Despite the government being shut down for over 25 days, the IRS is letting taxpayers know that it will still be processing 2018 Tax returns. The IRS announced this after taxpayers became concerned about if they will receive their tax refunds. The agency will start processing tax returns beginning January 28th and will provide refunds as scheduled.
To process the tax returns, the IRS is recalling a significant portion of its workforce that is currently furloughed as part of the government shutdown. Taxpayers will get their tax refunds because Congress has directed the payment of all tax refunds through a permanent, indefinite appropriation and the IRS has the authority to pay the refunds even if there are no annual appropriations made.
Nothing will change in how you have to file your tax returns. The IRS will start processing your return once filing season begins. You must file your tax return by April 15th or file an extension. It is easiest to file your tax return online, so you minimize errors and can get your refunds faster. It’s important to keep in mind all the changes that will be in effect when you file your 2018 federal tax return. You can catch up on all the changes made by the Tax Cuts and Jobs Act here.
If you need help filing your tax return this year, Polston Tax can help. Our team of tax consultants can help you decide which tax credits and tax deductions work with your financial situation. Don’t try to guess whether you should take a tax deduction, call us today at 844-841-9857 or click below to schedule your free consultation.