Oh Snap! It's Tax Refund Time!

That's right folks! Tax season 2018 is here! Many of you have been asking about the new tax law changes and how it will impact your tax returns. The changes are many and the impact will vary. However, the tax overhaul will not affect you during the 2017 tax filing season, which will be relatively normal with the minor changes as it has been since 1986. Next year when we're all filing our 2018 tax returns, we will know more of what to expect. Until then, let's take care of your 2017 income tax returns, first.

The Internal Revenue Service announced that the nation’s tax season will begin Monday, January 29, 2018. Taxpayers claiming certain tax credits, such as the EIC (Earned Income Credit) or the Additional Child Tax Credit, will have a slight delay in receiving their refunds. Taxpayers with these credits can expect their refunds no earlier than mid-February. 
 
The tax deadline for Individuals in 2018 is April 17, 2018.

Business E-Filers – Prior Year Returns
Businesses seeking to e-file prior year returns (2015, 2016, etc.) may begin Monday, January 8, 2018. 
 
Business E-Filers – Current Year Returns
Business E-Filers seeking to e-file their current year returns may start begin January 29, 2018 – same date as the Individual Returns.
 
IP PIN 2018
Identity Protection PIN (Protection against Tax ID Theft) is starting to arrive in the mail. Be sure to give it to your tax professional to avoid any issues when e-filing your tax returns and/or delaying the receipt of your tax refund.

Tax Largie, Inc. remains available to assist you with all your income tax return e-filing needs. You may contact us at (786) 715-6781 or dsl@taxlargiecpa.com.

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