Tax season is a source of anxiety for many people, but Stoneham Ford is here to help!
There are so many different forms and rules that it makes filing taxes difficult and confusing. However, there is light at the end of the tunnel. Due to some common sense changes, filing taxes in 2017 could be easier.
Filing taxes will be less complicated due in part to the recently passed Protecting Americans from Tax Hikes Act of 2015 (PATH). Beginning in 2017, employers will be required to file employee tax information—W-2 forms for traditional employees and 1099-MISC for freelancers that earned $600 or more—by January 31. This is nearly a full month earlier than the date at which employers were previously required to have their taxes filed.
This extra time will make filing your taxes much less stressful since you will have a full 30 days of extra time to file your taxes. Freelancers are one group of people that will be especially happy to have more time since they often have to file for multiple different businesses, and businesses often ignored the previous deadline anyway.
All of this is good news for the American taxpayer. Anything that helps make tax season less stressful is a win for the entire country.