Update: The IRS has announced that the tax season will begin January 28, 2019 to start filing your 2018 tax returns!
Did you try calling the IRS?
Many taxpayers are confused as to how the government shutdown will affect the 2019 tax season. If you pick up the phone and contact the IRS, you’ll receive a short message instead of the typical menu. “Welcome to the IRS. Live telephone assistance is not available at this time. Normal operations will resume as soon as possible,” is what you hear when you call their toll free number.
Overall, this means that all IRS offices are closed because of the government shutdown. Read on to find out what you need to know for this tax season.
First off, what does “government shutdown” mean?
Continue reading “How the government shutdown affects your taxes.”
It’s back to school time, so here are some tips for your taxes!
- Get up to $2,000 for the Child Tax Credit if your child is under 17, resided for more than half the year with you, a dependent on your tax return, your relative, a U.S. citizen, national or resident alien. The refundable amount of the credit goes up to $1,400.
- If your child is under 13, claim the child and dependent care credit for child care expenses.
- Depending on your income, you can claim the Earned Income Credit (EIC).
- The Adoption Tax Credit reduces your tax for fees related to court, attorney, travel and meal expenses. You can also claim the Special Needs Credits for all relating child’s special needs expenses.
- If you’re paying for your child’s college education, claim the Education Credit for tuition, mandatory supplies and related fees.
Continue reading “It’s Back-to-School & Time For Your Refund!”
Do you feel like you’re playing the waiting game?
You might be wondering how long it takes for you to receive your refund. Typically, the IRS issues tax refunds in less than 21 days as long as there are no discrepancies.
If you are due a refund, it may take longer depending on the situation or time your financial institution takes to direct deposit or mail it to you.
Here are some situations that may prevent you from receiving your refund:
Continue reading “What is the Tax Refund Schedule for 2018?”