The IRS will start processing tax returns beginning January 28, 2019. You can prep your taxes earlier with tax software or services but it won’t be processed until January 28.
What is the filing deadline for 2018 taxes?
You have until April 15, 2019, to file your individual taxes for the 2018 tax year. If you need more time, you can file for a tax extension. Taxpayers in Maine or Massachusetts have until April 17, 2019, to file due to holidays.
How can I pay my taxes?
You can pay your taxes a variety of ways:
- Money order or check
- direct debit
- credit card
- you can set up an installment plan
- you can offer to make a settlement with the IRS. This is known as an Offer in Compromise.
What happens if I don’t pay my taxes or file my taxes?
The IRS can charge you penalties for not filing your taxes and for not paying taxes you owe. These penalties and fees can quickly add up, as it can include interest, that compounds, on the taxes owed. The IRS could also impose tax liens or tax levies on you and your assets. Many self-employed workers also have to pay estimated taxes four times a year.
What about taxes for the self-employed?
The self-employed need to file their annual tax return by the Tax Day deadline. Be sure to take advantage of all the deductions you’re eligible for to lower your taxable income.
Will the government shutdown impact tax returns?
No, the IRS said it will provide tax refunds on the normal schedule.
How long does it take for a tax refund to go out?
After filing, it’s common to ask, “Where’s my refund?” The IRS claims it issues 90 percent of refunds within 21 days. If you e-file your returns and choose direct deposit, you should receive your refund faster than other methods.
MileIQ’s blog does not constitute professional tax advice. You should contact your own tax professional to discuss your situation.