The IRS expect the earliest refunds to Earned Income Credit and Additional Child Tax Credit to be available in taxpayers bank accounts starting on Feb. 27, 2018, if the taxpayers uses direct deposit and there is no other issues with their tax return. This additional period is due to several factors, including Presidents Day holiday and banking and financial systems needing time to process deposits.
Taxpayers should note that the IRS cannot by law issue refunds for people claiming the Earned Income Credit or Additional Tax Credit before mid-February. This law helps make sure the taxpayers receive the refund they are due by giving the IRS more time to detect and prevent fraud.
The 2017 Standard Deduction for taxpayers filing Single or Married Filing Separately is 6,350. For Married Filing Jointly 12,700. For Head of Household 9,350.
The Personal Exemption amount is 4,050.
The mileage rate went down from last year to 53.4 cents a mile.
We operate by appointment. Please have all your financial forms when you come for your appointment. These may include but not limited to: W2's, 1099R's, 1099 MISC, bank interest statements, social security year end forms, unemployment forms, 1099-DIV and investment forms, 1099 INT mortgage interest forms, charitable contributions added up. If you are self employed we ask that you have all your income, and expenses added up and categorised to save time and expense.
If you receive marketplace insurance make sure you bring in your 1095A form. They are mailed out or you can access it by logging in to your portal on www.Marketplace.gov.