Tax season 2018: Go ahead and mark down these important dates

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Tax season 2018: Go ahead and mark down these important dates
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We’re just days away from the opening of tax season 2018. According to the Internal Revenue Service (IRS), some 155 million individual tax returns will be processed in 2018.

Here’s an overview of what you can expect this year…

RELATED: New IRS tax withholding tables mean your paycheck might be getting a little bigger soon

Key 2018 tax dates to know

People are already buzzing about the new IRS withholding tables and the bump they’re expected to bring to your paycheck starting next month.

But before that happens, there are already some key tax dates in play right now.

JANUARY 12

Free File software opens for anyone with income below $66,000.

Through this program, taxpayers can file their federal taxes with free and easy-to-use software. Free state return options are available, too.

RELATED: Free tax filing options from the IRS Free File program

JANUARY 15

Martin Luther King Jr. Day is a federal holiday during which no business is transacted.

JANUARY 29

The IRS will begin accepting e-filed returns and traditional paper tax returns.

While you were able to file with most software companies and tax professionals earlier in the month, they were required to hold your return until this date.

Meanwhile, for people with incomes above $66,000, Free File fillable forms become available on January 29. The IRS anticipates that paper returns will begin processing in mid-February.

FEBRUARY 19

Presidents Day is a federal holiday during which no business is transacted.

FEBRUARY 27

This is a key date if you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) and are waiting for a refund.

While your return gets processed as soon at it is received, the IRS is required to hold your refund until mid-February if you claimed either of these two credits.

Therefore, the IRS says that February 27 is the earliest EITC or ACTC-related refunds will be available to taxpayers — provided you picked direct deposits and there are no other issues holding up your return.

APRIL 15

Good news, procrastinators! April 15 is the traditional Tax Day, but it falls on a Sunday this year.

That means the date your taxes are due gets pushed back to the next business day. Sort of…

APRIL 16

Emancipation Day — a legal holiday in the District of Columbia — is observed on Monday, April 16.

So that effectively pushes the entire nation’s filing deadline one day later.

APRIL 17

Third time’s a charm, right?

Tuesday, April 17, 2018 is the IRS filing deadline this year. Either get your tax return in by this date or make sure you file for an extension!

RELATED: What to do when you can’t pay your taxes

The IRS is now hiring private debt collectors

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Theo Thimou About the author:
Theo has co-written several books with Clark Howard, including the New York Times #1 bestseller Living Large in Lean Times. As a single widowed parent of two young children, he strives to bring savings tips to that unique subset of individuals. He can be reached at theo@clark.com.
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