Mark your calendars! Despite the Government Shutdown, the IRS confirmed today, that they will begin processing tax returns on Monday, January 28, 2019 and provide tax refunds as scheduled. You can get started now and be first in line for your tax refund!
TurboTax is already accepting tax returns and will securely hold them for transmission to the IRS and States once they begin accepting e-file. TurboTax and TurboTax Live assisted tax preparation with TurboTax Live CPAs and Enrolled Agents are open and ready for taxpayers to prepare their returns.
Last year, close to 75 percent of taxpayers received a direct deposit tax refund over $3,000. We know that your tax refund can make a big difference in your financial life, whether you need to pay down debt or save for something special. Combined with e-filing, direct deposit is the fastest way to get your tax refund. The IRS anticipates issuing more than nine out of 10 federal tax refunds within 21 days from acceptance.
The IRS encourages all taxpayers to file as soon as possible and reminds you to keep copies of your prior-year tax returns for at least three years. The filing deadline to submit 2018 tax returns is Monday, April 15, 2019, for most taxpayers. Because of the Patriots’ Day holiday on April 15 in Maine and Massachusetts and the Emancipation Day holiday on April 16 in the District of Columbia, taxpayers who live in Maine or Massachusetts have until April 17, 2019, to file their returns.
Check back with the TurboTax Blog this tax season to get the latest news for all things taxes and saving money!