The Chinese have a proverb that goes “may you live in interesting times”. Actually, it’s a curse, and it may not even be Chinese, but after the past year I feel the gist! On a “brighter” note, Washington was so busy trying to get re-elected that they didn’t have time to think up new ways to bungle the tax code. So, yay for that little win.
The IRS, however, has been busy trying to reduce fraud. New this year, they will be holding up all refunds with either EIC (Earned Income Credit), CTC (Child Tax Credit), or AOTC (American Opportunity Tax Credit / College Tuition Credit) until at least February 15. I know, tax mumble jumble, so I’ll rephrase. The IRS will be holding up pretty much ALL refunds until February 15. We know some of you really need this money, so we have brought back Cash Advance Loans against your tax refunds of up to $1200. Ask your preparer details.
Also new this year, you can Securely Send Files to Tax Facts using our secure portal (like Drop Box). Just click the link in this email or at our website and use the Guest Upload button. This is safer than emailing us your information without encrypting (password protecting) it.
Our January 2017 Newsletter is out and covers some additional tax changes and other crap I know you guys don’t want to read about, but you really should!
The first day we can efile personal income tax returns this year is January 23, 2017. Until then, we are in the office M-F 9-4, so call or email if you have any questions or want to make an appointment.