Relax It's Just Tax

IRS has stated that despite the government shut down you will receive your refunds and on time!!!! The first day they will accept returns electronically on Jan 28th.

It’s almost that time!!!! The government shutdown can affect how quickly you receive your refunds but you should still file early to be first in line and also avoid fraud. The later you file the better chance someone else uses your information!!!! I’m always available and I provide free estimates!!!!

Tax time is approaching quickly.

One of my clients asked if I was under the old system lol because I told him I would send him his forms to sign electronically on Monday. He said his friends already signed theirs. LOL

If you have signed your tax return, you have not signed your tax return. The form to electronically file your taxes has not been released. It's anticipated release is Monday so you signed a form that has not been finalized by the IRS

The hardest part about taxes is false information given to my clients from their friends and relatives coming from their tax person!

IRS Urges Travelers Requiring Passports to Pay Their Back Taxes or Enter into Payment Agreements; People Owing $51,000 or More Covered WASHINGTON The Internal Revenue Service today strongly encouraged taxpayers who are seriously behind on their taxes to pay what they owe or enter into a payment agreement with the IRS to avoid putting their passports in jeopardy. This month, the IRS will begin implementation of new procedures affecting individuals with seriously delinquent ...Continue reading

Currently if you have dependents on your tax return you are allowed an exception amount for each one of $4050. This amount is subtracted from your gross income along with your deduction (either standard or itemized ) and you DO NOT pay taxes on that amount. 2018 no more exemptions. So if you have three dependents and someone else have zero you are basically in the same boat. Good news you will still benefit from child tax credit and earned income credit if you qualify for those credits.

Do you have kids and/ or other dependents that you normally claim on your taxes? Bad news, you won’t be able to get an exemption for them in 2019 if tax reform passes.