Refund update time! You know all those refunds the IRS said they would hold until at least February 15th? Well, they’ve turned the money spigot on and it’s flowing big time, so if you’ve been waiting for your refund, look for it over the next few days. From here on out we expect the IRS to take 1-2 weeks like previous years. Georgia has a burr in their butt or something, because they’ve been issuing refunds in as little as 2 days, though for most people it’s still a week or so.
In other news, the President has issued an Executive Order to minimize the “burden” of not having health insurance, and now the IRS has said they will no longer require people to prove coverage. Alas, silly government, it’s not quite so simple as that! If you bought health insurance from the Exchange (Obamacare), you should receive a 1095-A and we do need it. Pretty much everyone else should receive a 1095-B or 1095-C, and we don’t need those, but we like to see them anyway.
In more other news, our wonderful government is talking major tax reform and simplification. All I can say is ROFLMAO! Our government simplifying anything?! Ah, they’re killin me! I’ll believe it when I see it!
Reminder – S-Corps are still due on 3/15/17, but starting this year, so are Partnerships!