Prepare today to file your 2018 federal tax return. Tax Reform – See the new Publication 5307, Tax Reform Basics for Individuals and Families (PDF) (Basics of Tax Reform for Individuals and Families), in English, to learn more about how the new tax law could affect your tax return of taxes next year.
Retention What you need to know Due to changes in taxes under the Labor and Tax Reduction Act, many taxpayers were reduced their retention at the beginning of 2018, resulting in more money in their paycheck in 2018
You may receive a smaller refund – or you could still have an unexpected tax liability – when you file your tax return by 2018 next year, especially if you did not change your withholding after the change in the withholding tables. Other changes that affect you and your family include an increase in the standard deduction, the suspension of personal exemptions, an increase in the tax credit for children, the inclusion of a new credit for other dependents, and limits or the elimination of other deductions.
What you have to do Use the IRS Withholding Calculator to complete the “check check,” which helps you decide if you need to change your withholding, or now make estimated tax payments, or additional tax payments.
Based on the result of the Calculator, submit a new Form W-4, Employee’s Withholding Allowance Certificate, to your employer.
If the withholding of your wages, your pension, or other income does not pay the amount of income tax that you will owe for the year, make estimated tax payments or additional tax. Form 1040-ES, Estimated Tax for Individuals also includes a worksheet that helps you calculate your estimated payments.
What you need to know
Do you expect a refund? Some refunds must be held until mid-February.
By law, the IRS can not issue refunds before mid-February for tax returns claiming the Earned Income Tax Credit or the Additional Child Tax Credit. This applies to the entire refund, even the part not associated with these credits. Although the IRS processes your return upon receipt, you can not issue the associated refund until mid-February.
Su reembolso puede ser diferente – o usted aún podría quedarse con una deuda tributaria inesperada – al momento de presentar su declaración de impuestos de 2018 en el año que viene.
The new tax law could affect your expected refund next year. See the new Publication 5307, Tax Reform Basics for Individuals and Families, in English, to learn more.
What you have to do Be careful not to expect to receive reimbursement for a certain date, especially if it is to make important purchases or pay other financial obligations.
Present a complete and accurate statement based on the W-2 you received at the end of the year, and the financial statements of your bank and all Form 1099. Include any reimbursable credits that apply with your original return.
Present your statement when you are ready to present it. If you usually file your return early in the year, and are ready to present your complete and accurate return, there is no reason to wait to file it.
Know that some statements may require an additional review, for several reasons, and so take longer. For example, the IRS in collaboration with its partners in the state and national tax industry continues to strengthen the security review to help protect you against identity theft and refund fraud.
Complete the Check Check to help you decide if you need to change your withholding or now make estimated tax or additional tax payments. The New Form 1040, the electronic filing, and the adjusted gross income (AGI by its acronym in English) of 2017
What you need to know Form 1040 for the tax year of 2018 is shorter, and replaces the current Forms 1040, 1040A and 1040EZ
Up to six additional annexes can be added to the new Form 1040, if necessary.
If you prepare your own taxes and file them electronically, you must sign and validate your electronic tax return, entering your AGI from the previous year or your self-selection PIN you chose the previous year
Some taxpayers using software for the first time have to provide their 2017 Adjusted Gross Income, or AGI, in order to electronically file their 2018 tax return
If you use the same tax software program that you used last year, you do not have to enter last year’s information to be able to electronically sign your 2018 tax return. What you have to do Present electronically in 2019, as you are used to doing. Since more than 9 out of 10 taxpayers use software or a tax preparer, the IRS works with the tax community to prepare it for the update of Form 1040.
See IRS Free File to learn more about tax preparation options and electronic filing (e-file) for free.
Taxpayers filing a paper return should use the updated Form 1040 and attach any necessary attachments to it.
If this is the first time you use a tax software product, and you have a copy of your 2017 federal income tax return, your AGI is on line 37 of Form 1040; line 21 of Form 1040-A or line 4 of Form 1040-EZ
If you do not have a copy of your 2017 tax return: Ask your paid preparer if you hired one last year. Go to irs.gov/account, if you are already a user. Ask the IRS to mail you a transcript of your tax return by requesting it here, or by calling 800-908-9946. Allow 5-10 days to arrive.
Learn more about how to verify your identity and electronically sign your tax return on Verify your tax return after submitting electronically. Personal identification number of the taxpayer (ITIN, for its acronym in English)
There are two reasons why an ITIN would expire on December 31, 2018:
If you have not used your ITIN in a US tax return at least once for tax years 2015, 2016 or 2017, or If the middle digits of your ITIN are 73, 74, 75, 76, 77, 81 or 82 (9NN-73-NNNN)
If the middle digits of your ITIN are 78 or 79 (expired on 12/31/2016), or 70, 71, 72 or 80 (expired on 12/31/2017), you can still renew
it. What you have to do Renew your ITIN now if it has expired or will expire and you have to file a US tax return. in 2019. If you do not have to file a tax return, you do not have to take any action or renew your ITIN. Understand the new documentation requirements when requesting or renewing the ITIN of certain dependents. Be sure to submit an accurate W-7 (SP) and valid identification documents. Find more information at IRS.gov/ITIN IRS help What you need to know IRS.gov/español is the official website of the IRS, where you can find the answers to your tax questions online.
People who earned close to $ 55,000 or less could qualify for free tax assistance, on a VITA or TCE site. The IRS Free File offers taxpayers free, electronic options to prepare and electronically file their tax returns.
The IRS seeks volunteers for the Volunteer Taxpayer Assistance (VITA) and Tax Advice for the Elderly (TCE) programs to provide free tax preparation services to their neighbors in 2019.
What you have to do Use the page Let us help you, where you can find answers to most tax questions, get a copy of your tax history, and make a payment, among other services.
You can also call (844) 545-5460 to schedule an appointment at one of our Taxpayer Help Centers if you want help in person.
The IRS Services Guide, in English, also takes you to the previous services, and to other IRS services.
Visit the VITA or TCE page to learn more, then click on the VITA / TCE Locator tool, starting in mid-January, to search for a site near you that can help you prepare and file your tax return electronically Free, if you qualify.
Visit the IRS Tax Volunteers page, in English, to learn more and sign up to be a VITA or TCE volunteer.