Tax Season Now Underway, Can File IRS Returns - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Tax Season Now Underway, Can File IRS Returns

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From internal revenue service:

the internal revenue service today opened the 2014 filing season by highlighting a growing array of online services and encouraging taxpayers to check out a variety of tax benefits, such as the often-overlooked earned income tax credit.

Taxpayers have until tuesday, april 15, 2014 to file their 2013 tax returns and pay any tax due.   The irs expects to receive more than 148 million individual tax returns this year, and more than four out of five returns are now filed electronically.

About three out of four filers typically get refunds, and the irs issues more than nine in ten of these refunds in less than 21 days. Last year, taxpayers received an average refund of $2,744. E-file, when combined with direct deposit, is the fastest way to get a refund. More than three out of four refund recipients now choose direct deposit.

"tens of millions of people will file their taxes in the next few weeks, and we encourage taxpayers to visit as the best place to get quick help," said irs commissioner john koskinen. "we continue to add features and make it more user-friendly to help taxpayers. People can get everything from answers to tax questions about preparing their tax return to checking the status of their refund after they file."

the irs began accepting and processing individual tax returns today after updating tax forms and completing programming and testing of its systems. The irs also has updated and strengthened its systems to help protect against refund fraud and identity theft. This annual updating process saw delays in october following the 16-day federal government closure.

Lorraine bruan from jackson hewitt said there are a number of forms you need to make sure you bring to file.

"have your social security card, driver's license or some form of i.d. Of all the people that are on the return, as well as their w-2's any documentation that substantiate their income."

braun says there are some changes this year.

For instance, the medical deduction has been increased to ten percent of your gross income, as opposed to seven and a half in prior years.

"Just remember, if somebody needs an extension, it's not an extension to pay, it's only an extension to file. Any fees that are due after April, 15th, are still going to be subject to interest and penalties."

from Internal Revenue Service

Chris Ciarlo contributed to this report

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