Last night, the IRS confirmed that January 28, 2019 will be the start of the tax season.
Although live assistance from the IRS number isn’t available, their staff is determined to keep the tax season going. “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and their commitment to the taxpayers during this period,” IRS Commissioner Chuck Rettig said.
Now that you have an idea of when you should have your 2018 tax return prepared by, here’s what you need to know.
Will my refund still be delayed?
Continue reading “The IRS has announced the start of the tax season!”
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?”
Be ready for the new tax reform.
Get your to do list out and take some action to reduce your 2018 taxes now! Although taxpayers might be hurriedly finishing their 2017 tax returns before the e-file deadline, some tax deductions will not be there for the next tax season due to the Tax Cuts and Jobs Act. (TCJA) Ultimately, the design of the new tax reform is to lower taxes for individuals of all income groups until 2025. Bear in mind that along with that idea, many individuals who itemize their deductions are worried about the tax turmoil they’ll face when filing with each capped or eliminated deduction.
Did you know that can take steps in 2018 to decrease your taxes for next tax season? Here’s a few tax tips for you.
Rack up your medical receipts.
Continue reading “Tax Reform: Tax Tips for Lowering Rates for 2018 Taxes!”