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IRS Confirms Tax Filing Season to Begin January 28, 2019

IR-2019-01, January 7, 2019

WASHINGTON ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.

“We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and their commitment to the taxpayers during this period,” said IRS Commissioner Chuck Rettig.

Congress directed the payment of all tax refunds through a permanent, indefinite appropriation (31 U.S.C. 1324), and the IRS has consistently been of the view that it has authority to pay refunds despite a lapse in annual appropriations. Although in 2011 the Office of Management and Budget (OMB) directed the IRS not to pay refunds during a lapse, OMB has reviewed the relevant law at Treasury’s request and concluded that IRS may pay tax refunds during a lapse.

The IRS will be recalling a significant portion of its workforce, currently furloughed as part of the government shutdown, to work. Additional details for the IRS filing season will be included in an updated FY2019 Lapsed Appropriations Contingency Plan to be released publicly in the coming days.

“IRS employees have been hard at work over the past year to implement the biggest tax law changes the nation has seen in more than 30 years,” said Rettig.

As in past years, the IRS will begin accepting and processing individual tax returns once the filing season begins. For taxpayers who usually file early in the year and have all of the needed documentation, there is no need to wait to file. They should file when they are ready to submit a complete and accurate tax return.

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.

Software companies and tax professionals will be accepting and preparing tax returns before Jan. 28 and then will submit the returns when the IRS systems open later this month. The IRS strongly encourages people to file their tax returns electronically to minimize errors and for faster refunds.

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IRS Confirms Tax Filing Season to Begin January 28, 2019


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More than a tax service!

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Tax Help!

Tax Help!

by: Mike Ward, EA

 

Finding yourself bogged down with tax problems?

Do you feel like you are unable to properly explain your unique situation to the IRS and other government agencies? Have these agencies become relentless on their collections?

Or maybe you just have questions regarding your new business?

Well you are not alone!

A clear path out of complicated tax situations can feel daunting.  Finding sound tax advice from your local tax professional can make the process of reconciliation much less financially and emotionally trying. OC Tax Service specializes in these exact situations.

Below are some of the most common tax situations and the ways OC Tax can help tackle these tax problems:

 

Timely filing your individual 1040 tax returns and/or your business (1120, 1120S, 1065) tax returns.

  • OC Tax Service specializes in Individual and small business tax filing and will help you get caught up on your personal and business tax return filing. If you have back tax debt the IRS will not negotiate until all due tax returns are filed.
  • OC Tax Service will guide you through penalty relief and offer and compromise options that the IRS offers.

 

Tax filing for 1099 income or independent contractor income. If you are a new or seasoned independent contractor and you are not properly preparing for income tax liabilities then you may be headed for, or already in “tax trouble”. You may need tax help.

  • OC Tax Service can help you take full advantage of all the tax deductions you are entitled to under the current tax code. After all the deductions are considered we will set up an estimated tax payment plan that will avoid large unexpected tax obligations at the end of the year.
  • Tax filing for 1099R. Early IRA distributions are taxed and penalized differently than other investments. The tax implications should be reviewed thoroughly before these tough decisions are made. If you are considering taking early distributions, or are unsure how your retirement will be taxed, than you may need tax advice from a tax professional.
  • At OC Tax Service, we have seasoned tax professionals available to explain any tax situation. We will discuss the tax implications of an early distribution from your IRA and the exceptions that may or may not apply to these rules.

 

Incorrect withholding on your W2 or 1099R. Setting up the proper withholding on your W2 or 1099R may keep you out of tax trouble and possibly save you from many tax headaches and tax problems.

  • OC Tax professionals can explain the different withholding on tour W2 or IRA and help you decide what is best for your unique situation.

 

Call OC Tax Service today and speak with of our knowledgeable Enrolled Agents or Registered Tax Preparers. (410)973-2742

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Enrolled Agent

We are THRILLED to announce that our very own Mike Ward has passed his EA Exams and is now an Enrolled Agent — the highest credential the IRS awards! Congratulations, Mike!!

Enrolled Agent Information

An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.

Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before. Learn more about enrolled agents in Treasury Department Circular 230 (PDF).

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