OnPoint on WACH Fox: Ready, Set, File your taxes!
COLUMBIA, S.C. (WACH) - It is officially tax season. So on this week's OnPoint on WACH Fox we look at everything you need to know to keep the tax man from knocking at your door.
Filing for the 2017 tax year started on Monday, January 29. This year, the IRS bumped the deadline to ?le returns to April 17 because the traditional ?ling date falls on a Sunday. Emancipation Day, a legal holiday, will be observed on Monday, April 16.
A lot of people will be keeping an eye on their mailbox over the next few weeks because all the tax-related information you need to prepare your return should be on its way.
There's also good reason to get organized and ?le in a timely fashion this year. Experts have said a massive Equifax breach that impacted more than 140 million people could contribute to tax fraud.
Even if you submit your return early, you'll have to wait a while for your refund if you claim the earned income tax credit or the additional child tax credit.
Those who choose direct deposit will receive that money starting on Feb. 27. The IRS has delayed refunds on returns claiming these two credits in order to give the agency more time to detect phony returns and keep cash out of the hands of thieves.
We'll have a local tax professional in our studio to let you know the do's and dont's of tax season.
We'll also have a musical performance from Midlands musician, Seventh, who will be performing at a special Valentine's Day event being offered by Chayz Lounge in Columbia.