It’s Tax Time

Taken from a Office of Personnel Management Retirement Readiness Now e-newsletter

 We have come to the end of another year, we say “GOOD-BYE” to 2014 and “HELLO” to 2015!

It’s time to start thinking about completing your 2014 tax returns.

The IRS will begin accepting tax returns electronically on January 20. Paper tax returns will begin processing at the same time.

The decision follows Congress renewing a number of “extender” provisions of the tax law that expired at the end of 2013. These provisions were renewed by Congress through the end of 2014. The final legislation was signed into law December 19, 2014.

“We have reviewed the late tax law changes and determined there was nothing preventing us from continuing our updating and testing of our systems,” said IRS Commissioner John Koskinen. “Our employees will continue an aggressive schedule of testing and preparation of our systems during the next month to complete the final stages needed for the 2015 tax season.”

The IRS reminds taxpayers that filing electronically is the most accurate way to file a tax return and the fastest way to get a refund. There is no advantage to people filing tax returns on paper in early January instead of waiting for e-file to begin.

More information about IRS Free File and other information about the 2015 filing season will be available in January, the information can be found on the IRS website, http://www.irs.gov.