, April 18, 2017.

Under the tax law, legal holidays in the District of Columbia affect the filing deadline across the nation. New York State acknowledges this deadline and requires filing by April 18, 2017 as well.

This results in a few extra days of tax preparation for those last-minute filers.

Tax Form Due Dates –

Form IRS Electronic Filing Recipient/Participant Copy

 

1097-BTC

 

March 31

 

On or before the 15th day of the 2nd calendar quarter (5/15, 8/15, 11/15, and 2/15 of the following year)

 

1098

 

March 31

 

January 31

 

1099

 

March 31

 

January 31

February 15 for Forms 1099-B, 1099-S, and 1099-Misc (if amounts are reported in boxes 8 or 14)

 

1099-MISC

Box 7 data for NEC

 

January 31

 

January 31

 

1099-MISC

No data in Box 7

 

March 31

 

January 31

 

3921

 

March 31

 

January 31

 

3922

 

March 31

 

January 31

 

5498

 

May 31

 

January 31 – for FM/RMD

May 31 – for contributions

 

5498-SA

 

May 31

 

May 31

 

5498-ESA

 

May 31

 

April 30

 

W-2G

 

March 31

 

January 31

Note: If any due date falls on a Saturday, Sunday, or legal holiday, the return or statement is considered timely if filed or furnished on the next business day.

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