When Can You File 2018 Taxes?
Tax season is right around the corner, and many individuals are eagerly awaiting the opportunity to file their 2018 taxes. However, before you rush to submit your tax return, it is important to be aware of the specific dates and guidelines set by the Internal Revenue Service (IRS). Here is an overview of when you can file your 2018 taxes and answers to some frequently asked questions.
1. When is the official start date for filing 2018 taxes?
The official start date for filing 2018 taxes is January 28, 2019. The IRS will begin accepting electronic and paper tax returns on this date.
2. Can I file my taxes before January 28?
While the IRS won’t process tax returns until January 28, you can still prepare your tax documents and submit them through tax preparation software or with a tax professional. These services will hold your tax return and submit it to the IRS as soon as they start accepting them.
3. Is there a deadline for filing 2018 taxes?
Yes, the deadline for filing 2018 taxes is April 15, 2019. If you are unable to file your tax return by this date, you can request an extension, which gives you an additional six months to file.
4. What if I can’t file by April 15?
If you cannot complete your tax return by the April 15 deadline, you should file for an extension using Form 4868. This will grant you until October 15, 2019, to file your taxes. However, it is essential to note that an extension only applies to filing your return, not paying any taxes owed. You must still pay your estimated tax liability by April 15 to avoid penalties and interest.
5. Are there any changes to the tax laws for 2018?
Yes, there have been significant changes to the tax laws for 2018 due to the Tax Cuts and Jobs Act. These changes include modifications to tax brackets, standard deductions, and various deductions and credits. It is advisable to consult a tax professional or use tax software to ensure you are aware of any changes that may affect your tax return.
6. Can I still claim deductions and credits for 2018?
Yes, you can still claim deductions and credits for 2018. However, due to the changes in tax laws, some deductions and credits may have been modified or eliminated. Consulting a tax professional can help you navigate these changes and determine which deductions and credits you are eligible for.
7. When will I receive my tax refund?
If you file your tax return electronically and choose direct deposit for your refund, you can expect to receive your refund within three weeks. If you choose to receive a paper check, it may take longer. However, it is important to note that the IRS has announced that tax refunds may be delayed for some taxpayers due to identity theft and fraud prevention measures.
8. What should I do if I can’t afford to pay my taxes?
If you are unable to pay your taxes in full by the April 15 deadline, it is still crucial to file your tax return on time to avoid penalties for failure to file. You can then explore payment options, such as setting up an installment agreement with the IRS or applying for an offer in compromise if you meet certain eligibility criteria.
Filing your 2018 taxes can seem daunting, but being aware of the key dates and guidelines can make the process much smoother. If you have any additional questions or concerns, it is always recommended to consult a tax professional or visit the official IRS website for the most up-to-date information.