2019 is here and it’s time to see how all the tax law changes will affect you! January can be a busy time, particularly if you have a small business. Forms 1099 are due as well as payroll reporting for the year end. If you use your car for your business, you need to get your odometer reading right now.
If you need help with this, give me a call!
Today the IRS announced that they will begin accepting tax returns on January 28th, 2019. When the PATH act was enacted in December 2017 the date for which refunds will begin being issued was set at mid-February (no specific date). This was done to help alleviate tax fraud, allowing W-2’s and other tax forms to catch up with individual tax return filings.
The White House announced that despite the government shut down, refunds will still be processed. This is in opposition to the IRS regulations.
The announcement is likely just a political ploy to alleviate negative public opinion of the reasons for the shutdown, i.e. citizens are more likely to cast blame if the issues are directly affecting their pocketbooks. However, with mid-February being the target date for refunds to begin anyway, this point is likely moot. It is unreasonable to think that the shutdown will last beyond that date.
I am up and running and ready to begin accepting tax information right away. Call me if you need a client portal to securely send your information electronically. I look forward to working with you this year!