Where are All the Taxpayers?

Total individual tax returns received by the Internal Revenue Service.

Delay in Getting Refund

This year, early filers saw a slight delay in their tax refund. According to the IRS, the Protecting Americans from Tax Hikes (PATH) Act mandated the IRS hold refunds on tax returns claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC).

Standard Deduction

The standard deduction for heads of household jumped $50 to $9,300 for the 2016 tax year.

W-2 Verification Code

The tax agency placed verification codes on nearly 50 million W-2 forms that were sent out during tax season, up from 2 million in 2016.

Increase in Health Insurance Penalty

Those choosing to go three or more consecutive months without coverage were obligated to pay a penalty when they filed their taxes.

For 2016, the penalty for not having healthcare rose to 2.5% of total household adjusted gross income or $695 per adult —whichever is higher (for 2015, it was $325 per person or 2% of household income). For children under 18, the penalty is $347.50 per child, and the maximum you will pay is $2,085 per family.

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