2019 Tax Season

 

2018 Tax Season

 

The IRS has announced that the start of the 2019 filing season will start accepting business tax returns on January 8, 2019.  “WASHINGTON — Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.”    The Trump Administration has stated that the IRS will issue out refunds during the current governmental shut down.  Normally the IRS does not issue income tax refunds during a government shut down.

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Refunds Held

Earned Income Tax Credit and Additional Child Tax Credit

This year many taxpayers will see a change in the time that they receive their income tax refunds. “The IRS will begin to release EITC/ACTC refunds starting Feb. 15. However, the IRS cautions taxpayers that these refunds likely won’t arrive in bank accounts or debit cards until the week of February 27 — if there are no processing issues with the tax return and the taxpayer chose direct deposit. This additional period is due to several factors, including banking and financial systems needing time to process deposits.” Source IRS: Refund Timing for Earned Income Tax Credit and Additional Child Tax Credit Filers

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ID Quiz

This year the Ohio Department of Taxation is offering random taxpayers ID Quiz to verify their identity to receive tax refunds.

“The online quiz will give people five minutes to answer four questions that are designed so no one else would know the answer. You’ll need to get three right to get your refund. State tax officials say they have made accommodations for people who don’t have computers or internet access at home.”

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Phone Scam

Many people are afraid of the IRS.

There are criminals who are taking advantage of this fear.

“These callers may demand money or may say you have a refund due and try to trick you into sharing private information. These con artists can sound convincing when they call. They may know a lot about you, and they usually alter the caller ID to make it look like the IRS is calling. They use fake names and bogus IRS identification badge numbers. If you don’t answer, they often leave an “urgent” callback request.”

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Affordable Care Act

 

 The Affordable Care Act (ACA) and its Possible Effects on You and Your Tax Return

We know you have a choice when choosing a tax professional, and we want to thank you for your business! We wanted inform you how the Affordable Care Act (ACA), sometimes also referred to as Obamacare, may impact all of us this tax season.

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