Starting today, February 1, the IRS is able to accept e-filed tax returns. Therefore, it is also the official launch of the tax season for CPAs and EAs everywhere. If your filing information has already been delivered to your tax preparer and they have prepared it for filing, they can now transmit it to the IRS.
Early filing is recommended, but what constitutes too early? If you can be absolutely certain that you have received all your tax data from other, then you are ready. However, if you provide all you data to your CPA or EA and they complete the returns only to find you receive another 1099, k-1, or some other tax form once the return is prepared, it required them to re-do the return. This costs time, consumes supplies, and delays filing. Worse yet, if your return has already been e-filed, the late received data may require an amended return to be prepared.
We generally review the items included on your return in the prior year and if something was there last year and not there this year we will attempt to follow up with you to avoid the missing information problem. Taxpayers can help by giving the providers of tax data a few extra days to get it to you.
This year, due to the IRS delays and new filing requirements, it is in your best interest to make the filing as efficient as possible; in the long run it will save you time and expense. IRS requires professional preparers to do more on every tax return now than ever before. You can help by having your information assembled in an orderly fashion and by completing the organizer provided to help in this regard. We are committed to providing the best possible experience for our clients during the tax season and welcome any suggestions you wish to provide.