Tax season is upon us once again. Here’s our annual guide to getting your taxes done on time, correctly, and inexpensively!
Check out our best tax software and services coupons if you’re going with a professional tax software or service. If you prefer to handle this on your own, here are some helpful tax calculators to make the math easier. We’ve also compiled the relevant deadlines to help you plan ahead! And don’t forget to check out our deals from Turbotax, H&R Block, Taxact, Liberty Tax & others.
The big news this year is the new tax laws. Rest assured, for most individuals nothing will change for your 2018 filing. In 2019, when you file taxes on wages earned in 2018, you’ll see the changes. If you’re ever unsure about your taxes, remember it’s best to consult the pros – they can help you get it all sorted out, no matter how complicated it might seem.
TAX RETURN DEADLINES FOR 2018 (2017 Tax Year)
his year, tax season begins on January 29, 2018, so file as soon as you have all of your paperwork. Remember, everything has to be in order and filed by April 17, 2018.
But I thought Tax Day was April 15?
Because the typical Tax Filing Deadline, April 15, falls on a Sunday this year, normally taxes would need to be filed the following Monday. However, the IRS will be observing Emancipation Day on Monday the 16th, so taxes won’t be due until Tuesday, April 17th.
As a reminder, refunds claiming the EITC (Earned Income Tax Credit) and/or the ACTC (Additional Child Tax Credit) cannot be issued until mid-February. According to the official IRS website, “The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards starting on Feb. 27, 2018…”
2018 Tax Deadlines by Type (For income earned in 2016)
|Type of Return||Forms||Deadline||Extension Deadline|
|Individual||1040, 1040NR, 1040A, and 1040EZ||April 17, 2018||October 15, 2018|
|Partnership||1065||March 15, 2018||September 17, 2018|
|Trust and Estate income tax||1041||April 17, 2018||October 1, 2018|
|C-Corporation||1120||April 17, 2018||October 15, 2018|
|S-Corporation||1120S||March 15, 2018||September 17, 2018|
|Foreign Bank Account||FinCen 114||October 15, 2018||October 15, 2018|
4 HELPFUL TAX CALCULATORS
The TurboTax Taxcaster has been around for a few years and is one of the fastest and easiest way to predict what your tax status will be in 2018. Its design is quick and visually appealing. Before starting, make sure that you have your W-2 on hand for the most accurate estimates. Once you start, if you’ve previously used TurboTax, you will need to pay to have your previous information uploaded.
The H&R Block Tax Calculator is similar to the TurboTaxcaster in its methodology for calculating your federal taxes. H&R Block does provide a benefit that you can finish your taxes either online or at their physical locations. While plans start at $20.97, their plans will cover you if you are chosen for an IRS audit.
Authorized by the IRS, the e-file tax calculator is more straightforward that H&R Block. You won’t need to create an account for it and you won’t get the same level of advertising that you would with other sample service calculators. That said, they also do not come with the same auditing protection and upgrades if you are looking to file a more complicated return.
Trying to figure out when you can expect your refund to arrive? There are so many variables that it can be difficult to predict! Thankfully, the IRS has provided a handy tool to help you sort this out with projected deposit dates. Again, EITC or ACTC refunds will not be listed here until sometime mid-February.
TAX SOFTWARE COUPONS FOR 2018
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