A new year brings adjustments to our tax rates, standard deductions, exemption amounts, retirement plan contribution limits, and more. In this quick guide, we want to help you prepare for the year ahead by sharing some of the limits and rates that you might reference throughout the year. Keep in mind that these numbers are NOT to be used to file your 2016 tax returns this April.
The general information provided below is from Prudential Financial’s annual Easy Reference Tax Guide. It is not meant to cover all situations so please consult your tax professional for answers to specific questions.
DID YOU KNOW? April 18, 2017 – Tax filing deadline for 2016 returns
In 2017, April 15 falls on a Saturday. This would usually move the filing deadline to the following Monday, April 17. However, Emancipation Day, a legal holiday in the District of Columbia, will be observed on that Monday and that pushes the nation’s filing deadline to Tuesday, April 18, 2017. Under the tax law, legal holidays in the District of Columbia affect the filing deadline across the nation. (IRS.Gov)