What You Need to Know for 2017 Taxes - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

What You Need to Know for 2017 Taxes

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This week is the first week you can file your taxes, and that means Nevadans who are expecting a refund are getting their returns done. There are also some changes this year.

Kenneth Martinez, a Reno security guard, was at the H&R Block office on South Virginia right when it opened at 9AM Tuesday morning. Why so early? He's counting on early money...the instant tax refund H&R Block and other tax preparers offer to those who qualify. As he told us, "It's an advance on your loan that you can use. Then after you use that, you pay it back at the end of tax season."

This week, and the last two weeks of tax season are traditionally the busiest times here. Not this year. H&R Block Reno Tax Advisor Dena Wiberg told us, "It’s because a lot of people don't even have their W-2s yet. The IRS has required they be out by January 31st, but with some of the changes the IRS is requiring, there's a delay in the W-2s being out."

Ahhh changes. Let's start with that delay. Wiberg says it’s because “there's a verification code on the W-2 that is required, and it’s just taking longer for employers to get the W-2s out." The code hopes to catch ID crooks and stop their fake returns.

Number 2: There's a new deadline date. Wiberg told us, "Every once in a while it happens. Last year was April 17th because of the holiday, so every once in a while it changes the date." This year it's the 18th, and here's why, April 15th is a Saturday. That moves the deadline to Monday, but that happens to be a holiday in D.C., so the deadline is now Tuesday the 18th. That's three extra days to file and pay if you owe.

Number 3, and this one hurts: Delayed refunds this year. That's another part of the IRS crackdown on tax-return scams. It only affects those claiming the earned income tax credit, or the additional child tax credit. "So refunds for those types of tax returns will not begin to even process until February 15th, causing a delay in refunds up to February 27th."

Martinez has neither credit. His eyes are on the prize, and the check, he expects as early as he can get it, is for, "Getting my car fixed, or doing something fun with the kids. Fun money, yes sir."

There will also be fewer audits this year, thanks to budget cuts by congress that left the IRS with over 5,000 fewer auditors since 2010. Last year they processed the fewest audits in a decade, and that trend will continue this year.

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