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Just in time for the busy weekend of the Internal Revenue Service (IRS), Commissioner Chuck Rettig sends a message to taxpayers. You can watch it here:
In the video, Rettig shares important information for the 2019 tax season. There are, he says, three things you can count on this season:
- The IRS website (www.irs.gov) has useful information;
- Despite new tax forms and new tax laws, tax software will look the same; and
- If you use a tax professional, it is essential to call on a reputable preparer.
During peak season, the IRS encourages taxpayers to use the website instead of making a phone call (you can read more about the Forbes' Ashlea Ebeling phone crisis) right here). On the IRS website, you can check your tax refund, explore payment options and know about changes to tax legislation (www.irs.gov/taxreform).
There are many filing options – from paper forms to software to tax preparers. About six out of ten taxpayers use a paid preparer, but it is crucial to find the right fit. For more information on finding a tax preparer, click on right here.
Do not forget that many taxpayers can file for free via the Free File program. With FreeFile, taxpayers whose income is below $ 66,000 in 2018 generally have access to free tax preparation software (eligibility may vary). This means that almost 100 million taxpayers, or 70% of tax filers, are eligible to use Free File. Taxpayers with incomes over $ 66,000 have access to a fillable electronic version of the paper forms. Free File opened this year on January 12, 2019. Learn more right here. & nbsp;
And if your tax situation – including your tax refund – does not quite match what you expected, remember that you can adjust your withholding tax. You can find out more about Form W-4 right here and more about the IRS hold calculator right here.
Finally, Rettig shares a tip that your tax professional (and I) might hear: If you can not pay your bill in full, check in anyway. The IRS imposes penalties for failure to produce and pay. You can reduce the amount of the penalty by filing and subsequently determining options and payment terms. Rettig says that the IRS is available to help.
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Just in time for the busy weekend of the Internal Revenue Service (IRS), Commissioner Chuck Rettig sends a message to taxpayers. You can watch it here:
In the video, Rettig shares important information for the 2019 tax season. There are, he says, three things you can count on this season:
- The IRS website (www.irs.gov) contains useful information.
- Despite new tax forms and new tax laws, tax software will look the same; and
- If you use a tax professional, it is essential to call on a reputable preparer.
During peak season, the IRS encourages taxpayers to use the website instead of making a phone call (to learn more about the Forbes' Ashlea Ebeling phone crisis here). On the IRS website, you can check your tax refund, explore payment options and know the changes made to the tax legislation (www.irs.gov/taxreform).
There are many filing options – from paper forms to software to tax preparers. About six out of ten taxpayers use a paid preparer, but it is crucial to find the right fit. For more information on finding a tax preparer, click here.
Do not forget that many taxpayers can file for free via the Free File program. With FreeFile, taxpayers whose income is below $ 66,000 in 2018 generally have access to free tax preparation software (eligibility may vary). This means that almost 100 million taxpayers, or 70% of tax filers, are eligible to use Free File. Taxpayers with incomes over $ 66,000 have access to a fillable electronic version of the paper forms. Free File opened this year on January 12, 2019. To learn more, click here.
And if your tax situation – including your tax refund – does not quite match what you expected, remember that you can adjust your withholding tax. You can read more about Form W-4 here and about the IRS Retention Calculator here.
Finally, Rettig shares a tip that your tax professional (and I) might hear: If you can not pay your bill in full, check in anyway. The IRS imposes penalties for failure to produce and pay. You can reduce the amount of the penalty by filing and subsequently determining options and payment terms. Rettig says that the IRS is available to help.