The Internal Revenue Service announced plans to open the 2014 filing season on January 31 for all 1040 filers filing their 2013 income tax return. This includes all small business owners that file on Schedule C as sole proprietors, Schedule F as Farmers, or Schedule E as landlords. IRS encourages taxpayers to use e-file as the fastest way to receive refunds.
The government shut down meant the IRS had to change the original opening date from January 21 to January 31, 2014.
The IRS cautioned that it will not process any tax returns before January 31, so there is no advantage to filing on paper before the opening date.
The April 15 tax deadline is set by statute and will remain in place. However, the IRS reminds taxpayers that anyone can request an automatic six-month extension to file their tax return. The request is easily done with Form 4868, which can be filed electronically or on paper.
